Ituran Posts 19% Revenue Growth to $102.7M and $0.85 EPS Beat
ITRN•
ITRN•Ituran Location and Control reported Q1 EPS of $0.85, surpassing the $0.80 consensus, alongside record revenue of $102.67 million, up 19% year-over-year. Subscription revenue rose 21% to $75.4 million and the company approved a $0.50 per-share cash dividend while maintaining a 0.02 debt-to-equity ratio.
Ituran delivered Q1 earnings per share of $0.85, beating the $0.80 consensus by $0.05 and highlighting robust profitability in its stolen vehicle recovery and fleet management services.
Total revenue reached $102.67 million, a 19% year-over-year increase and the first quarter above $100 million. Subscription revenues jumped 21% to $75.4 million, driven by 40,000 net subscriber additions, bringing the total customer base to 2.67 million.
The board approved a $0.50 cash dividend per share, reflecting strong cash generation. Financial stability remains high with a debt-to-equity ratio of 0.02 and a current ratio of 2.28, indicating low leverage and solid liquidity.