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 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.
Ituran Location and Control Ltd. (NASDAQ: ITRN) has formed a strategic partnership with Tokio Marine Insurance, enhancing its presence in the Brazilian auto insurance market. The agreement will utilize Ituran's telematics hardware for vehicle tracking and recovery, benefiting from Tokio Marine's strong market position as the 4th largest insurer in Brazil. The partnership aims to expand Ituran's install base by thousands annually, leveraging advanced AI technology to improve service and reduce insurance claims costs.
Ituran Location and Control Ltd. (NASDAQ: ITRN) announced a cash dividend of $0.48 per share, amounting to approximately US$10 million. The dividend will benefit shareholders of record as of March 23, 2021, with a payment date set for April 6, 2021. As of December 31, 2020, Ituran had retained earnings of US$127.7 million and a cash balance of US$72.2 million. The Board confirmed that this dividend distribution will not hinder the company’s operational capabilities or future plans.
Ituran Location and Control Ltd. (NASDAQ: ITRN) released its financial results for Q4 and full-year 2020, highlighting 1.768 million subscribers and revenue of $245.6 million for the year. Q4 revenue reached $63.6 million, up 5.4% from Q3, despite a 3% decline from Q4 2019. Adjusted EBITDA for Q4 was $16.6 million. The company declared a $10 million dividend and reported a strong operating cash flow of $60.1 million for the year. CEO Eyal Sheratzky expressed optimism about recovery and continued growth amid pandemic challenges.
Ituran Location and Control Ltd. (NASDAQ: ITRN) announced it will release its Q4 and full-year 2020 results on March 3, 2021, followed by a conference call at 9am Eastern Time. Management will discuss the results and answer investor questions. The company is a leader in mobility technology, specializing in location-based services like stolen vehicle recovery and fleet management. With nearly 2 million subscribers across over 20 countries, Ituran holds a significant market position in Latin America and Israel.
Ituran Location and Control Ltd. (NASDAQ: ITRN) reported its third quarter 2020 financial results, showing sequential revenue growth of 13% to $60.3 million but a year-over-year decline of 13% due to the impacts of Covid-19. Net income increased 45% to $9.3 million, aided by cost management strategies. The company generated $13.6 million in operating cash flow and returned to a net cash position. The total subscriber count rose to 1,752,000 but the OEM subscriber base decreased by 12,000. Management remains optimistic about future growth despite ongoing pandemic challenges.
Ituran Location and Control Ltd. (NASDAQ: ITRN) has announced the release of its third quarter 2020 results, scheduled for November 18, 2020. The company will host a conference call at 9am Eastern Time on the same day to discuss the results and address investor questions. With a growing subscriber base of nearly 2 million, Ituran stands as a leader in mobility technology, providing location-based services across various sectors. The company's services are utilized in over 20 countries, reinforcing its market position.