HomeMost PopularInvestingItron's AMI Innovation Sparks Partnership with Coopesantos R.L.

Itron’s AMI Innovation Sparks Partnership with Coopesantos R.L.

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Itron ITRI recently unveiled an exciting collaboration with Los Santos Rural Electrification Cooperative (Coopesantos R.L.) in Costa Rica.

Coopesantos R.L. has boldly embraced the future by seamlessly integrating Itron’s Advanced Metering Infrastructure (AMI) network. As one of Costa Rica’s four electric cooperatives, it is dedicated to fostering community prosperity and has become a trailblazer as the first rural electrifier in Costa Rica and Central America to achieve this feat.

Over the course of five years, the project harmoniously fused Itron’s distributed intelligence (DI)-enabled AMI solution with Coopesantos R.L.’s customer information system, deploying over 50,000 Itron smart electricity meters. This upgrade empowers Coopesantos R.L. with grid edge intelligence, enhancing visibility and revolutionizing its electrical grid.

Itron’s Future Forecast

Itron, Inc. Price and Consensus

Itron, Inc. price-consensus-chart | Itron, Inc. Quote

Itron’s comprehensive AMI solution promises a plethora of advantages such as real-time power outage alerts, a reduced carbon footprint through remote meter readings, and heightened customer satisfaction by swiftly detecting shifts in energy consumption patterns and technical anomalies.

Known for its innovative technologies, Itron stands as a global leader in providing a diverse array of standard, advanced, and smart meters and meter communication systems, along with software, sensors, data analytics, and services to the utility and municipal sectors.

In its recent earnings report, Itron announced a noteworthy performance for the fourth quarter of 2023. The company surpassed expectations with non-GAAP earnings per share (EPS) of $1.23, marking a 64% increase from the prior year. Revenue surged to $577.2 million, outshining estimates by 1.1% and reflecting a 23% year-over-year growth.

Exploring Further

Looking ahead, for the first quarter of 2024, ITRI anticipates revenues of $575 million to $585 million, with non-GAAP EPS forecasted in the range of 80 to 90 cents. The company also projects full-year 2024 revenues between $2.275 billion and $2.375 billion, alongside an estimated non-GAAP EPS of $3.40 to $3.80.

Currently, Itron maintains a Zacks Rank #2 (Buy), indicative of its strong position in the market and growth potential.

Exploring Other Tech Stocks

In addition to Itron, investors might also consider other top-performing stocks in the technology sector such as Synopsys SNPS, Woodward WWD, and Perion Network PERI. Synopsys and Perion Network hold a Zacks Rank #1 (Strong Buy), while Woodward boasts a Zacks Rank #2.

For instance, Synopsys has seen its Zacks Consensus Estimate for 2024 EPS rise by 1.1% over the past 60 days to $13.56. Synopsys has a commendable long-term earnings growth rate of 17.5% and has outperformed expectations in the last four quarters.

Similarly, Woodward’s fiscal 2024 EPS estimate has climbed 5.7% in the last 60 days to $5.27, showcasing its robust growth potential and consistent performance. Perion Network, with a 22% long-term earnings growth rate, continues to exceed expectations, hinting at steady growth.

These companies, each with its unique strengths and market position, present compelling investment opportunities in the dynamic technology landscape.

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