Caesarstone reports Q4 EPS (28c) consensus (17c)

Reports Q4 revenue $128.5M, consensus $125.07M…Yos Shiran, Caesarstone’s Chief Executive Officer commented, “In 2023, we implemented a new strategic plan and initiated significant restructuring actions which allowed us to achieve our primary financial objective for 2023, to generate positive cash flow from operations and end the year with a solid net cash position. We achieved that despite challenging macro-economic, regional geo-political and regulatory dynamics in key markets. We continue to position Caesarstone’s production footprint advantageously around the world and our teams have executed well to generate meaningful cost savings from our global restructuring actions. We are investing a portion of those savings into our brand, improving sales and marketing and R&D activities, as well as expanding our premium porcelain products to reignite profitable growth across our business to drive value to our customers and shareholders.”