Ituran Location and Control Ltd. provides location-based mobility technology and vehicle telematics services under the ITRN ticker. The company reports recurring developments in stolen vehicle recovery, fleet management, connected-car services, mobile asset location, and telematics products used for automatic vehicle location and identification.
Ituran news commonly covers subscriber growth, subscription and product revenue trends, quarterly and annual results, dividend and share-repurchase actions, and OEM connectivity agreements in Israel, Latin America, and other markets. Company updates also include IturanMob smart-mobility applications, embedded hardware and backend services for connected vehicles, and the DRIVE startup incubator focused on smart mobility technology.
Ituran Location and Control Ltd. (NASDAQ: ITRN) has formed a strategic partnership with Tokio Marine Insurance, enhancing its presence in the Brazilian auto insurance market. The agreement will utilize Ituran's telematics hardware for vehicle tracking and recovery, benefiting from Tokio Marine's strong market position as the 4th largest insurer in Brazil. The partnership aims to expand Ituran's install base by thousands annually, leveraging advanced AI technology to improve service and reduce insurance claims costs.
Ituran Location and Control Ltd. (NASDAQ: ITRN) announced a cash dividend of $0.48 per share, amounting to approximately US$10 million. The dividend will benefit shareholders of record as of March 23, 2021, with a payment date set for April 6, 2021. As of December 31, 2020, Ituran had retained earnings of US$127.7 million and a cash balance of US$72.2 million. The Board confirmed that this dividend distribution will not hinder the company’s operational capabilities or future plans.
Ituran Location and Control Ltd. (NASDAQ: ITRN) released its financial results for Q4 and full-year 2020, highlighting 1.768 million subscribers and revenue of $245.6 million for the year. Q4 revenue reached $63.6 million, up 5.4% from Q3, despite a 3% decline from Q4 2019. Adjusted EBITDA for Q4 was $16.6 million. The company declared a $10 million dividend and reported a strong operating cash flow of $60.1 million for the year. CEO Eyal Sheratzky expressed optimism about recovery and continued growth amid pandemic challenges.
Ituran Location and Control Ltd. (NASDAQ: ITRN) announced it will release its Q4 and full-year 2020 results on March 3, 2021, followed by a conference call at 9am Eastern Time. Management will discuss the results and answer investor questions. The company is a leader in mobility technology, specializing in location-based services like stolen vehicle recovery and fleet management. With nearly 2 million subscribers across over 20 countries, Ituran holds a significant market position in Latin America and Israel.
Ituran Location and Control Ltd. (NASDAQ: ITRN) reported its third quarter 2020 financial results, showing sequential revenue growth of 13% to $60.3 million but a year-over-year decline of 13% due to the impacts of Covid-19. Net income increased 45% to $9.3 million, aided by cost management strategies. The company generated $13.6 million in operating cash flow and returned to a net cash position. The total subscriber count rose to 1,752,000 but the OEM subscriber base decreased by 12,000. Management remains optimistic about future growth despite ongoing pandemic challenges.
Ituran Location and Control Ltd. (NASDAQ: ITRN) has announced the release of its third quarter 2020 results, scheduled for November 18, 2020. The company will host a conference call at 9am Eastern Time on the same day to discuss the results and address investor questions. With a growing subscriber base of nearly 2 million, Ituran stands as a leader in mobility technology, providing location-based services across various sectors. The company's services are utilized in over 20 countries, reinforcing its market position.
Ituran Location and Control Ltd. (NASDAQ: ITRN) announced its second quarter 2020 financial results, reporting revenues of $53.3 million, down 25% year-over-year due to Covid-19 impacts on new car sales. Adjusted EBITDA was $13.9 million, a 28% decline from last year. Despite a net loss of $6.3 million, cash flow from operations was strong at $19.3 million. The subscriber base stood at 1,751,000, with a 7% local currency decline in subscription fees. Management remains optimistic about future performance as the company adapts to ongoing global challenges.
Ituran Location and Control Ltd. (NASDAQ: ITRN) will release its second quarter 2020 results on August 25, 2020. A conference call is scheduled for 9 AM Eastern Time to discuss these results. The company is a leader in mobility technology, offering location-based services, having nearly 2 million subscribers and significant market presence in Israel and Latin America. Established in 1995, Ituran operates in over 20 countries and has approximately 3,000 employees worldwide.