CSTE

This article first appeared on GuruFocus. Release Date: August 05, 2026 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Gross margin improved significantly to 24% in Q2 2026, up 440 basis points year-over-year, driven by cost savings from the closure of the Bar-Lev facility and the transition to a global production partner network. Adjusted EBITDA loss narrowed sharply to $1 million from $6.4 million a year ago and $7.5 million in Q1 2026, reflecting the success of restructuring actions. Australia delivered its fourth consecutive quarter of year-over-year growth, with revenue up 10.1% on a constant currency basis, supported by the zero-silica Icon collection. The company strengthened its big-box channel in North America, with revenue growing approximately 3% year-over-year, driven by strong growth with IKEA. Caesarstone Ltd (NASDAQ:CSTE) maintained a strong balance sheet with a net cash position of $51.8 million and repaid its credit facility, leaving no outstanding debt to financial institutions. The company received a favorable defense jury verdict in a Colorado silica claim and resolved four claims in California, demonstrating progress in legal defense. Restructuring actions are expected to generate annualized savings of more than $100 million by 2027, with the Bar-Lev closure alone contributing $22 million in annualized cash savings. Global revenues declined 7.7% year-over-year on a constant currency basis, reflecting competitive pressures and soft market conditions, particularly in North America. U.S. revenue decreased 14.1% year-over-year to $42.7 million, driven by lower volumes in the core business and soft conditions in the commercial channel. Canada revenue fell 17.5% on a constant currency basis, due to fewer housing completions and slow market conditions. The new U.S. tariff rate quota on quartz surface products, effective August 15, 2026, imposes additional tariffs of 25% (in-quota) and 50% (above-quota), which could negatively impact costs and delay the path to positive adjusted EBITDA. Operating expenses increased to $33.4 million, or 34.6% of revenue, primarily due to higher legal settlements and loss contingencies, which remain a significant overhang. The company faces ongoing legal proceedings with approximately 800 silica-related claims, and has recorded a provision of $51.2 million, with insurance recoveries still uncertain. Adjusted EBITDA is still negative, and the company is reassessing the timing of achieving positive adjusted EBITDA due to the new tariffs, indicating continued profitability challenges. Warning! GuruFocus has detected 8 Warning Signs with CSTE. Is CSTE fairly valued? Test your thesis with our free DCF calculator. Q: What is the company's current assessment of the newly announced U.S. tariff rate quota on quartz surface products, and how will it impact the timeline for achieving positive adjusted EBITDA?A: Nahum Trost (CFO) stated that the U.S. Administration issued a final determination on July 31, imposing a four-year tariff rate quota effective August 15. During the first year, imports within an annual quota of approximately 13 million square meters will face an additional 25% tariff, while imports above the quota will face an additional 50% tariff. The company is evaluating the impact on its global production and supply network and intends to implement sourcing and pricing actions to mitigate effects. As a result, they are reassessing the timing of achieving positive adjusted EBITDA, which was previously expected in the third quarter. Q: Can you elaborate on the significant gross margin improvement and the key drivers behind it?A: Yosef Shiran (CEO) and Nahum Trost (CFO) explained that gross margin improved to 24% in Q2 2026, up 440 basis points year-over-year from 19.6%. This improvement primarily reflects the realization of cost savings from the closure of the Bar-Lev facility and the transition to a global network of production partners. The quarter also benefited from a $2 million refund on previously paid U.S. IEEPA tariffs. Adjusted gross margin reached 26.5% compared to 19.7% in the prior year quarter. Q: What is the current status of the legal proceedings related to silica dust exposure claims, and what is the financial provision?A: Nahum Trost (CFO) reported that the company is subject to approximately 800 individual claims alleging injuries related to respirable crystalline silica dust, including about 600 in the U.S. As of June 30, 2026, a provision of $51.2 million was recorded as the best estimate of probable losses. Additionally, $12 million of insurance receivables were recorded globally. During Q2, the company resolved four claims in California and received a favorable defense jury verdict in a Colorado claim with no liability assigned. Prior verdicts remain under appeal. Q: How is the company's performance in Australia, and what is driving the growth there?A: Yosef Shiran (CEO) highlighted that Australia delivered its fourth consecutive quarter of year-over-year growth, with revenue of $20.3 million in Q2 2026, up approximately 10.1% on a constant currency basis. This growth is supported by the company's zero-silica Icon collection, which has helped regain its leading position in that market following the introduction of these products. Q: What were the key drivers of the revenue decline in North America, and how is the company addressing it?A: Nahum Trost (CFO) noted that U.S. revenue decreased 14.1% to $42.7 million, driven by lower volumes in the core business, reflecting soft conditions