Ituran Location & Control (ITRN) Tops Q4 EPS by 4c, Revenues Miss

Ituran Location & Control (NASDAQ: ITRN) reported Q4 EPS of $0.74, $0.04 better than the analyst estimate of $0.70. Revenue for the quarter came in at $79.4 million versus the consensus estimate of $90.39 million.

• Revenue of $79.2 million, up 31% year-over-year;
• Net income of $15.2 million, up 55% year-over-year;
• Adjusted EBITDA of $25.2 million (31.7% of revenues), up 38% year-over-year
• Generated $18.5 million in quarterly operating cash flow;
• Dividend of $5 million declared for the quarter;

Management Comment

Eyal Sheratzky, Co-CEO of Ituran said, "Our growth in 2018 was driven by both organic growth at Ituran as well as the consolidation of Road Track, which has significantly expanded our business. This is the first full quarter that we are reporting our results as a consolidated company. As can be seen in the results, we are now a company on a completely new scale. We have an adjusted EBITDA annual run-rate of $100 million. We also see increased potential due to the multiple top-line synergies that we are looking to harvest, throughout the regions in which we operate. We look forward to further building on our already highly successful business over the coming quarters and years."

For earnings history and earnings-related data on Ituran Location & Control (ITRN) click here.

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