Ituran Location Reports GAAP EPS of $0.67 and Revenue of $86.8 Million
Q2 Financial Performance: Ituran Location reported a Q2 GAAP EPS of $0.67 and revenue of $86.8 million, reflecting a 2.3% year-over-year increase.
Subscriber Growth: The company added 40,000 net subscribers in the quarter, bringing the total to 2,548,000, which is an increase of 219,000 compared to the previous year.
Subscription Revenue Increase: Subscription fees for the quarter reached $63.8 million, up 6% from Q2 2024, with a 7% growth in local currencies year-over-year.
Market Valuation Insights: Analysts suggest that Ituran's valuation remains attractive despite mixed earnings results, as indicated by Seeking Alpha’s Quant Rating.
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Ituran Signs New OEM Agreement with Renault in Latin America
New Agreement with Renault: Ituran Location and Control Ltd. has signed a three-year service agreement with Renault to provide vehicle telematics services in Latin America, with potential for global expansion.
Growth Potential: The partnership is expected to enhance Ituran's market presence and accelerate subscriber growth, as it aligns with Renault's strategy to offer innovative services to customers.