in the commercial channel and business through stone suppliers. However, the big-box business grew approximately 3% year-over-year, with strong growth from IKEA. Canada revenue decreased 17.5% on a constant currency basis due to fewer housing completions. The company is strengthening relationships with key customers and fabricators and expanding its presence in the big-box channel to address these challenges. Q: Can you provide details on the expected annualized savings from the restructuring program and the associated cash costs?A: Nahum Trost (CFO) stated that once fully implemented, the Bar-Lev closure is expected to generate annualized cash savings of approximately $22 million, bringing total expected annualized savings to more than $100 million by 2027 compared to full year 2023. Cash costs associated with the restructuring program in Q2 2026 were $1.2 million, with an additional $3 million to $4 million expected during the remainder of the year. Q: What is the company's current net cash position and debt status?A: Nahum Trost (CFO) reported that as of June 30, 2026, the company had a net cash position of $51.8 million, compared to $50.4 million as of March 31, 2026. During the quarter, the company repaid its Leumi credit facility, leaving it with no outstanding debt to financial institutions. Q: How did the company's adjusted EBITDA perform in the second quarter, and what are the expectations going forward?A: Nahum Trost (CFO) reported that adjusted EBITDA loss narrowed significantly to $1 million in Q2 2026, compared to a loss of $6.4 million in the prior year quarter and $7.5 million in Q1 2026. The improvement primarily reflects higher gross margin and growing contributions from cost savings initiatives. The company entered Q3 on track to achieve positive adjusted EBITDA, but is now reassessing the timing due to the new U.S. tariffs on quartz products. Q: What is the breakdown of revenue performance across the company's key regions?A: Nahum Trost (CFO) provided a regional breakdown: U.S. revenue was $42.7 million, down 14.1%; Canada decreased 17.5% on a constant currency basis; Australia increased 10.1% to $20.3 million; EMEA sales were down 9.8% on a constant currency basis due to timing of orders; and Israel revenue increased 32.4% on a constant currency basis, benefiting from a favorable comparison to the prior year period impacted by regional conflict. Q: How are the U.S. tariffs affecting the company's cost structure, and what mitigation strategies are in place?A: Nahum Trost (CFO) explained that growth-based import tariffs remain in effect, with average tariffs on products imported into the U.S. at approximately 15%. Approximately 44% of Q2 revenues were generated in the U.S., served by the global production network. The company is working with production partners to optimize the supply chain, and pricing actions in the U.S. market are helping to partially offset higher costs of goods. The company also received a $2 million refund on previously paid IEEPA tariffs during the quarter. For the complete transcript of the earnings call, please refer to the full earnings call transcript.

Interested in Caesarstone Ltd.? Here are five stocks we like better. Profitability improved despite weaker sales: Second-quarter revenue fell 4.5% year over year to $96.6 million, but gross margin rose to 24% and the adjusted EBITDA loss narrowed to $1 million from $6.4 million. Savings from the Bar-Lev facility closure and production-partner network were key drivers. Regional performance was mixed: U.S. revenue declined 14.1%, while Australia grew 10.1% on a constant-currency basis for its fourth consecutive quarter of growth. The company also ended the quarter with $51.8 million in net cash and no outstanding institutional debt. New U.S. quartz tariffs cloud the outlook: Tariffs taking effect August 15 will add 25% on imports within a quota and 50% above it, prompting Caesarstone to reassess the timing of its positive adjusted EBITDA target. The company is evaluating sourcing and pricing measures to offset the impact. Caesarstone (NASDAQ:CSTE) reported improved profitability metrics in the second quarter of 2026 despite lower revenue, as cost reductions tied to its manufacturing restructuring helped expand margins and narrow its adjusted EBITDA loss. Chief Executive Officer Yos Shiran said the company’s gross margin reached 24% during the quarter, improving both from a year earlier and sequentially, even as market conditions remained soft. Global revenue totaled $96.6 million, down from $101.1 million in the prior-year quarter and down about 7.7% on a constant-currency basis. → SpaceX’s First Earnings Report Could Decide Whether Shorts or Bulls Have Control “The second quarter marked another step forward in our efforts to restore profitability,” Shiran said. He attributed the improvement to Caesarstone’s optimized manufacturing footprint and global production-partner network, which he said have created a leaner and more flexible operating model. Gross margin rose 440 basis points from 19.6% in the second quarter of 2025 and 170 basis points from 22.3% in the first quarter of 2026. Adjusted gross margin was 26.5%, compared with 19.7% a year earlier. → 3 Drone Stocks That Should Soar After the Summer Slump Chief Financial Officer Nahum Trost said the margin improvement primarily reflected savings from the closure of the Bar-Lev facility and the transition of quartz production to the company’s global production-partner network. Results also benefited from a