Ituran Location and Control (ITRN) Q2 2026 earnings summary

Executive summary

• Achieved record quarterly revenue of $104.8 million in Q2 2026, up 21% year-over-year, with strong growth across all profit metrics and subscriber additions.

• Added 41,000 net new subscribers, reaching 2,711,000 total at quarter-end, driven by organic demand and OEM partnerships.

• Continued expansion of OEM partnerships, including new programs with Stellantis and ongoing discussions with other major automakers.

• Advanced growth initiatives in car rental telematics (IturanMob), carbon credit platforms, and big data monetization, with expansion into the US and industry recognition.

Financial highlights

• Revenue grew 21% year-over-year to $104.8 million, a new record, with recurring subscription revenue rising 25% to $80 million (76% of total revenue).

• EBITDA increased 24% year-over-year to $28.5 million (27.2% margin).

• Net income was $17.3 million (16.5% margin), up 29% year-over-year; diluted EPS was $0.88, up from $0.68.

• Gross profit for the quarter was $53.4 million, up 24% year-over-year, with a gross margin of 50.9%.

• Cash flow from operations reached a record $32.2 million.

Outlook and guidance

• Management expressed confidence in continued growth and profitability throughout 2026, supported by broad-based demand and maturing growth initiatives.

• IturanMob in the U.S. is in early stages, with growing market interest but limited near-term financial impact expected.

• Big data initiatives expected to yield more and larger deals, especially in Israel, with plans to expand internationally.