Revenue Performance - Revenue for Q1 2024 was $118.3 million, down 21.0% year-over-year from $150.6 million due to lower volumes and price pressures[4]. - Total revenues for the three months ended March 31, 2024, were $118,292, a decrease of 21.5% compared to $150,633 in the same period of 2023[34]. - Revenues from the USA decreased by 19.8% to $60,999, down from $76,070 in 2023[34]. Profitability and Margins - Gross margin improved to 24.5% in Q1 2024, compared to 19.7% in the prior year quarter, driven by an improved production footprint and lower raw material costs[5]. - Gross profit for the same period was $28,987, down from $29,602, reflecting a slight decline in profitability[26]. - Adjusted EBITDA for the three months ended March 31, 2024, was $635, down from $717 in 2023, indicating a decrease of 11.4%[28]. Expenses and Losses - Operating expenses were $34.6 million, or 29.2% of revenue, up from 23.6% in the prior year quarter, primarily due to lower revenues[6]. - Operating loss for Q1 2024 was $5.6 million, an improvement from $5.9 million in the prior year quarter, mainly due to higher gross margin[7]. - The net loss attributable to controlling interest increased to $5,087, compared to a loss of $3,778 in the prior year, representing a 34.6% increase in losses[30]. - The company reported a basic net loss per ordinary share of $0.15 for Q1 2024, compared to $0.11 in Q1 2023[30]. Cash Flow and Financial Position - The company generated positive cash flow from operations of $8.7 million in Q1 2024, compared to $7.9 million in Q1 2023[10]. - Cash flows from operating activities provided $8,743, an increase from $7,937 in the same period last year[25]. - As of March 31, 2024, the company's net cash position was $89.4 million, an increase from $83.5 million as of December 31, 2023[10]. - Cash and cash equivalents at the end of the period increased to $96,152, compared to $45,987 at the end of Q1 2023[25]. Future Outlook - The company reaffirms its expectation to deliver positive adjusted EBITDA for the full year 2024 and positive operating cash flow[11]. - The company anticipates restructuring-related cost savings of approximately $20.0 million in 2024 and $30.0 million thereafter compared to 2023[11]. Research and Development - Research and development expenses increased to $1,212, up from $1,046, reflecting a 15.9% rise in investment in innovation[25]. Finance Income - Finance income decreased to $0.7 million in Q1 2024 from $2.3 million in the prior year quarter, primarily due to foreign currency exchange rate fluctuations[8].

Financial Data and Key Metrics Changes - Global revenue in Q1 2024 was $118.3 million, down from $150.6 million in Q1 2023, representing a decrease of approximately 21% on a constant currency basis [17][21] - Adjusted EBITDA for Q1 2024 was $0.6 million, relatively stable compared to $0.7 million in the prior-year quarter [7] - Gross margin improved to 24.5% in Q1 2024 from 19.7% in the prior-year quarter, driven by enhanced production efficiency and restructuring efforts [19][21] Business Line Data and Key Metrics Changes - U.S. sales decreased by 19.8%, primarily due to soft residential end markets and a less favorable product mix [2] - Sales in Australia were down approximately 17.5% on a constant currency basis, reflecting slower market conditions [18] - Canada sales decreased by 9.9% on a constant currency basis, experiencing similar market dynamics as the U.S. [36] Market Data and Key Metrics Changes - Sales in Israel fell by 39.3% on a constant currency basis, mainly due to the war on terror, although sequentially, sales improved by 68.9% [37] - The company noted that competitive pressures impacted sales across various markets [17] Company Strategy and Development Direction - The company is focused on enhancing innovation and brand development while refining its production footprint [6] - A strategic shift from a manufacturing-centric approach to prioritizing R&D, marketing, and branding is underway [31] - The closure of the Sdot Yam and Richmond Hill plants is expected to save approximately $30 million annually, with some savings reinvested into innovation and marketing [32][58] Management's Comments on Operating Environment and Future Outlook - Management acknowledged persistent global economic headwinds and regulatory changes in Australia as challenges but expressed confidence in the company's strategic transformation [31] - The company reiterated its outlook for positive adjusted EBITDA and cash flow from operations for the full year of 2024 [21][63] Other Important Information - The company has a strong balance sheet with cash and equivalents totaling $96.2 million and a net cash position of $89.4 million as of March 31, 2024 [39] - The company is actively seeking alternative sources for raw materials due to recent trade restrictions imposed by Turkey [38] Q&A Session Summary Question: How much did revenue benefit from the accelerated sale of inventory? - Management indicated that the accelerated sales contributed approximately 260 basis points to gross margin but did not significantly impact revenue [61] Question: What revenue number is needed to achieve breakeven on EBITDA for the full year? - Management did not provide specific revenue guidance but expects seasonal trends to continue, with Q1 typically being the lowest quarter [44] Question: Can you expand on the performance in U.S. big box stores? - Management noted that big box stores performed better than the residential segment, attributing this to high interest rates affecting residential activity [50] Question: How is the rollout of porcelain products progressing? - The company has started offering porcelain in the U.S., which is still small in volume but shows promising potential for future growth [53] Question: How much inventory is left at the Richmond Hill plant? - Most of the inventory was sold in Q1, with minimal remaining inventory expected to impact cash flows or earnings after Q2 [54]