roughly $2 million refund of previously paid U.S. IEEPA tariffs. Adjusted EBITDA was a loss of $1 million, compared with a loss of $6.4 million in the prior-year quarter and a $7.5 million loss in the first quarter. Adjusted diluted net loss per share was $0.10 on 34.6 million shares, versus an adjusted diluted net loss per share of $0.33 on 34.7 million shares a year earlier. → The Bitcoin Comeback May Already Be Underway—2 ETFs for Exposure Operating expenses were $33.4 million, or 34.6% of revenue, compared with $32.5 million, or 32.1% of revenue, in the prior-year period. Excluding legal settlements and loss contingencies as well as impairment and restructuring expenses, operating expenses improved to 29.6% of revenue from 30.1% a year earlier, Trost said. North American demand remained a pressure point. U.S. revenue declined 14.1% to about $42.7 million from $49.6 million a year earlier, driven by lower volumes in the company’s core business, including weakness in commercial development and sales through stone suppliers. Caesarstone’s big-box business grew about 3% year over year, led by growth with IKEA, according to Trost. Shiran said the company is continuing to build relationships with customers and fabricators and expand its big-box presence. Canadian revenue fell 17.5% on a constant-currency basis, which the company attributed to fewer housing completions and slow market conditions. EMEA sales declined 9.8% on a constant-currency basis, primarily due to the timing of customer shipments. Australia was a notable area of growth. Revenue in the region increased to $20.3 million from $16.6 million, up approximately 10.1% on a constant-currency basis. The quarter marked Caesarstone’s fourth consecutive period of year-over-year growth in Australia, supported by its silica-free ICON products and a recovery in market position. Revenue in Israel rose 32.4% on a constant-currency basis, mainly due to comparison with the prior-year period, which had been affected by regional conflict. Caesarstone said its restructuring actions are expected to produce increasing savings as implementation progresses. The closure of the Bar-Lev facility is expected to generate about $22 million of annualized cash savings once fully implemented, contributing to total anticipated annualized savings of more than $100 million by 2027 compared with full-year 2023. Cash costs associated with the restructuring program were $1.2 million in the second quarter. The company expects another $3 million to $4 million of cash costs during the remainder of 2026. As of June 30, Caesarstone had net cash of $51.8 million, up from $50.4 million at the end of the first quarter. During the quarter, it repaid its Leumi credit facility and had no outstanding debt to financial institutions. The company said broad U.S. import tariffs remain in place, with the average tariff on products it imports into the U.S. estimated at approximately 15%. About 44% of second-quarter revenue was generated in the United States. In addition, the U.S. administration issued a final determination on July 31 imposing a four-year tariff-rate quota on quartz surface-product imports effective Aug. 15. In the first year, imports within an annual quota of roughly 13 million square meters, assessed quarterly, will face an additional 25% tariff. Imports above that quota will face an additional 50% tariff. Over the following three years, the in-quota tariff is set to decline to 19%, while the annual quota rises to approximately 15.7 million square meters. Caesarstone said it is evaluating the impact on its production and supply network and plans to use sourcing and pricing actions to mitigate the effects. While management said it entered the third quarter on track to achieve its previously stated goal of positive adjusted EBITDA, Trost said the new quartz tariffs have prompted the company to reassess the timing of that target. Caesarstone said it faces claims from approximately 800 individuals alleging injuries related to respirable crystalline silica dust exposure, including roughly 600 claims in the United States. As of June 30, the company had recorded a provision of $51.2 million for probable and reasonably estimable losses and $12 million in global insurance receivables, while coverage disputes remain ongoing. During the quarter, Caesarstone resolved four California claims, received a favorable defense jury verdict in a Colorado case that assigned no liability to the company, and was dismissed from several cases in various states. The company said prior verdicts remain under appeal and that it will continue to evaluate reserves and potential insurance recoveries as matters develop. Caesarstone Ltd. is an Israel-based manufacturer specializing in engineered quartz surfaces for residential and commercial applications. The company's core business centers on the design, production and marketing of quartz slabs and tiles used for kitchen countertops, bathroom vanities, flooring and wall cladding. Caesarstone's products combine natural quartz with resins and pigments to deliver durable, low-maintenance surfaces known for their aesthetic versatility and resistance to scratches, stains and heat. Founded in 1987 and headquartered at Kibbutz Sdot Yam, Israel, Caesarstone has grown into a global brand with distribution in over 50 countries. This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected]. The article "Caesarstone Q2 Earnings Call Highlights" was originally published by MarketBeat. View MarketBeat's top stocks for August 2026.

