Caesarstone (CSTE) Misses Q2 EPS by 2c, Misses on Revenue; Offers Guidance

Caesarstone (NASDAQ: CSTE) reported Q2 EPS of ($0.14), $0.02 worse than the analyst estimate of ($0.12). Revenue for the quarter came in at $119.4 million versus the consensus estimate of $124.82 million.

The Company reaffirms its expectation to deliver positive operating cash flow for the full year 2024, primarily weighted towards the first half of the year. The Company now expects full year adjusted EBITDA to be a loss in the mid-single-digit million-dollar range, mainly due to increased shipping and material costs in the second half of 2024. The Company also reiterates its expectation 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.

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

You May Also Be Interested In

• Trump on Iran: we're trying to work out a deal that's fair
• Johnson Controls (JCI) 4K contracts of August 120 puts trade, share price down 4%
• MGE Energy VP of energy operations to retire at year-end