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. (NASDAQ: ITRN) is a mobility technology and telematics company focused on location-based services for connected vehicles and mobile assets. This news page aggregates company announcements, press releases and market updates so readers can follow how Ituran’s telematics services, OEM relationships and geographic footprint evolve over time.
According to its disclosures, Ituran provides stolen vehicle recovery, fleet management and mobile asset location and control services, as well as connected-car offerings for vehicles, cargo and personal security. News items frequently cover topics such as quarterly earnings results, subscriber growth, dividend declarations and cash flow trends, which are reported through press releases that are also furnished to the SEC on Form 6-K.
Because Ituran works closely with automotive and motorcycle manufacturers, many updates relate to OEM partnerships and new agreements. Recent examples include a multi-year service agreement with Renault in Latin America and strategic partnerships with Yamaha and BMW Motorrad in Brazil to integrate Ituran’s telematics services into motorcycles. These announcements help investors and observers understand how Ituran is expanding its presence in Latin America and the global two-wheel market.
Other recurring news themes include the performance and reach of Ituran’s stolen vehicle recovery network, the growth of its more than 2.5 million-subscriber base, and developments around its smart-mobility solution IturanMOB. Readers can also find notices about conference presentations, such as participation in the LD Micro Main Event, and scheduling of earnings conference calls. For anyone tracking ITRN stock, this page offers a centralized view of the company’s operational, financial and strategic updates.
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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.
Ituran Location and Control Ltd. (NASDAQ: ITRN) announced the release of its third quarter 2022 results on November 21, 2022. A conference call will take place at 9 AM ET on the same day, where management will discuss the results and address investor questions. Ituran is a leader in mobility technology, offering location-based services, including stolen vehicle recovery and fleet management. With a subscriber base nearing 2 million, Ituran holds a significant market position in Israel and Latin America, employing about 3,000 staff globally.