MP MENASHE, Israel, July 22, 2026--(BUSINESS WIRE)--Caesarstone Ltd. (NASDAQ: CSTE), a leading developer and manufacturer of high-quality engineered surfaces, today announced that it will release its earnings results for the second quarter ended June 30, 2026 on Wednesday, August 5, 2026 before the market opens. The Company will host a webcast and conference call on the same day at 8:30 a.m. ET to discuss the results. The live webcast can be accessed through the Investor Relations section of the Company’s website at ir.caesarstone.com. For those unable to access the webcast, the conference call will be accessible domestically or internationally, by dialing 1-833-816-1463 and 1-412-542-4167, respectively. The toll-free Israeli number is +972 3-374-1008. Upon dialing in, please request to join the Caesarstone Second Quarter 2026 Earnings Conference Call. To listen to a telephonic replay of the conference call, dial toll-free 1-844-512-2921 or +1-412-317-6671 (international) and enter pass code 10210513. The replay will be available beginning at 12:30 p.m. ET on Wednesday, August 5, 2026 and will last through 11:59 p.m. ET on Wednesday, August 12, 2026. About CaesarstoneCaesarstone is a global leader of premium surfaces, specializing in countertops that create dynamic spaces of inspiration in the heart of the home. Established in 1987, its multi-material portfolio of over 100 colors combines the company’s innovative technology with its powerful design passion. Spearheading high-quality, sustainable surfaces, Caesarstone delivers functional resilience with timeless beauty, for a vast range of applications, including kitchen countertops, bathroom vanities, and more, for indoor and outdoor spaces. Since it pioneered quartz countertops over thirty years ago, the brand has expanded into porcelain and natural stone and is on the ground in more than 50 countries worldwide while enhancing customer experience through the expansion of groundbreaking digital platforms & services. More information on Caesarstone: caesarstoneus.com, Facebook, Twitter, YouTube, Pinterest, and Instagram Forward-Looking StatementsInformation provided in this press release may contain statements relating to current expectations, estimates, forecasts and projections about future events that are "forward-looking statements" within the meaning of the "safe harbor" provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as "goals," "intend," "seek," "anticipate," "believe," "could," "continue," "expect," "estimate," "may," "plan," "outlook," "future" and "project" and other similar expressions that predict, project or indicate future events or trends or that are not statements of historical matters. Such forward-looking statements include statements regarding the Company’s goals and plans, intentions, expectations, assumptions, goals and beliefs regarding the Company’s business. Actual results may differ materially from those projections and estimates due to various risks and uncertainties, both known or unknown. These factors include, but are not limited to: the effects of the global and regional economy and geo-politics on the Company’s business and operations including the length, duration and impact of the war in Israel, the Houthi’s disruption to the movement of goods in the Red Sea and trade disruptions such as Turkey’s decision not to trade with Israel; the outcome of silicosis and other bodily injury claims, and the availability of relevant insurance; regulatory changes and requirements relating to the manufacturing and fabrication of our products; the outcome of our restructuring efforts, of the closure of the Sdot Yam and Richmond Hill Facilities, the estimated closure costs and the estimated potential savings relating to said closures, the ability to sell or sublease all or part of these facilities; our ability to effectively collaborate with production business partners; our R&D and product introduction efforts, managing constraints in the global supply chain and effectively procuring raw materials and goods as well as fluctuations in their price; our ability to mitigate the recently imposed U.S. customs tariffs; our ability to protect our brand, technology and intellectual property, as well as our freedom to operate; competitive pressures; disruptions to our information technology systems, fluctuations in currency exchange rates against the U.S. dollar; our ability to successfully integrate our acquisitions; our ability to meet ESG goals and targets; and other risks and uncertainties discussed under the sections "Risk Factors" and "Special Note Regarding Forward-Looking Statements and Risk Factor Summary" in our most recent annual report on Form 20-F filed with the Securities and Exchange Commission (the "SEC") on March 4, 2026, and in other documents filed by Caesarstone with the SEC, which are available free of charge at www.sec.gov. These forward-looking statements are made only as of the date hereof, and the Company undertakes no obligation to update or revise the forward-looking statements, whether as a result of new information, future events or otherwise. View source version on businesswire.com: https://www.businesswire.com/news/home/20260722514519/en/ Contacts Investor Relations: ICR, Inc. - Rodny [email protected] +1 (646) 200-8870

