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 Ltd. (NASDAQ: ITRN) has announced a cash dividend of $0.14 per share, amounting to approximately US$3 million. Shareholders of record as of March 21, 2023 will receive the dividend on April 4, 2023, with a tax deduction of 25%. The Board of Directors confirmed this decision after ensuring that the distribution would not compromise the company's operations. Following the payment, retained earnings will be US$166 million, down from US$169 million. The company holds a cash balance of US$27.9 million, alongside US$12.2 million in credit facilities, maintaining a solid financial position.
Ituran Location and Control Ltd. (NASDAQ: ITRN) reported strong financial results for Q4 and FY 2022, with a record revenue of $293.1 million, an 8% year-over-year increase. The subscriber base grew by 185,000 in 2022, reaching a total of 2,066,000 subscribers. Net income rose 8% to $37.1 million. In Q4 alone, revenue was $74.9 million, up 7%, with net income stable at $9.6 million. Management anticipates 2023 subscriber growth of 180,000 to 200,000. The company issued $12 million in dividends and conducted share buybacks worth $8.4 million in 2022, ending the year with $16 million in net cash.
Ituran Location and Control Ltd. (NASDAQ: ITRN) will release its fourth quarter and full year 2022 results on February 28, 2023, followed by a conference call at 9am ET. The call will provide insight into the company's financial performance and management will address investor questions.
Ituran is a leader in mobility technology, primarily offering location-based services. The company boasts over 2 million subscribers across more than 20 countries and is the largest OEM telematics provider in Latin America. The company has approximately 3,000 employees globally, with a strong market presence in Israel and Latin America.
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