10:01 AM EDT, 08/01/2024 (MT Newswires) -- Itron ( ITRI ) shares were up nearly 7% in recent Thursday trading after the company posted higher Q2 financial results and lifted its 2024 guidance.

The company reported Q2 non-GAAP earnings Thursday of $1.21 per diluted share, up from $0.65 a year earlier.

Analysts polled by Capital IQ expected $0.96.

Revenue for the quarter ended June 30 was $609.1 million, compared with $541.1 million a year earlier.

Analysts surveyed by Capital IQ expected $599.3 million.

The company said it expects Q3 non-GAAP diluted EPS of $1.10 to $1.20 on revenue of $590 million to $600 million. Analysts surveyed by Capital IQ expect normalized EPS of $0.93 on revenue of $585.6 million.

The company also said it now expects 2024 non-GAAP diluted EPS of $4.45 to $4.65 on revenue of $2.39 billion to $2.42 billion, up from its February guidance for non-GAAP diluted EPS of $3.40 to $3.80 on revenue of $2.28 billion to $2.38 billion.

Analysts polled by Capital IQ expect normalized EPS of $4.03 on revenue of $2.38 billion.

Price: 110.59, Change: +7.15, Percent Change: +6.91