Welcome to our dedicated page for Caesarstone Ltd. news (Ticker: CSTE), a resource for investors and traders seeking the latest updates and insights on Caesarstone Ltd. stock.
Caesarstone Ltd. (CSTE) is a leading manufacturer of high-quality engineered quartz surfaces, widely utilized in both residential and commercial buildings. The company's products are extensively used as countertops, vanities, wall cladding, floors, and a variety of other interior applications. Renowned for their durability, non-porous nature, and resistance to scratches and stains, Caesarstone surfaces stand out as a preferred choice among homeowners and businesses alike, offering a competitive edge over granite, manufactured solid surfaces, and laminates.
Caesarstone's impressive product portfolio is categorized into four notable collections: Classico, Motivo, Concetto, and Supernatural. These collections, available in a myriad of colors, styles, designs, and textures, cater to diverse aesthetic preferences and functional requirements. The brand’s engineered quartz surfaces are currently available in over 50 countries, underscoring its global presence.
The company operates across several geographic segments, including the United States, Canada, Latin America, Australia, Asia, Israel, and EMEA (Europe, Middle East, Africa). This extensive reach ensures that Caesarstone remains at the forefront of innovation and market demand in various regions.
In addition to quartz surfaces, Caesarstone has expanded its product lineup to include porcelain slabs, further diversifying its offerings for kitchen countertops, vanity tops, wall panels, backsplashes, floor tiles, stairs, and other interior surfaces. These versatile products are tailored for both renovation and remodeling projects as well as new residential constructions.
Caesarstone's commitment to quality and innovation continues to drive its growth and reputation in the industry. Recent achievements and ongoing projects highlight the company's dedication to meeting evolving customer needs while maintaining the integrity and excellence of its brand.
Caesarstone Ltd. (NASDAQ: CSTE) will release its earnings for Q1 2023 on May 10, 2023, before the market opens. Following the results announcement, a webcast and conference call will take place at 8:30 a.m. ET, allowing investors to engage in a Q&A session. The live webcast can be accessed via the company's Investor Relations website. For those unable to attend, a telephonic replay of the call will be available from 12:30 p.m. ET on May 10 until 11:59 p.m. ET on May 17.
Caesarstone, established in 1987, is known for its high-quality engineered surfaces, particularly quartz countertops, and operates in over 50 countries.
Caesarstone Ltd. (NASDAQ: CSTE) announced the appointment of Yosef Shiran as CEO, effective March 16, 2023. Shiran previously led the company from 2009 to 2016 and will succeed Yuval Dagim, who will assist in the transition. Shiran expressed optimism about the company’s potential and its dedicated team, emphasizing the need to address current challenges. Chairman Ariel Halperin highlighted Shiran's familiarity with the company as a valuable asset during restructuring efforts aimed at restoring shareholder value. The company operates globally, specializing in premium surfaces for various applications.
Caesarstone Ltd. (CSTE) reported record revenue of $690.8 million for 2022, achieving a 7.3% year-over-year increase. However, fourth-quarter revenues declined 6.8% to $159.4 million. The company faced a net loss of $57.1 million, or $1.66 per share, predominantly due to a $71.3 million non-cash impairment charge. Adjusted net income for the year was $10.6 million, with an adjusted diluted EPS of $0.31. The outlook for 2023 anticipates stable revenues, but a focus on cost optimization and pricing strategies will be crucial to offset expected declines in volume and currency fluctuations.
Caesarstone Ltd. (NASDAQ: CSTE) will announce its earnings results for Q4 and the full year ending December 31, 2022, on March 1, 2023, prior to market open. A conference call will follow at 8:30 a.m. ET, with a Q&A session for investors. The live webcast can be accessed on the Company’s Investor Relations website. A telephonic replay will be available from 12:30 p.m. ET on the same day until March 8, 2023. Caesarstone specializes in engineered surfaces, offering over 100 colors of countertops for various applications. Established in 1987, the company operates in over 50 countries, focusing on innovative technology and sustainable products.
Caesarstone Ltd. (CSTE) reported record third quarter revenue of $180.7 million, a 10.6% increase year-over-year, with a 14.9% rise on a constant currency basis. However, the company incurred a net loss of $0.5 million, or ($0.02) per share. Adjusted EBITDA fell to $13.4 million, marking a 7.4% margin, down from 10.8% in the previous year. The company revised its 2022 revenue outlook to $690-$700 million, primarily due to adverse foreign exchange impacts and moderated volume expectations in a challenging economic environment.
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