News & Events zu Caesarstone Ltd (CSTE)CSTECaesarstone Ltd

Caesarstone Reports Q1 Revenue of $88.7M

Reports Q1 revenue $88.7M vs $99.6M last year. Yos Shiran, Caesarstone's Chief Executive Officer commented, "First quarter results reflect meaningful structural progress in our ongoing transformation. Gross margin expanded driven by the increasing contribution of our transition to a third-party manufacturing model despite continued revenue pressure. While macroeconomic headwinds and competitive dynamics continue to weigh on revenues, particularly in North America, we remain focused on the factors within our control, including strengthening partnerships within our global production network, and advancing the strategic initiatives under our restructuring plan that support our path to profitability. Based on our current operating plan and assuming no material deterioration in global economic or geopolitical conditions, we remain on track to achieve positive Adjusted EBITDA in the third quarter of 2026 and are committed to building a stronger, more resilient, and more profitable Caesarstone."

Caesarstone Shuts Down Israeli Facility and Cuts 200 Jobs

The company approved additional steps under its strategic restructuring plan across its operations, commencing with the closure of the manufacturing facility in Bar-Lev, Israel, and a reduction in headcount of approximately 200 employees mostly associated with the facility. This strategic action is intended to increase competitiveness, improve the Company's profitability and cash flows, enhance service and drive additional cost efficiencies through an optimized manufacturing footprint. In connection with the facility closure, the company expects to incur non-cash impairment expenses of $40M to $45M and estimated cash costs in the amount of $4M to $8M related to operations, beginning in the fourth quarter of 2025 and continuing through the next 12 months. These estimated closure costs do not include a potential non-cash write-down on the long term non-cancellable facility lease agreement, valid through 2032, which the company aims to sublease in whole or in part through the remaining term of the lease. Once implemented, the company expects to realize annualized cash savings of approximately $22M, with the potential for additional cash savings if subleases are executed on the non-cancellable long-term facility lease agreement.

Caesarstone announces Q3 adjusted earnings per share of 40 cents, compared to 24 cents in the previous year.

Reports Q3 revenue $102.11M vs. $107.63M last year. Yos Shiran, Caesarstone's CEO commented, "We are rapidly advancing the transformation of our business model to focus on innovation, product development, and marketing. We are investing in strengthening the Caesarstone brand, expanding our porcelain offering, and enhancing our R&D capabilities. As part of this strategic transformation, we are further optimizing our global manufacturing footprint with the announced closing of our Bar-Lev facility and the transfer of production to our global partners. These initiatives are expected to generate annual savings of approximately $22 million and bring total savings since 2023 to over $85 million, representing necessary steps to strengthen our competitive position and support a return to positive adjusted EBITDA in the third quarter of next year."