Ituran Location and trol .(ITRN)

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Ituran Location and trol .(ITRN) - 2022 Q3 - Quarterly Report
2022-11-21 12:30
Exhibit 99.1 AZOUR, Israel – November 21, 2022 – Ituran Location and Control Ltd. (NASDAQ: ITRN), today announced its consolidated financial results for the third quarter of 2022. Highlights of the Third Quarter of 2022 Management Comment Eyal Sheratzky, Co-CEO of Ituran said, "We are very proud to have crossed this significant milestone for our company of 2 million subscribers. Over the past four quarters our subscriber growth has accelerated dramatically and is the culmination of many years effort in addi ...
Ituran Location and trol .(ITRN) - 2022 Q2 - Quarterly Report
2022-08-29 10:40
Exhibit 99.1 ITURAN LOCATION AND CONTROL LTD. PRESENTS RESULTS FOR THE SECOND QUARTER OF 2022 AZOUR, Israel – August 29, 2022 – Ituran Location and Control Ltd. (NASDAQ: ITRN), today announced its consolidated financial results for the second quarter of 2022. Highlights of the Second Quarter of 2022 Management Comment Eyal Sheratzky, Co-CEO of Ituran said, "We are very pleased with the results of the second quarter, especially at a time when component supply chains remained tight and new car sales remain co ...
Ituran Location and trol .(ITRN) - 2022 Q1 - Earnings Call Transcript
2022-05-24 17:56
Ituran Location and Control Ltd. (NASDAQ:ITRN) Q1 2022 Earnings Conference Call May 24, 2022 10:00 AM ET Company Participants Kenny Green – GK Investor Relations Eyal Sheratzky – Co-Chief Executive Officer Eli Kamer – Executive Vice President, Chief Financial Officer Conference Call Participants David Kelly – Jefferies Tavy Rosner – Barclays Operator Ladies and gentlemen, thank you for standing by. Welcome to the Ituran First Quarter 2022 Results Conference Call. All participants are present in listen-only ...
Ituran Location and trol .(ITRN) - 2021 Q4 - Annual Report
2022-04-26 12:00
UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 OR ☐ SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Date of event requiring this shell company report.......................................... FORM 20-F ☐ REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR (g) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2021. OR ☐ TRAN ...
Ituran Location and trol .(ITRN) - 2022 Q1 - Quarterly Report
2022-03-07 11:30
Exhibit 99.1 ITURAN PRESENTS RECORD SUBSCRIBER GROWTH IN ITS RESULTS FOR THE FOURTH QUARTER & FULL YEAR OF 2021 44,000 net subscriber adds & double-digit revenue and EBITDA growth for Q4 & FY 2021 AZOUR, Israel – March 7, 2022 – Ituran Location and Control Ltd. (NASDAQ: ITRN), today announced its consolidated financial results for the fourth quarter of 2021. Revenues for the fourth quarter of 2021 were $70.4 million, an increase of 11% compared with revenues of $63.6 million in the fourth quarter of 2020. H ...
Ituran Location and trol .(ITRN) - 2021 Q3 - Quarterly Report
2021-11-16 11:30
Exhibit 99.1 ITURAN LOCATION AND CONTROL LTD. PRESENTS RESULTS FOR THE THIRD QUARTER OF 2021 AZOUR, Israel – November 16, 2021 – Ituran Location and Control Ltd. (NASDAQ: ITRN), today announced its consolidated financial results for the third quarter of 2021. Highlights of the third quarter of 2021 Management Comment Eyal Sheratzky, Co-CEO of Ituran said, "We are very pleased with our results, especially with the continued strong growth in our after-market subscriber base and the return to growth in the OEM ...
Ituran Location and trol .(ITRN) - 2020 Q4 - Annual Report
2021-04-26 10:03
UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 20-F ☐ REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR (g) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2020. OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☐ SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Date of ...
