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 Ltd. (NASDAQ: ITRN) is set to release its third quarter 2021 results on November 16, 2021. The company will host a conference call at 9 AM Eastern Time to discuss results and answer investor questions. Ituran, a leader in location-based services with nearly 2 million subscribers, provides solutions for vehicle recovery, fleet management, and more across over 20 countries. The company continues to strengthen its position in both Israel and Latin America.
Ituran Location and Control Ltd. (NASDAQ: ITRN) announced the full acquisition of Ituran Spain Holdings, paying approximately $11.2 million for the remaining 18.72% of shares. This follows the original acquisition agreement from July 2018, valuing the subsidiary at $60 million. Co-CEO Eyal Sheratzky expressed optimism about this acquisition, highlighting its potential to drive growth and synergies in recovering markets post-COVID. Ituran is a leader in mobility technology, offering location-based services across over 20 countries with nearly 2 million subscribers worldwide.
Ituran Location and Control Ltd. (NASDAQ: ITRN) announced a cash dividend of $0.14 per share, totaling approximately US$3 million, to be paid on October 13, 2021. Shareholders of record as of September 30, 2021 will receive this dividend net of a 25% tax. As of June 30, 2021, Ituran reported retained earnings of US$132 million before the distribution, expected to decrease to US$129 million. The company maintains a cash balance of US$65.6 million and has long-term debt of US$20.9 million.
Ituran Location and Control Ltd. (NASDAQ: ITRN) reported strong second-quarter results for 2021 with revenues of $67.5 million, up 27% year-over-year. The company achieved a net income of $9.1 million, compared to a loss of $6.3 million last year. Operating income rose to $13.8 million, marking a significant recovery from an operating loss in the previous year. The company also announced a $3 million dividend and renewed its $19 million share buy-back program, reflecting its solid cash flow of $19.0 million for the quarter.
Ituran Location and Control Ltd. (NASDAQ: ITRN) announced the execution of a $25 million share repurchase program, following a previous $6 million buyback in 2019. This decision, made by the Board of Directors, aims to enhance shareholder value and will commence on August 25, 2021. The repurchases will be conducted by its wholly owned subsidiary and funded through available cash, adhering to SEC rules. Eyal Sheratzky, Co-CEO, expressed optimism that the buyback could positively impact shareholder value over the long term.
Ituran Location and Control Ltd. (NASDAQ: ITRN) is set to release its second quarter 2021 results on August 23, 2021. A conference call will follow at 9:00 am Eastern Time, where management will discuss the results and answer investor questions. Participants can join via various dial-in numbers provided for the US, Israel, and internationally. The company specializes in mobility technology and location-based services with a growing subscriber base of nearly 2 million, highlighting its market leadership in Israel and Latin America.
Ituran Location and Control Ltd. (NASDAQ: ITRN) announced that its investment holding, Bringg, has successfully completed a Series E funding round of $100 million, led by Insight Capital. This investment elevates Bringg's valuation to $1 billion, marking it as a unicorn in last-mile delivery technology. Post-investment, Ituran maintains a 17.2% undiluted ownership stake in Bringg. The funds will enhance Bringg's platform and expand its ecosystem in response to growing global demand.
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 June 29, 2021, will receive the dividend on July 14, 2021, net of a 25% tax. The Board of Directors confirmed that this distribution will not jeopardize the company's operational capabilities or future plans. Post-distribution, Ituran's retained earnings will be US$122.8 million, with a cash balance of US$64.1 million as of March 31, 2021.
Ituran Location and Control Ltd. (NASDAQ: ITRN) reported Q1 2021 results, showcasing resilience amid the Covid-19 pandemic. Revenue reached $67.4 million, comparable to Q1 2020, with a 6% sequential increase. Net income surged 30% year-over-year to $8.3 million, and adjusted EBITDA rose 12% to $17.1 million. The company added 25,000 aftermarket subscribers while losing 5,000 OEM subscribers, culminating in a total subscriber base of 1,788,000. A $3 million dividend was declared, emphasizing a commitment to shareholder returns.
Ituran Location and Control Ltd. (NASDAQ: ITRN) will announce its first quarter 2021 results on May 25, 2021. The Company will host a conference call at 9:00 AM Eastern Time to discuss these results and respond to investor questions. Interested participants can join using designated dial-in numbers. Ituran provides advanced location-based services and has a growing subscriber base nearing 2 million, serving customers across over 20 countries. Established in 1995, it operates widely in Latin America and Israel.