Caesarstone Ltd

NASDAQ:CSTEUnited States

Nov 13, 2024

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• -- Earnings Flash (CSTE) CAESARSTONE Reports Q3 Revenue $107.6M, from 7:01AM ET on Wednesday Nov 13, 2024 by MT Newswires

  7:01AM ET on Wednesday Nov 13, 2024 by MT Newswires
  Companies Mentioned: CSTE
  07:01 AM EST, 11/13/2024 (MT Newswires) -- ...

• -- Earnings Flash (CSTE) CAESARSTONE Reports Q3 Loss $-0.24, from 7:00AM ET on Wednesday Nov 13, 2024 by MT Newswires

  7:00AM ET on Wednesday Nov 13, 2024 by MT Newswires
  Companies Mentioned: CSTE
  07:00 AM EST, 11/13/2024 (MT Newswires) -- ...

• *DJ Caesarstone 3Q Loss/Shr 12c >CSTE, from 7:00AM ET on Wednesday Nov 13, 2024 by Dow Jones

  7:00AM ET on Wednesday Nov 13, 2024 by Dow Jones
  Companies Mentioned: CSTE

• Caesarstone Reports Third Quarter 2024 Financial Results, from 7:00AM ET on Wednesday Nov 13, 2024 by Dow Jones

  7:00AM ET on Wednesday Nov 13, 2024 by Dow Jones
  Companies Mentioned: CSTE
  ------- ------- -------- -------- Adjusted EBITDA (Non-GAAP) $(4,106) $ 1,872 $ (3,555) $(10,808) ------- ------- -------- -------- (a) Consists primarily of legal settlements expenses and loss contingencies, net, related to product liability claims. (b) Share-based compensation includes expenses related to stock options and restricted stock units granted to employees and directors of the Company. (c) Including long-lived assets impairment and restructuring expenses related to plants closure. Q3'24 also includes capital gain related to sale of undeveloped land in the Richmond Hill plant. Caesarstone Ltd. and its subsidiaries -------------------------------------------- -------- --------- Three months ended Nine months ended September 30, September 30, ------------------ --------------------- U.S. dollars in thousands (except per share data) 2024 2023 2024 2023 ------------------ -------- -------- --------- ---------- (Unaudited) (Unaudited) ------------------ --------------------- Reconciliation of net loss attributable to controlling interest to adjusted net loss attributable to controlling interest: Net loss attributable to controlling interest $(4,222) $ (887) $(18,488) $ (57,135) Legal settlements and loss contingencies, net (a) 2,077 (1,259) 5,613 (2,346) Contingent consideration adjustment related to acquisition 28 75 (53) 240 Amortization of assets related to acquisitions, net of tax 534 582 1,603 1,608 Share-based compensation expense (b) 525 61 1,610 556 Acquisition and integration related expenses - - - - Non cash revaluation of lease liabilities (c) 344 (2,092) (3,016) (5,094) Restructuring expenses (income) and Impairment related to long lived assets (d) (6,911) (3,349) (6,821) 20,224.00 Residual operating expenses (income) related to closed plants after closing (36) 1,011 1,606 2,795 Other non recurring items (152) (152) 41 (152) ------- ------- -------- --------- Total adjustments (3,591) (5,123) 583 17,831 Less tax on non-tax adjustments (e) 587 760 (88) (2,614) ------- ------- -------- --------- Total adjustments after tax (4,178) (5,883) 671 20,445 ======= ======= ======== ========= Adjusted net loss attributable to controlling interest (Non-GAAP) $(8,400) $(6,770) $(17,817) $ (36,690) ======= ======= ======== ========= Adjusted loss per share (f) $ (0.24) $ (0.20) $ (0.51) $ (1.06) ======= ======= ======== ========= (a) Consists primarily of legal settlements expenses and loss contingencies, net, related to product liability claims. (b) Share-based compensation includes expenses related to stock options and restricted stock units granted to employees and directors of the Company. (c) Exchange rate differences deriving from revaluation of lease contracts in accordance with FASB ASC 842. (d) Including long-lived assets impairment and restructuring expenses related to plants closure. Q3'24 also includes capital gain related to sale of undeveloped land in the Richmond Hill plant. (e) Tax adjustments for the three and nine months ended September 30, 2024 and 2023, based on the effective tax rates. (f) In calculating adjusted (Non-GAAP) loss per share, the diluted weighted average number of shares outstanding excludes the effects of share-based compensation expense in accordance with FASB ASC 718. Caesarstone Ltd. and its subsidiaries Geographic breakdown of revenues by region --------------------------------- --------- ------- Three months ended Nine months ended Three months ended Nine months ended September 30, September 30, September 30, September 30, ------------------ -------------------------- -------------------------- -------------------------- U.S. dollars in thousands 2024 2023 2024 2023 ------------ -------- -------- ------------- ----------- YoY % change YoY % change (Unaudited) (Unaudited) (Audited) YoY % change CCB YoY % change CCB ------------------ ------------- ----------- ------------ ------------ ------------ ------------ USA $ 52,388 $ 65,880 $ 173,206 $ 211,361 -20.5% -20.5% -18.1% -18.1% Canada 14,207 18,956 47,643 57,712 -25.1% -23.8% -17.4% -16.6% Latin America 239 1,650 1,148 2,468 -85.5% -85.5% -53.5% -53.5% ------- ------- --------- ------- ------------ ------------ ------------ ------------ America's 66,834 86,486 221,997 271,541 -22.7% -22.9% -18.2% -18.1% ======= ======= ========= ======= ============ ============ ============ ============ Australia 17,443 27,326 58,518 79,539 -36.2% -37.7% -26.4% -25.7% Asia 6,435 6,747 16,260 20,069 -4.6% 6.1% -19.0% -19.2% ------- ------- --------- ------- ------------ ------------ ------------ ------------ APAC 23,878 34,073 74,778 99,608 -29.9% -29.0% -24.9% -24.4% ======= ======= ========= ======= ============ ============ ============ ============ EMEA 11,627 15,185 35,263 45,395 -23.4% -26.0% -22.3% -23.3% ======= ======= ========= ======= ============ ============ ============ ============ Israel 5,295 6,650 13,320 20,162 -20.4% -24.5% -33.9% -33.1% ======= ======= ========= ======= ============ ============ ============ ============ Total Revenues $107,634 $142,394 $ 345,358 $ 436,706 -24.4% -24.8% -20.9% -20.7% ======= ======= ========= ======= ============ ============ ============ ============