Caesarstone(CSTE)

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Caesarstone(CSTE) - 2022 Q2 - Earnings Call Transcript
2022-08-03 15:19
Caesarstone Ltd. (NASDAQ:CSTE) Q2 2022 Earnings Conference Call August 3, 2022 8:30 AM ET Company Participants Brad Cray - Investor Relations Yuval Dagim - Chief Executive Officer Nahum Trost - Chief Financial Officer Conference Call Participants Thomas Henry - The Benchmark Company Operator Greetings. Welcome to the Caesarstone Second Quarter 2022 Earnings Call. At this time, all participants are in listen-only mode. Brief question-and-answer session will follow the formal presentation. [Operator Instructi ...
Caesarstone(CSTE) - 2022 Q2 - Quarterly Report
2022-08-02 16:00
C caesarstone® Exhibit 99.1 Caesarstone Reports Second Quarter 2022 Financial Results – Record Second Quarter Revenue up 10.3% to $180.3 Million; up 13.7% on a Constant Currency Basis – – Net Income attributable to Controlling Interest of $11.1 Million, or $0.32 Per Share – – Adjusted EPS of $0.20 – – Adjusted EBITDA of $17.1 Million – – In July 2022, Acquired a Leading Distributor in Sweden, Establishing First Direct Go-To-Market Presence in E.U. – – Declares Dividend of $0.25 per share – – Reiterates Full ...
Caesarstone(CSTE) - 2022 Q1 - Earnings Call Presentation
2022-05-16 10:15
Bunnings LIFE IN STONE Caesarstone Investor Presentation 2022 May 2022 DISCLAIMER Information provided in this presentation may contain statements relating to current expectations, estimates, forecasts and projections about future events that are "forward looking statements" as defined in the Private Securities Litigation Reform Act of 1995. These forward looking statements relate to the Company's plans, objectives and expectations for future operations, including estimations relating to the impact of the C ...
Caesarstone(CSTE) - 2022 Q1 - Earnings Call Transcript
2022-05-11 17:36
Caesarstone Ltd. (NASDAQ:CSTE) Q1 2022 Earnings Conference Call May 11, 2022 8:30 AM ET Company Participants Brad Cray - Investor Relations Yuval Dagim - Chief Executive Officer Nahum Trost - Chief Financial Officer Conference Call Participants Stanley Elliott - Stifel Reuben Garner - The Benchmark Company Operator Greetings and welcome to the Caesarstone First Quarter 2022 Earnings Conference Call. [Operator Instructions] As a reminder, this conference is being recorded. It is now my pleasure to introduce ...
Caesarstone(CSTE) - 2022 Q1 - Quarterly Report
2022-05-10 16:00
Ocaesarstone® Exhibit 99.1 Caesarstone Reports First Quarter 2022 Financial Results – Record First Quarter Revenue up 16.7% to $170.4 Million; up 18.5% on a Constant Currency Basis – – Net Income attributable to Controlling Interest of $6.2 Million, or $0.18 Per Share – – Adjusted EPS of $0.14 – – Adjusted EBITDA of $15.7 Million – – Reiterates Full Year 2022 Outlook – MP MENASHE, Israel – May 11, 2022 - Caesarstone Ltd. (NASDAQ: CSTE), a leading developer and manufacturer of high-quality engineered surface ...
Caesarstone(CSTE) - 2021 Q4 - Annual Report
2022-03-15 20:05
Financial Performance and Costs - In 2021, 50.0% of the company's revenues were denominated in U.S. dollars, with significant portions in Australian dollars (18.4%) and Canadian dollars (13.1%) [21] - The average cost of quartz increased by 12.0% in 2021, following a 3.2% increase in 2020, impacting gross profit margins [26] - Polyester costs rose by approximately 54% in 2021, which could lead to a decrease of about 1% in gross profit margin if prices increase by 10% [27] - Raw materials accounted for approximately 29% of the cost of goods sold in 2021, with quartz making up about 33.8% of raw materials costs [26] - Rising costs of raw materials and shipping could materially and adversely affect the company's financial condition if these costs cannot be passed on to customers [22] - The company has significant intangible assets, with goodwill amounting to $45.8 million and other intangible assets totaling $9.6 million as of December 31, 2021 [29] - The company has approximately $3.8 million in unrecognized tax benefits as of December 31, 2021 [61] - The company is subject to various international operational risks, including fluctuations in exchange rates and compliance with foreign regulations [58] - The company is exposed to potential tax liabilities due to uncertainties in tax determinations and inter-company arrangements [61] Supply Chain and Operational Challenges - The company experienced disruptions in its supply chain during 2021, which are expected to continue into 2022, affecting the availability of essential raw materials [25] - The company faces challenges in managing its production and supply chain, which could lead to inefficiencies and hinder product availability [30] - The company’s operations are subject to disruptions from various factors, including COVID-19-related supply chain difficulties, which could adversely affect business performance [30] - Disruptions in the supply chain due to geopolitical tensions, such as those between Turkey and Israel, could adversely impact the company's ability to enforce supply contracts [37] - Labor disputes could result in work stoppages, impacting product output and contractual obligations, which may adversely affect financial results [87] Market and Competitive Landscape - The company faces intense competition from manufacturers of alternative surface materials, which could adversely impact its market share and financial results [28] - The company aims to expand its product offerings and grow its business in response to customer demands and competitive pressures, particularly through acquisitions like Lioli and Omicron [29] - The engineered quartz surfaces represented 20% of the total countertops by volume installed in the U.S. in 2020, indicating a significant market opportunity [33] - The company’s revenues are significantly concentrated geographically, with the four largest markets accounting for 85.1% of total revenues in 2021, specifically the U.S. (47.4%), Australia (18.4%), Canada (13.1%), and Israel (6.1%) [39] - The company faces potential legal exposure related to silicosis claims, with an estimated total net exposure of approximately $36.2 million after accounting for product liability insurance coverage [44] Regulatory and Compliance Issues - Increased media coverage regarding the hazards of exposure to respirable crystalline silica (RCS) may adversely affect consumer preferences and lead to a material decline in revenues [45] - Regulatory changes in Australia, including a new code of practice for managing RCS exposure, may disrupt the market and impose additional compliance costs on the company [46] - The Australian federal government established a national dust disease taskforce in July 2019, which may lead to further regulatory scrutiny and potential market disruptions [46] - The company faces compliance risks related to environmental and health regulations, which may result in increased costs and operational disruptions [49] - The company may incur additional expenses to comply with new regulations regarding RCS exposure, which could negatively impact financial results [47] Employee and Labor Dynamics - High turnover rates of key employees at acquired companies like Lioli could result in operational delays and negatively impact financial results [29] - The company has experienced a significant increase in employee turnover during 2021, complicating recruitment and retention efforts post-COVID-19 [96] - Labor shortages and increased turnover have led to higher employee-related costs, impacting profitability and operational efficiency [98] - The competitive market for qualified personnel has made it challenging for the company to attract and retain skilled employees, affecting business operations [97] - Increased labor costs due to shortages and turnover could materially affect the company's operations, results, liquidity, and cash flows [98] Strategic Initiatives and Growth Plans - The company is increasing its distribution network in the United States, particularly in the South, Southeast, and Ohio Valley markets, following the Omicron Acquisition [33] - The company is accelerating its strategy to acquire basic product models from third-party OEMs, primarily from China, Spain, and Italy, to optimize production capabilities [32] - The company has commenced manufacturing and sales of porcelain products, including porcelain slabs and countertops, following the Lioli Acquisition, which may face adverse tariffs impacting sales into the EEU [37] - Future acquisitions may require substantial cash usage or incur significant debt, impacting business operations and share price if perceived as overpayment [96] - Integration of acquired businesses may be difficult, costly, and time-consuming, potentially disrupting ongoing operations and management focus [96] Shareholder and Corporate Governance - As of March 11, 2022, Kibbutz Sdot-Yam and Tene beneficially owned 14,029,494 shares, constituting approximately 40.7% of the company's shares [65] - The concentration of share ownership may limit the ability of other shareholders to influence corporate matters, potentially affecting share price [77] - Future sales of ordinary shares by major shareholders could negatively impact the market price of the company’s shares [82] - The company cannot assure the amount or timing of future dividend payments and may decide not to pay dividends [73] - The company revised its dividend policy in February 2020 to provide for a quarterly cash dividend of up to 50% of reported net income attributable to controlling interest [73]
Caesarstone (CSTE) Investor Presentation - Slideshow
2022-02-14 18:14
Caesarstone Investor Presentation 2021 February 2022 LIFE IN STONE DISCLAIMER 2 Information provided in this press release may contain statements relating to current expectations, estimates, forecasts and projections about future events that are "forward looking statements" as defined in the Private Securities Litigation Reform Act of 1995. These forward looking statements relate to the Company's plans, objectives and expectations for future operations, including estimations relating to the impact of the CO ...
Caesarstone(CSTE) - 2021 Q4 - Earnings Call Transcript
2022-02-09 17:53
Caesarstone Ltd. (NASDAQ:CSTE) Q4 2021 Earnings Conference Call February 9, 2022 8:30 AM ET Company Participants Yuval Dagim – Chief Executive Officer Brad Cray – Investor Relations Nahum Trost – Chief Financial Officer Conference Call Participants Thomas Henry – The Benchmark Company Stanley Elliott – Stifel Operator Greetings and welcome to Caesarstone Limited Fourth Quarter 2021 Earnings Conference Call. At this time, all participants are in a listen-only mode. A question-and-answer session will follow t ...
Caesarstone(CSTE) - 2021 Q3 - Earnings Call Transcript
2021-11-03 18:21
Caesarstone Ltd. (NASDAQ:CSTE) Q3 2021 Earnings Conference Call November 3, 2021 8:30 AM ET Company Participants Brad Cray - Investor Relations Yuval Dagim - Chief Executive Officer Nahum Trost - Chief Financial Officer Conference Call Participants Operator Greetings and welcome to the Caesarstone Third Quarter 2021 Earnings Conference Call. At this time, all participants are in listen-only mode. A brief question-and-answer session will follow the formal presentation. [Operator Instructions] As a reminder, ...
Caesarstone(CSTE) - 2021 Q3 - Quarterly Report
2021-11-02 16:00
© caesarstone® Exhibit 99.1 Caesarstone Reports Third Quarter 2021 Financial Results – Record Third Quarter Revenue of $163.3 Million, Up 31.8% Over Prior Year Quarter – – Net Income of $5.9 Million, or $0.17 Per Share – – Adjusted Net Income of $6.8 Million, or $0.20 Per Share – – Adjusted EBITDA of $17.7 Million – – Strong Cash Position(*) of $91.5 Million at Quarter End – – Declares Dividend of $0.10 per share – - Published Inaugural Global ESG Report in October – – Reiterates Outlook for 2021 Revenue an ...