Welcome to our dedicated page for Ituran Location news (Ticker: ITRN), a resource for investors and traders seeking the latest updates and insights on Ituran Location stock.
Ituran Location and Control Ltd (ITRN) provides investors and industry professionals with comprehensive access to corporate developments through this centralized news hub. Track official press releases, financial updates, and strategic announcements from the global leader in telematics and location-based services.
This resource offers real-time visibility into ITRN's operational milestones, including product launches, partnership agreements, and market expansion initiatives. Users gain critical insights through earnings reports, technology updates, and leadership communications that shape the company's trajectory in vehicle recovery systems and fleet management solutions.
All content undergoes strict verification to ensure accuracy and compliance with financial disclosure standards. The curated news feed serves both casual observers and professional analysts seeking to monitor ITRN's innovations in GPS tracking and machine-to-machine communication technologies.
Bookmark this page for streamlined access to verified updates about Ituran's global operations across Israel, Brazil, and other key markets. Regularly refreshed content supports informed decision-making for stakeholders tracking the evolving telematics sector.
Ituran Location and Control (Nasdaq: ITRN) has announced a groundbreaking partnership with Microsoft and Porsche to enhance motorsport performance in the Porsche Carrera Cup through real-time telemetry data. This collaboration leverages advanced data collection, transmission, and cloud-based analysis to optimize race strategies and vehicle performance. The technology, fully operational in Brazil, Argentina, and Portugal for the 2024 season, collects data via Ituran's telematics device and transmits it to Microsoft Azure cloud in real-time. This innovation allows Porsche engineering teams to make informed decisions during races, improving performance and safety. Eyal Sheratzky, CEO of Ituran, emphasized the significance of this partnership, highlighting Ituran's technological leadership and the potential applications of these new capabilities across their business.
Ituran Location and Control (NASDAQ: ITRN) has announced the release of its second quarter 2024 financial results on Monday, August 19, 2024. The company will host a conference call at 9am Eastern Time on the same day to discuss the results and answer investor questions. Participants can join the call using the provided teleconferencing numbers for the US, Israel, and international dial-in. For those unable to attend the live call, a replay will be available in the investor relations section of Ituran's website following the event.
Ituran Location and Control announced an $8 million dividend distribution. Shareholders of record as of June 18, 2024, will receive $0.39 per share. The payment will be made on July 2, 2024, after a 25% tax deduction. The Board confirmed that this distribution will not affect the company's ongoing or future operations. As of March 31, 2024, before the dividend, retained earnings were $208.8 million, reducing to $200.8 million post-distribution. The company had a cash balance of $54 million and banking credit of $0.3 million. Current assets were $130.1 million, and current liabilities were $92.9 million.
Ituran Location and Control (NASDAQ: ITRN) reported record revenues of $85 million for Q1 2024, up 7% year-over-year.
Net income rose 15% to $13 million, with EBITDA increasing by 7% to $22.3 million.
The company added 39,000 net subscribers, bringing the total to 2,291,000.
Gross profit was $39.5 million, an 8% increase from the previous year.
Operating cash flow stood at $11.4 million.
The Board declared a dividend of $8 million, or $0.39 per share.
Ituran reiterated its 2024 guidance, expecting EBITDA between $90-95 million and targeting over $100 million in 2025.
The results are based on current exchange rates and assume stable global and political conditions.
Ituran Location and Control (NASDAQ: ITRN) has scheduled the release of its first quarter 2024 results for May 28, 2024. A conference call will follow at 10am Eastern Time, where management will discuss the results and answer investor questions.
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