Caesarstone Second Quarter 2024 Earnings: Misses Expectations

Caesarstone (NASDAQ:CSTE) Second Quarter 2024 Results

Key Financial Results

• Revenue: US$119.4m (down 17% from 2Q 2023).
• Net loss: US$9.18m (loss narrowed by 83% from 2Q 2023).
• US$0.27 loss per share (improved from US$1.52 loss in 2Q 2023).

All figures shown in the chart above are for the trailing 12 month (TTM) period

Caesarstone Revenues and Earnings Miss Expectations

Revenue missed analyst estimates by 4.3%. Earnings per share (EPS) also missed analyst estimates by 125%.

Looking ahead, revenue is expected to decline by 3.2% p.a. on average during the next 2 years, while revenues in the Building industry in the US are expected to grow by 5.3%.

Performance of the American Building industry.

The company's shares are down 22% from a week ago.

Balance Sheet Analysis

Just as investors must consider earnings, it is also important to take into account the strength of a company's balance sheet. See our latest analysis on Caesarstone's balance sheet health.

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