CaesarStone (CSTE) came out with a quarterly loss of $0.13 per share versus the Zacks Consensus Estimate of a loss of $0.16. This compares to loss of $0.17 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 18.75%. A quarter ago, it was expected that this maker of quartz surface slabs would post a loss of $0.14 per share when it actually produced a loss of $0.28, delivering a surprise of -100%.Over the last four quarters, the com ...

For those looking to find strong Construction stocks, it is prudent to search for companies in the group that are outperforming their peers. Has CaesarStone (CSTE) been one of those stocks this year? By taking a look at the stock's year-to-date performance in comparison to its Construction peers, we might be able to answer that question.CaesarStone is one of 98 individual stocks in the Construction sector. Collectively, these companies sit at #1 in the Zacks Sector Rank. The Zacks Sector Rank includes 16 di ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 20-F (Mark One) ☐ REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR (g) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ______ to ______ OR ☐ SHELL COMPANY REPORT PURSUANT TO SECTION ...

The Construction group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. CaesarStone (CSTE) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? A quick glance at the company's year-to-date performance in comparison to the rest of the Construction sector should help us answer this question.CaesarStone is one of 98 individual stocks in the Construction sector ...

Caesarstone Ltd. (NASDAQ:CSTE) Q4 2023 Earnings Conference Call February 21, 2024 8:30 AM ET Company Participants Brad Cray - IR Yosef Shiran - CEO Nahum Trost - CFO Conference Call Participants Reuben Garner - The Benchmark Company Stanley Elliott - Stifel Operator Greetings, and welcome to the Caesarstone Fourth Quarter 2023 Earnings Conference Call. [Operator Instructions] As a reminder, this conference is being recorded. It is now my pleasure to introduce your host, Brad Cray of ICR. Thank you. You may ...

Exhibit 99.1 Caesarstone Reports Fourth Quarter and Full Year 2023 Financial Results - Fourth Quarter Revenue of $128.5 Million and Full Year Revenue of $565.2 Million - - Full Year Cash Flow from Operations of $66.5 Million - - Initiated Restructuring Actions During 2023 to Reignite Long-term Growth and Profitability - - Expects to Realize Restructuring-Related Cost Savings of Approximately $20.0 Million in Full Year 2024 and $30.0 Million Thereafter Compared to Full Year 2023 - MP MENASHE, Israel – Februa ...

Caesarstone Ltd (NASDAQ:CSTE) Q3 2023 Earnings Call Transcript November 8, 2023 8:30 AM ET Company Participants Brad Cray - Investor Relations Yosef Shiran - Chief Executive Officer Nahum Trost - Chief Financial Officer Conference Call Participants Reuben Garner - The Benchmark Company Stanley Elliott - Stifel Operator Greetings and welcome to the Caesarstone Third Quarter 2023 Earnings Conference Call. At this time all participants are in a listen-only mode. A brief question-and-answer session will follow ...

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