Ituran announces Q2 earnings per share of 67 cents, up from 66 cents a year ago.
Q2 Revenue Performance: Ituran reported Q2 revenue of $86.79 million, an increase from $84.87 million in the previous year.
Impact of Regional Conflict: The company faced challenges due to a brief war with Iran, which temporarily halted new car sales in Israel and affected product sales.
Subscriber Base Growth: Despite these challenges, Ituran continues to expand its subscriber base and plans to grow by 220-240,000 net subscribers in 2025.
New Product Launches: Ituran is introducing advanced telematics products, including one aimed at motorcycle owners, contributing to positive customer engagement and future growth prospects.
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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.
