Itron (NASDAQ: ITRI) reported Q1 EPS of $0.70, $0.26 better than the analyst estimate of $0.44. Revenue for the quarter came in at $615 million versus the consensus estimate of $585.65 million.

"We are pleased with first quarter results, which were driven by improved operating performance and higher-margin software revenue associated with customer projects," said Philip Mezey, Itron's president and chief executive officer.

"We are seeing benefits from our operational initiatives, including the realigned business segments, which are executing and performing well. In addition, ongoing transformation and integration initiatives are contributing to improved results," continued Mezey.

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