This article first appeared on GuruFocus. Release Date: May 13, 2026 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Gross margin expanded by 100 basis points despite lower revenue, indicating successful restructuring efforts. Transition to a third-party manufacturing model is expected to generate annualized cash savings of approximately $22 million by 2027. Australia showed strong performance with solid revenue growth, driven by the introduction of zero silica ICON products. The restructuring plan has reached a significant milestone with the transition of quartz production to a global manufacturing partner network. Caesarstone Ltd (NASDAQ:CSTE) maintains a net cash position of $50.4 million, providing financial flexibility. Global revenue declined by approximately 14.9% year-over-year on a constant currency basis, primarily due to softness in global demand. North American market faced competitive pressures, leading to a decline in revenue. Geopolitical volatility in the Middle East has increased product costs and sea freights, expected to impact results in the second half of 2026. Operating expenses increased as a percentage of revenue, reflecting lower revenues. The company faces ongoing legal challenges with 711 lawsuits related to silica-related injuries, resulting in a $48.8 million provision. Warning! GuruFocus has detected 5 Warning Signs with CSTE. Is CSTE fairly valued? Test your thesis with our free DCF calculator. Q: Can you elaborate on the impact of the restructuring actions on your financial performance? A: Yosef Shiran, CEO: Our restructuring actions have led to a 100 basis point improvement in gross margin despite lower revenue. The transition to a third-party manufacturing model and optimized production footprint are key factors. We expect these actions to generate annualized cash savings of approximately $22 million by 2027, with total savings since 2023 exceeding $100 million. Q: How is the geopolitical situation in the Middle East affecting your operations? A: Yosef Shiran, CEO: The regional conflict in the Middle East has impacted demand in Israel, and geopolitical volatility has increased product costs and sea freights. We anticipate these factors will mainly affect our results in the second half of 2026. Q: What are the main challenges you are facing in the North American market? A: Nahum Trost, CFO: In North America, we are experiencing macroeconomic headwinds and competitive pressures, leading to a 15% year-over-year revenue decline on a constant currency basis. We are taking targeted commercial actions to improve channel productivity and strengthen key customer relationships. Q: Can you provide more details on the performance in Australia? A: Nahum Trost, CFO: Australia has been a strong performing region, with revenue increasing by approximately 11.2% on a constant currency basis. This marks the third consecutive quarter of year-over-year growth, driven by the acceptance of our zero silica ICON products and our efforts to recapture market position. Q: What is the status of the ITC investigation and its potential impact? A: Nahum Trost, CFO: The ITC has recommended a four-year tariff rate quota structure with in-quota tariffs of 25% and out-of-quota tariffs of 40%. We are assessing potential outcomes and remain engaged in the process. We plan to mitigate impacts through supply chain optimization and pricing actions. For the complete transcript of the earnings call, please refer to the full earnings call transcript.

Our analysts just identified a stock with the potential to be the next Nvidia. Tell us how you invest and we'll show you why it's our #1 pick. Tap here. Management attributed a 100 basis point gross margin expansion to the successful transition of quartz production to a third-party manufacturing partner network. The closure of the Bar-Lev facility marks a significant milestone in shifting toward an asset-light model designed to improve the company's long-term earnings profile. Revenue declines were driven by persistent macroeconomic headwinds and competitive pressures, particularly within the North American market. Australia served as a strategic bright spot, with solid revenue growth fueled by the successful market introduction of zero-silica ICON products. Geopolitical volatility in the Middle East has begun to impact domestic demand in Israel while simultaneously increasing global product and sea freight costs. The company is focusing on improving execution at its Lioli facility in India to better align its porcelain category with long-term growth objectives. Management expects to achieve positive adjusted EBITDA in the third quarter of 2026, assuming no material deterioration in economic or geopolitical conditions. The company projects annualized cash savings of approximately $22 million by 2027 from recent restructuring, bringing total savings since 2023 to over $100 million. Anticipated increases in product costs and sea freights due to geopolitical volatility are expected to primarily impact financial results in the second half of 2026. Future profitability is dependent on seasonal revenue improvements, continued momentum in Australia, and the execution of subleases on noncancelable long-term agreements. Management is evaluating further fixed cost reductions, including the potential consolidation of distribution centers to reinforce the path to profitability. One stock. Nvidia-level potential. 30M+ investors trust Moby to find it first. Get the pick. Tap here. The company is navigating a complex U.S. tariff environment, with current average tariffs at 15% and a proposed ITC remedy that could implement a 25% to 40% quota-based structure. Management has implemented price increases in the U.S. to partially offset higher costs associated with broad-based import tariffs. A $48.8 million provision has been recorded for 711 active silica-related injury lawsuits, though a recent jury ruling in Colorado assigned no liability to the company. The 'Protection of Lawful Commerce in Stone Slab Products Act' has been introduced in the U.S. House, which could potentially limit manufacturer liability for third-party fabrication errors.

