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

While earnings are important, another area to consider is the balance sheet. See our latest analysis on Caesarstone's balance sheet health.

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.