Ituran beats Q2 estimates with record revenue up 21% YoY

On Wednesday, Ituran Location and Control Ltd. (NASDAQ:ITRN) reported strong second quarter results that surpassed analyst forecasts. The company's stock exhibited little change in after-hours trading after the announcement. Adjusted earnings per share came in at $0.88, exceeding the consensus estimate of $0.82 by $0.06. Revenue for the quarter reached a record $104.8 million, a 21% increase compared to the previous year's $96.8 million.

Subscription revenue, which makes up 76% of total revenue, grew by 25% year-over-year to $79.8 million, while product revenue increased by 8% to $25.0 million. Ituran added 41,000 new subscribers during the quarter, bringing the total subscriber base to 2.71 million. Net income rose 29% year-over-year to $17.3 million, and EBITDA increased by 24% to $28.5 million.

Eyal Sheratzky, Co-CEO of Ituran, stated that the second quarter was an outstanding performance for the company, with record revenue, increased subscription revenue, and improved operating metrics. The company declared a quarterly dividend of $10 million, or $0.50 per share, and repurchased $3.0 million in shares under its buyback program. As of June 30, 2026, Ituran held net cash and marketable securities of $103.7 million with no debt.