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is estimated to report quarterly loss at $0.41 per share on revenue of $15.07 million. • Leslies (NASDAQ:LESL) is expected to report quarterly loss at $4.55 per share on revenue of $162.10 million. • Omeros (NASDAQ:OMER) is likely to report quarterly loss at $0.30 per share on revenue of $10.05 million. • AmpliTech Group (NASDAQ:AMPG) is projected to report quarterly loss at $0.05 per share on revenue of $5.00 million. • Snail (NASDAQ:SNAL) is expected to report quarterly loss at $0.21 per share on revenue of $18.00 million. • Team (NYSE:TISI) is likely to report earnings for its first quarter. • Nine Energy Service (AMEX:NINE) is likely to report earnings for its first quarter. • Braskem (NYSE:BAK) is expected to report quarterly loss at $0.43 per share on revenue of $3.27 billion. • Prestige Consumer (NYSE:PBH) is estimated to report quarterly earnings at $1.40 per share on revenue of $293.81 million. • EquipmentShare.com (NASDAQ:EQPT) is projected to report quarterly loss at $0.23 per share on revenue of $893.42 million. • HeartBeam (NASDAQ:BEAT) is projected to report quarterly loss at $0.14 per share on revenue of $139 thousand. • Hawkins (NASDAQ:HWKN) is expected to report quarterly earnings at $0.70 per share on revenue of $255.28 million. • Copa Holdings (NYSE:CPA) is estimated to report quarterly earnings at $4.42 per share on revenue of $1.03 billion. • Allogene Therapeutics (NASDAQ:ALLO) is estimated to report quarterly loss at $0.18 per share on revenue of $1 thousand. • Motorsport Games (NASDAQ:MSGM) is likely to report earnings for its first quarter. • Milestone Scientific (AMEX:MLSS) is likely to report quarterly loss at $0.01 per share on revenue of $2.25 million. • Precigen (NASDAQ:PGEN) is likely to report quarterly loss at $0.04 per share on revenue of $20.87 million. • MultiSensor AI Hldgs (NASDAQ:MSAI) is likely to report quarterly loss at $1.60 per share on revenue of $1.70 million. • Talphera (NASDAQ:TLPH) is expected to report earnings for its first quarter. • Vox Royalty (NASDAQ:VOXR) is likely to report quarterly earnings at $0.03 per share on revenue of $7.80 million. • Worksport (NASDAQ:WKSP) is likely to report quarterly loss at $0.52 per share on revenue of $5.11 million. • Fluent (NASDAQ:FLNT) is estimated to report quarterly loss at $0.22 per share on revenue of $46.30 million. • USA Rare Earth (NASDAQ:USAR) is likely to report quarterly loss at $0.21 per share on revenue of $3.74 million. • Journey Medical (NASDAQ:DERM) is likely to report quarterly loss at $0.08 per share on revenue of $15.40 million. • Aytu BioPharma (NASDAQ:AYTU) is expected to report quarterly loss at $0.40 per share on revenue of $12.04 million. • Wrap Technologies (NASDAQ:WRAP) is likely to report earnings for its first quarter. • Cyngn (NASDAQ:CYN) is estimated to report quarterly loss at $0.60 per share on revenue of $400 thousand. • Insight Molecular (NASDAQ:IMDX) is estimated to report quarterly loss at $0.26 per share on revenue of $227 thousand. • Stubhub Holdings (NYSE:STUB) is expected to report quarterly earnings at $0.03 per share on revenue of $420.51 million. • Seer (NASDAQ:SEER) is expected to report quarterly loss at $0.27 per share on revenue of $3.60 million. • Longeveron (NASDAQ:LGVN) is expected to report quarterly loss at $0.19 per share on revenue of $333 thousand. • US Global Investors (NASDAQ:GROW) is projected to report earnings for its third quarter. • Precision Optics Corp (NASDAQ:POCI) is projected to report earnings for its third quarter. • Rapid Micro Biosystems (NASDAQ:RPID) is likely to report quarterly loss at $0.25 per share on revenue of $7.58 million. • Microvision (NASDAQ:MVIS) is expected to report quarterly loss at $0.03 per share on revenue of $3.24 million. • QT Imaging Holdings (NASDAQ:QTI) is expected to report quarterly loss at $0.14 per share on revenue of $6.45 million. • SeaStar Medical Holding (NASDAQ:ICU) is projected to report quarterly loss at $0.81 per share on revenue of $450 thousand. • Aquestive Therapeutics (NASDAQ:AQST) is likely to report quarterly loss at $0.13 per share on revenue of $10.88 million. • Companhia Siderurgica (NYSE:SID) is likely to report quarterly earnings at $0.23 per share on revenue of $2.06 billion. • Spero Therapeutics (NASDAQ:SPRO) is likely to