Ituran Reports Growth and Optimistic Outlook

Ituran Location And Control (ITRN) has released an update.

Ituran Location and Control Ltd. reported a positive financial outcome for the second quarter of 2024, with a 4% increase in revenue to $84.9 million and a 7% rise in net income to $13.1 million. The company’s subscriber base grew to over 2.3 million, and it declared an $8 million dividend, affirming its commitment to shareholder returns. Ituran’s management remains optimistic about continued growth, reiterating its revenue and profit guidance for the year, with expectations of adding 35,000 to 40,000 net new subscribers each quarter.

For further insights into ITRN stock, check out TipRanks’ Stock Analysis page.