Ituran Location and trol .(ITRN) - 2020 Q1 - Earnings Call Transcript
2020-05-13 18:47
Financial Data and Key Metrics Changes - Revenues for Q1 2020 were $68.4 million, a decrease of 7% compared to $73.6 million in Q1 2019, but an increase of 4% from the previous quarter [25] - Subscription fee revenues were $49 million, representing an 8% decrease year-over-year and a 1% decrease from the previous quarter [26] - Net income for Q1 2020 was $6.4 million, or 9.3% of revenues, a decrease of 21% compared to $8.1 million in Q1 2019, but an increase of 29% from the previous quarter [31] - Operating income was $10.1 million, or 14.7% of revenues, a decrease of 25% year-over-year but an increase of 3% from the previous quarter [29] Business Line Data and Key Metrics Changes - The subscriber base amounted to 1,794,000 as of March 31, 2020, with 17,000 new aftermarket subscribers added, while the OEM subscriber base declined by 4,000 [27] - Product revenues were $19.4 million, a decrease of 5% compared to Q1 2019 but an increase of 22% from the previous quarter [27] Market Data and Key Metrics Changes - In Israel, aftermarket business remained stable until March, with new car sales down 35% in March and 90% in April due to the pandemic [10][15] - In Brazil, new car sales were down 22% in March and 77% in April, reflecting significant economic weakness [15] Company Strategy and Development Direction - The company aims to expand its usage-based insurance (UBI) offerings beyond Israel into Argentina and Brazil, having signed agreements with multiple insurance companies [12][14] - Cost-cutting measures include salary reductions of up to 30% and a suspension of dividend payments to preserve cash [19][20] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about returning to growth once the pandemic's impact subsides, highlighting the resilience of the business model with a strong subscriber base [22][23] - The company expects Q2 2020 to see the most significant impact from the pandemic, with EBITDA projected to decline by 10% to 20% compared to Q1 [22] Other Important Information - The company had cash and marketable securities of $50.1 million and net debt of $13.4 million as of March 31, 2020 [33] - The company repurchased a total of 227,828 shares amounting to approximately $6 million [34] Q&A Session Summary Question: Recovery expectations in Israel vs. Brazil - Management indicated that Israel is expected to recover more smoothly than Brazil due to the timing of the pandemic and the reopening of car dealerships [36][38] Question: Headcount reductions and cost savings - Management clarified that most cost reductions came from salary cuts rather than layoffs, with some temporary reductions in workforce due to decreased service needs [42][44] Question: Magnitude of cost savings in Q2 - Management stated that significant cost reductions were implemented to offset expected declines in revenue, with a conservative estimate of a 10% to 20% decline in EBITDA for Q2 [46][47] Question: OEM business pressures - Management noted that the OEM business in Brazil and Argentina was already under pressure before the pandemic, and the situation is expected to worsen due to the decline in car sales [48][49] Question: Currency impact on financials - Management acknowledged a currency impact of around $0.5 million in Q1 2020 compared to the previous year, primarily due to the weakness of the Brazilian real [52] Question: Use of capital and dividends - Management emphasized a conservative approach to capital use, focusing on preserving cash and being prepared for potential market opportunities [53] Question: Subscriber growth expectations - Management expressed cautious optimism about subscriber growth in Q3, contingent on market conditions improving [56][58]
Ituran Location and trol .(ITRN) - 2019 Q4 - Annual Report
2020-04-23 13:26
UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 20-F ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2019 Commission file no. 001-32618 ITURAN LOCATION AND CONTROL LTD. (Exact name of Registrant as specified in its charter and translation of Registrant's name into English) Israel (Jurisdiction of incorporation or organization) 3 Hashikma Street, Azour, Israel (Address of principal executive offices) Eli ...
Ituran Location and trol .(ITRN) - 2019 Q4 - Earnings Call Transcript
2020-03-04 16:33
Ituran Location and Control Ltd (NASDAQ:ITRN) Q4 2019 Earnings Conference Call March 4, 2020 9:00 AM ET Company Participants Ehud Helft - CCG Investor Relations Eyal Sheratzky - Co-CEO & Director Udi Mizrahi - Deputy CEO, International Operation & VP, Finance Conference Call Participants Tavy Rosner - Barclays Bank David Kelley - Jefferies Sasha Karim - Inflection Point Investments Operator Ladies and gentlemen, thank you for standing by. Welcome to Ituran's Fourth Quarter and Full Year 2019 Results Confere ...