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. 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) 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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