report earnings for its first quarter. • Karooooo (NASDAQ:KARO) is estimated to report quarterly earnings at $0.51 per share on revenue of $87.09 million. • Lightwave Logic (NASDAQ:LWLG) is estimated to report earnings for its first quarter. • Doximity (NYSE:DOCS) is likely to report quarterly earnings at $0.26 per share on revenue of $143.86 million. • Stewart Information Servs (NYSE:STC) is expected to report quarterly loss at $0.04 per share on revenue of $52.08 million. • Sangoma Technologies (NASDAQ:SANG) is likely to report quarterly loss at $0.04 per share on revenue of $52.12 million. • Spruce Power Holding (NYSE:SPRU) is expected to report earnings for its first quarter. • Staar Surgical (NASDAQ:STAA) is expected to report quarterly earnings at $0.06 per share on revenue of $81.33 million. • CaliberCos (NASDAQ:CWD) is likely to report quarterly loss at $0.25 per share on revenue of $4.40 million. • Marchex (NASDAQ:MCHX) is estimated to report quarterly loss at $0.01 per share on revenue of $10.89 million. • Cisco Systems (NASDAQ:CSCO) is likely to report quarterly earnings at $1.00 per share on revenue of $15.56 billion. • Inovio Pharmaceuticals (NASDAQ:INO) is expected to report quarterly loss at $0.32 per share on revenue of $250 thousand. • National Healthcare (NASDAQ:NHP) is projected to report earnings for its first quarter. • Tamboran Resources (NYSE:TBN) is projected to report quarterly loss at $0.34 per share on revenue of $1.31 million. • Stantec (NYSE:STN) is projected to report quarterly earnings at $1.22 per share on revenue of $1.62 billion. • Jack In The Box (NASDAQ:JACK) is estimated to report quarterly earnings at $0.74 per share on revenue of $255.93 million. • Grocery Outlet Holding (NASDAQ:GO) is estimated to report quarterly earnings at $0.02 per share on revenue of $1.15 billion. • Health In Tech (NASDAQ:HIT) is estimated to report quarterly loss at $0.02 per share on revenue of $7.44 million. • MDxHealth (NASDAQ:MDXH) is estimated to report quarterly loss at $0.15 per share on revenue of $27.23 million. • CytoSorbents (NASDAQ:CTSO) is likely to report quarterly loss at $0.05 per share on revenue of $9.36 million. • Avino Silver & Gold Mines (AMEX:ASM) is likely to report quarterly earnings at $0.09 per share on revenue of $49.87 million. • Dyadic International (NASDAQ:DYAI) is expected to report quarterly loss at $0.03 per share on revenue of $986 thousand. • Bionano Genomics (NASDAQ:BNGO) is expected to report quarterly loss at $0.92 per share on revenue of $6.55 million. • Teekay Tankers (NYSE:TNK) is projected to report quarterly earnings at $3.39 per share on revenue of $218.72 million. • Teekay (NYSE:TK) is estimated to report earnings for its first quarter. • Logistic Properties (AMEX:LPA) is estimated to report earnings for its first quarter. • BitGo Holdings (NYSE:BTGO) is estimated to report quarterly loss at $0.01 per share on revenue of $5.65 billion. • Birchtech (AMEX:BCHT) is projected to report earnings for its first quarter. • Identiv (NASDAQ:INVE) is likely to report quarterly loss at $0.12 per share on revenue of $6.91 million. • Energous (NASDAQ:WATT) is likely to report quarterly loss at $0.60 per share on revenue of $3.15 million. • Aeluma (NASDAQ:ALMU) is projected to report quarterly loss at $0.04 per share on revenue of $1.35 million. • AEye (NASDAQ:LIDR) is estimated to report quarterly loss at $0.14 per share on revenue of $275 thousand. • Okeanis Eco Tankers (NYSE:ECO) is projected to report quarterly earnings at $1.74 per share on revenue of $128.40 million. • GrabAGun Digital Hldgs (NYSE:PEW) is likely to report quarterly loss at $0.08 per share on revenue of $24.50 million. • North American Const Gr (NYSE:NOA) is likely to report quarterly earnings at $0.40 per share on revenue of $302.04 million. • Enovix (NASDAQ:ENVX) is projected to report quarterly loss at $0.16 per share on revenue of $6.96 million. • Crescent Capital BDC (NASDAQ:CCAP) is projected to report quarterly earnings at $0.41 per share on revenue of $39.29 million. • Fossil Group (NASDAQ:FOSL) is estimated to report quarterly loss at $0.27 per share on revenue of $204.85 million. • Accelerant Hldgs (NYSE:ARX) is projected to report quarterly earnings at $0.16 per share on revenue of $245.50 million. • DeFi Development (NASDAQ:DFDV) is expected to report