The Israeli telematics firm reports record quarterly sales and earnings above analyst expectations for the second quarter.
Ituran Location posted Q2 GAAP earnings of $0.88 per share, exceeding estimates by $0.02, as revenue climbed 21% year-over-year to a record $104.8 million. The $104.79 million in sales surpassed consensus by $4.94 million, driven by strong demand for vehicle tracking and recovery services.
In the same period last year, the company reported revenue of $86.8 million and earnings of $0.72 per share. Analysts had anticipated revenue of $99.85 million and EPS of $0.86 for the quarter, according to compiled estimates.
The company did not disclose immediate market reaction in the release.