Ituran Location & Control (ITRN) Misses Q1 EPS by 4c

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Go back to Ituran Location & Control (ITRN) Misses Q1 EPS by 4c

ITURAN PRESENTS RECORD AFTER-MARKET SUBSCRIBER GROWTH IN ITS RESULTS FOR THE FIRST QUARTER OF 2022

May 24, 2022 6:30 AM EDT

Added 43,000 net subscribers and presents 7% growth in revenue & 13% growth in EBITDA

AZOUR, Israel , May 24, 2022 /PRNewswire/ -- Ituran Location and Control Ltd. (NASDAQ: ITRN), today announced its consolidated financial results for the first quarter of 2022.

Highlights of the first quarter of 2022

43,000 net subscriber growth: net increase in aftermarket of 59,000 and net decrease in OEM of 16,000 with total number of subscribers at 1,924,000 at quarter-end;Revenues of $72.1 million, an increase of 7% year-over-year;Net income was $8.7... More