Ituran reports Q2 EPS 67c vs. 66c last year

Reports Q2 revenue $86.79M vs. $84.87M last year. Eyal Sheratzky, co-CEO of Ituran (ITRN) said, “I am pleased to report another solid quarter for Ituran, as we continue to execute on our strategic objectives and deliver steady growth in both our subscriber base and financial performance. We achieved this despite a brief and intensive war with Iran during the quarter, which caused a temporary cessation of new car sales in Israel which lead to somewhat lower product sales for Ituran. Looking at the broader picture, our results demonstrate ongoing expansion in our large subscriber base across our target geographies. We continue to launch attractive new and advanced telematics products and services adding value to our customer base, including a new product targeted to motorcycle owners which is seeing solid traction. Together with the new OEM we have recently started working with, 2025 is shaping up to be another year of growth and profitability for Ituran. We reiterate our expectations to grow our subscriber base by 220-240,000 net in 2025”.