Ituran Location and Control Reiterated Continued Revenue And Profit Growth For FY24, Adding 35K-40K New Subscribers/Quarter Throughout 2024
Portfolio Pulse from Benzinga Newsdesk
Ituran Location and Control (ITRN) has reiterated its expectations for continued revenue and profit growth for FY24, projecting the addition of 35,000 to 40,000 new subscribers per quarter. The company expects full-year 2024 EBITDA to be between $90-95 million and aims to surpass $100 million in 2025, assuming stable exchange rates and no significant deterioration in global macro-economic or political conditions.
August 19, 2024 | 10:46 am
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Ituran Location and Control (ITRN) has reiterated its expectations for continued revenue and profit growth for FY24, projecting the addition of 35,000 to 40,000 new subscribers per quarter. The company expects full-year 2024 EBITDA to be between $90-95 million and aims to surpass $100 million in 2025, assuming stable exchange rates and no significant deterioration in global macro-economic or political conditions.
The reiterated guidance for continued revenue and profit growth, along with specific EBITDA targets, is a positive indicator for investors. The addition of new subscribers each quarter further supports the growth outlook. However, the guidance is contingent on stable exchange rates and macro-economic conditions.
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