Yahoo Finance Itron (ITRI) & VODA.ai Unveil Pipe Asset Management Solution
Itron Inc ITRI recently announced a partnership with VODA.ai to introduce Pipe Asset Management — a cutting-edge solution engineered to facilitate the identification and prediction of critical pipe assets that need replacement, rehabilitation, or contain lead. The initiative is likely to revolutionize the way utilities operate, saving costs and enhancing efficiency in the management of water distribution networks.
The alliance aims to address the issue stated by Utah State University. Per the statistics highlighted in the reports, as much as 20% of water pipes, which totals 452,000 miles, in the United States and Canada are already past their useful lifespans and require restoration on an urgent basis.
Pipe Asset Management is designed to “proactively” sort public data (to assess critical factors such as soil conditions, terrain features, road and other infrastructure characteristics) by leveraging data collected by the utility (including GIS data and historical pipe failure records) and data collected by Itron’s water solutions (such as analytics and advanced metering infrastructure data collection and Temetra offerings).
Then, the data from Pipe Asset Management is fed into VODA.ai’s AI engine. It is presented in an interactive way for detecting pipes that require replacement/rehabilitation.
The state-of-the-art Pipe Asset Management software is available separately or as part of a complete package across the globe.
Liberty Lake, WA-based Itron is a technology and services company that provides leading energy, water, smart city, IIoT and intelligent infrastructure services and solutions to utilities and cities for effective and efficient management of resources.
ITRI’s performance is gaining traction from rising recurring and one-time service revenues, coupled with higher sales of water meters and communication modules. The company expects to benefit from healthy demand for its robust portfolio of innovations as well as lucrative partnerships and buyout strategies.
In the last reported quarter, ITRI’s top line expanded 22% year over year to $603 million, beating the consensus mark by 4.1%, owing to strong operational execution and uptrend demands across all business segments. Management also credited the conversion of previously constrained revenues for this growth. Itron had roughly $125 million of constrained revenues at the beginning of 2024, more than half of which was fulfilled in the first quarter.
ITRI currently carries a Zacks Rank #3 (Hold) at present. The stock has gained 48.7% over the past year compared with the industry’s rise of 14%.
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