|Over a week ago|
MiX Telematics reports Q2 EPS 20c, consensus 2c » 08:3010/2910/29/20
Reports Q2 revenue…
Reports Q2 revenue $27.6M, consensus $26.09M. "MiX Telematics' Q2 results were highlighted by profitability and cash generation that was significantly ahead of expectations. We experienced modest signs of improvement within some customer verticals and fleet segments due to increases in usage activity from the COVID-related shutdowns seen in the spring," said CEO Stefan Joselowitz. "Our sharp focus on customer success and the tangible ROI our comprehensive telematics platform can provide to fleet operators has reinforced MiX's strategic value in the market. We are confident this will generate a return to meaningful subscription revenue growth once economic conditions normalize."
|Over a month ago|
MiX Telematics announces partnership agreement with Navistar » 10:0209/2409/24/20
MiX Telematics (MIXT)…
MiX Telematics (MIXT) announced a new partnership with Navistar (NAV). Through the partnership, MiX and Navistar plan to provide mutual customers with an enhanced and comprehensive combined data set. MiX said in a statement that "Customers and manufacturers reliance on telematics data has evolved over the past few years in terms of pursuing better uptime and improved repair support. OEMs such as Navistar embed telematics hardware into their vehicles at the point of manufacture, to remotely understand and analyze fault codes and usage once out in the field."
|Over a quarter ago|
MiX Telematics reports Q1 non-GAAP EPS 8c, consensus (3c) » 06:1707/3007/30/20
Reports Q1 revenue…
Reports Q1 revenue $27.5M, consensus $27.04M. "MiX Telematics' Q1 performance was relatively solid given the challenges presented by the COVID-19 pandemic. I am pleased by the progress we made on our three core goals this year of providing the best-in-class software and support to our customers, preserving profitability and continuing to invest in our strategic growth initiatives." said CEO Stefan Joselowitz. "Although the near-term demand environment is difficult and uncertain, we are encouraged by the strong activity we see in our pipeline. We continue to believe that our comprehensive fleet management platform is a high-ROI and mission critical investment for many companies."
Dairy Farmers of South Africa renew contract with MiX Telematics » 10:0007/1407/14/20
MiX Telematics has…
MiX Telematics has announced that the national milk buyer, Dairy Farmers of South Africa, will be renewing their contract with MiX Telematics Africa for another 30 months. DFSA has been a MiX client for the past 16 years. The company relies upon MiX Telematics to provide vital fleet management solutions for their 85 trucks which collect milk from farmers in virtually every province of South Africa and deliver trusted products, including those of the iconic Clover brand, to stores countrywide.
MiX Telematics price target lowered to $18 from $30 at Canaccord » 08:1205/2905/29/20
Canaccord analyst T.…
Canaccord analyst T. Michael Walkley lowered the firm's price target on MiX Telematics to $18 from $30 and keeps a Buy rating on the shares. The analyst said he expects weaker trends with declining subscriptions that will persist through 2021 with Q1 the most impacted followed by a slower steady recover through the year.
MiX Telematics reports Q4 non-GAAP EPS 13c, consensus 11c » 06:0905/2805/28/20
Reports Q4 revenue…
Reports Q4 revenue $36.2M, consensus $27.29M. "MiX's Q4 performance was solid in the context of the unprecedented uncertainty caused by the COVID-19 pandemic, significant related exchange rate volatility and challenges in the oil and gas market. Our mission at MiX is to continue providing the best-in-class software and support for our customers who rely on us as they adapt their businesses to the current situation," said CEO Stefan Joselowitz. "Although the near-term demand environment is uncertain, with our continued investments in our strategic initiatives, we strongly believe MiX is well positioned to meet our long-term subscription revenue growth and profitability targets as global economic conditions begin returning to normal."
MiX Telematics renews contract with UK retailer Post Office » 07:1005/0105/01/20
MiX Telematics announced…
MiX Telematics announced that Post Office, a UK retailer, has renewed its contract with the company. Post Office offers over 170 different products and services, including postal services, financial services, broadband and home phone, foreign currency and travel insurance. The contract renewal comprises an additional two years across 268 vehicles.
MiX Telematics appointed to assist Brazil major ethanol producer » 07:2504/2104/21/20
MiX Telematics confirmed…
MiX Telematics confirmed that one of Brazil's largest ethanol and sugar producers have appointed MiX Telematics to assist in modifying driver behavior and reducing vehicle collisions. The major industry player accounts for 10% of ethanol supply in Brazil; grinding 27 million tons of sugarcane in one harvest year, resulting in the production of 2.1 billion liters of ethanol. The company is present in four Brazilian states and employs over 10,000 people. MiX Telematics will be assisting the company to optimize the safety and efficiency of over 650 vehicles currently operating throughout Brazil.
MiX Telematics: Major European postal service to expand telematics deployment » 07:0704/1604/16/20
MiX Telematics has…
MiX Telematics has announced that a major European postal and parcel delivery service, will be expanding their telematics deployment with MiX in Europe to nearly 5,000 vehicles. The growth further highlights the client's confidence in MiX Telematics' solutions - a relationship that has already generated superb results, including substantial fuel saving, improved driver safety and reduction in risk. The expansion will see the deployment of telematics solutions to an additional 3,100 light commercial vehicles.
First Analysis downgrades MiX Telematics to Outperform on energy exposure » 13:2103/0903/09/20
First Analysis analyst…
First Analysis analyst Howard Smith downgraded MiX Telematics to Outperform from Strong Buy with a $21 price target. The 25% decline in oil prices will translate into weaker financial results for the company from energy customers idling vehicles and contracting fleet sizes as well as delaying deployments until crude oil recovers and is sustained at higher levels, Smith tells investors in a research note. However, the analyst still expects MiX to deliver recurring revenue growth and expand adjusted EBITDA margin in fiscal 2021. This warrants share exposure even in a challenging backdrop, says Smith. The analyst points out that MiX has significant exposure to energy, which is the company's largest vertical at roughly 25% of subscription revenue.