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 (NASDAQ: ITRN) has announced a quarterly cash dividend distribution of $0.50 per share, totaling approximately $10 million. This represents a 25% increase in the quarterly dividend amount under the company's updated dividend policy.
The dividend will be paid on April 3, 2025, to shareholders of record as of March 20, 2025, subject to a 25% tax rate. The company's financial position remains strong with $226.1 million in retained earnings prior to distribution, which will decrease to $216.1 million after the payout. As of December 31, 2024, Ituran maintained a cash balance of $77.4 million, current assets of $119.8 million (excluding cash), and current liabilities of $87.9 million.
Ituran Location and Control (NASDAQ: ITRN) reported strong financial results for Q4 and full year 2024. The company reached 2.409 million subscribers by year-end, adding 157,000 net subscribers during 2024.
Full year 2024 highlights include record revenue of $336.3 million (up 5% YoY), net income of $53.7 million (up 11%), and EBITDA of $91.3 million (up 5%). Q4 2024 showed revenue of $82.9 million (up 7% YoY), net income of $13.8 million (up 15%), and EBITDA of $22.5 million (up 3%).
The company announced two significant updates: increased subscriber growth expectations for 2025 to 180,000-200,000 net adds, and a 25% increase in quarterly dividend policy to $10 million ($0.50 per share). The company maintains a strong financial position with $77.4 million in cash and marketable securities.
Ituran Location and Control (NASDAQ: ITRN) has announced it will release its fourth quarter and full year 2024 results on Wednesday, February 26, 2025. The company will host a video conference call via Zoom at 10am Eastern Time (7am Pacific Time, 5pm Israel time) on the same day. Management will present the results and answer investor questions during the call.
Participants must register through a provided Zoom link to join the conference call, which will be accessible via the Zoom app or telephone dial-in. A replay of the call will be available through the same link and on Ituran's website shortly after the call concludes.
Ituran Location and Control (Nasdaq: ITRN), a global leader in vehicle telematics, has announced its participation in two major investor conferences in New York City this January 2025. Deputy CEO Udi Mizrahi will present at the 27th Annual Needham Growth Conference on Tuesday, January 14 at 11:45am Eastern Time, where management will also be available for virtual one-on-one meetings with investors.
Additionally, Mr. Mizrahi will participate in a panel discussion at the Freedom Capital Markets Israel Opportunities Event on Thursday, January 16, focusing on technology trends and investment themes in the connected car and transportation future. Investors interested in meeting with management during the Needham conference can schedule appointments through Needham representatives or by contacting Ituran's investor relations team at ituran@ekgir.com.
Ituran Location and Control (ITRN) announced that its Indian joint venture, Lumax Ituran Telematics, has successfully completed validation of its connected telematic devices with Daimler India Commercial Vehicles (DICV). The testing involved approximately 15,000+ vehicles operating in India, and Lumax-Ituran expects to continue selling tens of thousands of connected devices to DICV annually.
The devices will provide essential hardware for advanced telematics solutions, enabling future expansion into connected vehicle services. This partnership with DICV, a major global OEM, represents a significant milestone in Ituran's strategic expansion into India's automotive telematics sector.
Ituran Location and Control (NASDAQ: ITRN) announced a cash dividend of $0.39 per share, totaling $8 million. The dividend will be paid on January 8, 2025, to shareholders of record as of December 23, 2024, with a 25% tax rate. The company's financial position shows strong fundamentals with retained earnings of $220.1 million (pre-distribution), cash balance of $67.5 million, current assets of $123.1 million (excluding cash), and minimal credit from banking institutions at $0.2 million. The Board confirmed this distribution won't affect the company's business operations or future plans.
Ituran Location and Control (NASDAQ: ITRN) reported strong Q3 2024 results with revenue reaching $83.5 million, up 3% year-over-year. Net income increased 9% to $13.7 million, while EBITDA grew 4% to $23.3 million. The subscriber base expanded by 40,000 to reach 2,369,000. The company declared an $8 million dividend ($0.39 per share). Management reiterated 2024 guidance, expecting EBITDA between $90-95 million and targeting over $100 million for 2025. Despite currency headwinds affecting dollar-denominated results, the company showed strong growth in local currencies, with revenues up 7% year-over-year.
Ituran Location and Control has signed a 5-year contract with Nissan Chile to provide Vehicle Location Unit (VLU) and telematics services, expanding their existing partnership from Mexico. The agreement includes pre-installation of VLU units in three Nissan models, with expected addition of tens of thousands of vehicles. Nissan customers will receive a one-year free trial of Ituran's services, including access to a Nissan-branded application, 24-hour contact center support, stolen vehicle recovery, and emergency services. The partnership demonstrates Nissan's satisfaction with Ituran's performance in Mexico and marks Ituran's strategic expansion in providing OEM services in the Chilean market.
Ituran Location and Control (Nasdaq: ITRN) announced that its subsidiary, Ituran Mexico, has been awarded Nissan's Supplier of the Year 2024 Regional Aftersales Accessory Parts award. The recognition highlights Ituran's excellence in on-time delivery, engineering capabilities, and problem-solving. Ituran's CEO, Eyal Sheratzky, expressed honor in receiving this prestigious award, emphasizing the company's commitment to OEM partners like Nissan.
The award validates Ituran's innovative telematics solutions, which provide enhanced vehicle tracking, fleet management, and aftersales support to OEMs. Ituran has expanded its offerings to include real-time data analytics and advanced connectivity features. The company continues to invest in cutting-edge technologies such as predictive analytics and AI-driven insights, reinforcing its market leadership and commitment to excellence in the global automotive industry.
Ituran Location and Control (NASDAQ: ITRN) has announced the release of its third quarter 2024 results on Thursday, November 21, 2024. The company will host a conference call at 10am Eastern Time on the same day to discuss the results and answer investor questions.
Investors can participate in the call using the following teleconferencing numbers:
- US Dial-in: 1 866 860 9642
- Israel Dial-in: 03 918 0609
- International Dial-in: +972 3 918 0609
The call will take place at 10:00am Eastern Time, 7:00am Pacific Time, and 5:00pm Israel Time. For those unable to attend the live call, a replay will be available in the investor relations section of Ituran's website after the call.