Ituran Location and Control (ITRN) Q2 2026 earnings summary

Executive summary

• Achieved record Q2 2026 revenue of $104.8 million, up 21% year-over-year, with strong growth across all profit metrics and subscriber additions, including 41,000 net new subscribers reaching 2,711,000.

• Subscription revenue rose 25% year-over-year, and product revenue increased 8%, driven by organic demand and OEM partnerships.

• Advanced growth initiatives such as IturanMOB in the U.S., Credit Carbon, and big data monetization projects, with industry recognition and expansion.

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

Financial highlights

• Gross profit for Q2 2026 was $53.4 million, up 24% year-over-year, with a gross margin of 50.9%.

• EBITDA rose 24% year-over-year to $28.5 million (27.2% margin), and net income increased 29% to $17.3 million (16.5% margin), with diluted EPS of $0.88.

• Operating income rose 30% year-over-year to $23.8 million, representing 22.7% of revenues.

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

Outlook and guidance

• Management is confident in continued growth and profitability through 2026, driven by expanding OEM programs, new revenue streams, and maturing growth initiatives.

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