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SUVA - The Water Authority of Fiji (WAF) has begun deploying smart water meters as part of its first smart metering project in the Fiji Islands, according to a press release statement. The deployment, which started in May 2025, is expected to be completed in the third quarter of 2025. The project is being implemented by Itron (NASDAQ:ITRI), a global technology company with a market capitalization of $5.7 billion and an impressive financial health score of "GREAT" according to InvestingPro analysis.
The project involves upgrading existing infrastructure with Itron (NASDAQ:ITRI) mechanical meters equipped with Cyble communications modules. These modules transform standard meters into smart meters without requiring wiring or wall mounting.
Data from the smart meters will be collected via drive-by using Temetra, Itron’s cloud-based meter data management solution. This system eliminates the need for manual meter reading and allows for easier access to consumption data.
The initiative aims to address WAF’s non-revenue water losses, which the utility estimates at 47% of its produced water. The deployment aligns with WAF’s Water Sector Strategy 2050, which focuses on clean water, safe sanitation, sustainability, and workforce development.
"We have a long-term vision for the future of water in Fiji. Step by step, we are striving to improve water operations and create a resilient and reliable water network," said Josateki Sivo, head of customer metering and installation at WAF.
The smart water solution is designed to withstand Fiji’s coastal environment, where salt spray can cause corrosion on metal components. Itron’s Cyble module is resistant to corrosion, contaminants, and temperature fluctuations.
Pacific Technologies, an Itron technology partner, is collaborating on the implementation of the project, which represents the first smart metering deployment in the country. With annual revenue of $2.44 billion and a strong stock performance of +28.82% over the past six months, Itron continues to demonstrate its market leadership in smart utility solutions. For detailed analysis and additional insights about Itron’s financial performance and growth prospects, visit InvestingPro, where you’ll find exclusive research reports and expert financial analysis.
In other recent news, Itron reported its second-quarter 2025 earnings, which surpassed analyst expectations with an earnings per share (EPS) of $1.62, compared to the forecasted $1.32. However, the company’s revenue slightly missed projections, coming in at $607 million against an expected $609 million. Despite the strong earnings, the market reacted negatively to the revenue miss. JPMorgan responded by raising its price target for Itron to $145, upgrading the company to Overweight from Neutral, citing strong margins as a key factor. Similarly, Stephens increased its price target for Itron to $130, maintaining an Equal Weight rating, following the company’s earnings report that featured record margins. Additionally, Itron announced the appointment of Sheri Savage, CFO of Ultra Clean Holdings, to its board of directors, effective August 11, 2025. These developments reflect the company’s ongoing strategic adjustments and market positioning efforts.
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