Caesarstone (NASDAQ: CSTE) reported Q4 EPS of $0.20, $0.01 better than the analyst estimate of $0.19. Revenue for the quarter came in at $142.9 million versus the consensus estimate of $141.16 million.

• Revenues of $142.9 million for the fourth quarter and $575.9 million for the full year
• Net income of $1.5 million, $0.04 per share, for the fourth quarter and $24.6 million, $0.72 per share, for the full year
• Adjusted Net income of $7.0 million, $0.20 per share, for the fourth quarter and $36.1 million, $1.05 per share, for the full year
• Adjusted EBITDA of $17.8 million for the fourth quarter and $75.2 million for the full year
• Appointed president of newly created North America region, combining the Company’s U.S. and Canadian operations subsequent to year-end
• Provides full year 2019 outlook

Yuval Dagim, Chief Executive Officer, commented, “In the six months since I assumed the role of CEO, we have started to drive changes in the Company to better capitalize on market opportunities, including the strategic realignment of our North American operations. In 2019, we will continue to focus on enhancing our global platform to more effectively leverage the Caesarstone brand. This includes making targeted investments in talent and technology throughout the organization to more efficiently manage our go-to-market, supply chain, and production processes. We have also started to reinvigorate our efforts to strengthen global awareness of our premium product offerings. We believe our evolving strategic initiatives and our team’s commitment to improving results position us to generate value in the coming years.”

Ophir Yakovian, Chief Financial Officer, added, “We are encouraged that revenue and Adjusted EBITDA met our expectation for the fourth quarter. These results were supported by mid-single-digit growth in our core business in the U.S. despite the second-half 2018 surge in pre-buy activity ahead of recently implemented tariffs on U.S. imports of quartz countertops from China. We remain optimistic regarding the long-term benefit of these tariffs as the industry works through temporarily elevated U.S. inventory levels, and we are carefully monitoring the market impact of tariffs on supply outside the U.S. For 2019, our outlook reflects the impact of global market conditions and a more competitive environment in many regions, particularly in the first quarter. We are confident that the steps we are taking to improve our business will contribute toward our efforts to accomplish our objectives in 2019.”

GUIDANCE:

Caesarstone sees FY2019 revenue of $580-600 million, versus the consensus of $574.16 million.

For earnings history and earnings-related data on Caesarstone (CSTE) click here.