Ituran Location & Control (ITRN) Misses Q2 EPS by 52c, Revenues Beat

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Go back to Ituran Location & Control (ITRN) Misses Q2 EPS by 52c, Revenues Beat

Ituran Location and Control Ltd. Presents Results for the Second Quarter of 2020

August 25, 2020 6:45 AM EDT

AZOUR, Israel, Aug. 25, 2020 /PRNewswire/ -- Ituran Location and Control Ltd. (NASDAQ: ITRN), today announced its consolidated financial results for the second quarter of 2020.

Highlights of the second quarter of 2020

The results were impacted by the global Covid-19 pandemic; Revenue of $53.3 million; Adjusted EBITDA was $13.9 million, a decline of 9% on a sequential basis;  Generated $19.3 million in quarterly operating cash flow; Total subscribers reached 1,751,000 at the end of the quarter

Management Comment

Eyal Sheratzky, Co-CEO of Ituran said,... More