quarterly loss at $0.24 per share on revenue of $3.50 million. • Galiano Gold (AMEX:GAU) is projected to report quarterly earnings at $0.12 per share on revenue of $137.50 million. • Capital Southwest (NASDAQ:CSWC) is projected to report quarterly earnings at $0.58 per share on revenue of $61.65 million. • Park Dental Partners (NASDAQ:PARK) is expected to report quarterly earnings at $0.20 per share on revenue of $61.05 million. • Epsilon Energy (NASDAQ:EPSN) is expected to report earnings for its first quarter. • Spectrum Brands Holdings (NYSE:SPB) is projected to report quarterly earnings at $1.04 per share on revenue of $672.80 million. • Manulife Financial (NYSE:MFC) is expected to report earnings for its first quarter. • Global Water Resources (NASDAQ:GWRS) is estimated to report quarterly loss at $0.02 per share on revenue of $13.87 million. • Shoulder Innovations (NYSE:SI) is expected to report quarterly loss at $0.44 per share on revenue of $14.35 million. • Lulus Fashion Lounge (NASDAQ:LVLU) is estimated to report earnings for its first quarter. • PGIM Portfolio Ballast ETF (BATS:PBL) is likely to report quarterly earnings at $0.39 per share on revenue of $154.06 million. This article was generated by Benzinga's automated content engine and reviewed by an editor. UNLOCKED: 5 NEW TRADES EVERY WEEK. Click now to get top trade ideas daily, plus unlimited access to cutting-edge tools and strategies to gain an edge in the markets. This article Earnings Scheduled For May 13, 2026 originally appeared on Benzinga.com © 2026 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

- Revenue of $88.7 Million - - Gross Margin of 22.3%, Increasing 100 Basis Points Year-Over-Year - - On Track to Deliver Positive Adjusted EBITDA in the Third Quarter of 2026 - MP MENASHE, Israel, May 13, 2026--(BUSINESS WIRE)--Caesarstone Ltd. (NASDAQ: CSTE), a leading developer and manufacturer of high-quality engineered surfaces, today reported financial results for its first quarter ended March 31, 2026. 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." First Quarter 2026 Results Revenue in the first quarter of 2026 was $88.7 million compared to $99.6 million in the prior year quarter. On a constant currency basis, first quarter revenue was down approximately 14.9% year-over-year, reflecting continued softness in global demand and competitive pressures, particularly in North America, partially offset by strength in Australia. Gross margin in the first quarter of 2026 was 22.3% compared to 21.3% in the prior year quarter. Adjusted gross margin in the first quarter was 23.9%, compared to 21.2% in the prior year quarter. The improvement in gross margin reflects the realization of cost savings associated with the Company’s transition to its global network of production partners following the closure of its Bar-Lev facility, combined with the benefits of a leaner, more efficient production footprint. Operating expenses in the first quarter of 2026 were $39.2 million, or 44.1% of revenue, compared to $35.9 million, or 36.1% of revenue in the prior year quarter. Excluding legal settlements and loss contingencies and impairment and restructuring expenses, operating expenses were 34.5% of revenue compared to 32.6% in the prior year quarter. The year-over-year difference primarily reflects lower revenues. Operating loss in the first quarter of 2026 was $19.4 million compared to an operating loss of $14.8 million in the prior year quarter. The change was primarily driven by the impairment expenses recorded during the quarter. Adjusted EBITDA in the first quarter of 2026, which excludes expenses for non-cash share-based compensation, legal settlements and loss contingencies, impairment and restructuring charges and other non-recurring items, was a loss of $7.5 million compared to a loss of $7.1 million in the prior year quarter. Finance expenses in the first quarter of 2026 were $1.2 million compared to finance income of $2.5 million in the prior year quarter. Finance expenses result mainly from foreign currency exchange rate fluctuations. Net loss attributable to controlling interest for the first quarter of 2026 was $21.1 million, compared to $12.9 million in the prior year quarter. Net loss per share for the first quarter of 2026 was $0.61 compared to a net loss per share of $0.37 in the prior year quarter. