Caesarstone(US:CSTE)2020-08-10 16:51Company Overview - Caesarstone is a leading designer and producer of high-end engineered quartz surfaces[4] - The company was founded in 1987 and is headquartered in Israel[4] - In 2019, Caesarstone had sales of $546 million and an adjusted EBITDA of $69 million[4] - The company has a global market share of approximately 9%[12] Financial Performance - In Q2 2020, revenue was $99 million, a decrease of 29.8% compared to Q2 2019 ($141.1 million)[30] - Adjusted gross profit in Q2 2020 was $20.3 million, with a margin of 20.5%, compared to $38.6 million and 27.3% in Q2 2019[30] - Adjusted EBITDA in Q2 2020 was $6.5 million, with a margin of 6.6%, compared to $19.2 million and 13.6% in Q2 2019[30] - Adjusted net income in Q2 2020 was a loss of $3.5 million or -$0.10 per share, compared to a profit of $8 million or $0.23 per share in Q2 2019[30] Market Landscape - The global countertop market is valued at $105 billion[15] - Engineered quartz held an 18% share of the global countertop market in 2018[15] - In the U S market, Engineered Quartz accounted for 46% of the countertop demand by volume[16]