Caesarstone (CSTE) Misses Q3 EPS by 7c ; Provides Outlook

Caesarstone (NASDAQ: CSTE) reported Q3 EPS of ($0.24), $0.07 worse than the analyst estimate of ($0.17). Revenue for the quarter came in at $107.6 million versus the consensus estimate of $119.6 million.

Outlook:-

The Company reaffirms its expectation to deliver positive operating cash flow for the full year 2024, with cash generated in the first nine months more than offsetting a modest decline in the fourth quarter. The Company reiterates its expectation to realize restructuring-related cost savings of approximately $20.0 million in full year 2024 and $35.0 million thereafter compared to full year 2023. Given persistent macroeconomic pressures across the Company’s global footprint and increased shipping and material costs in the second half of 2024, Caesarstone now expects its full year Adjusted EBITDA loss to be in the range of $10 to $11 million.

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

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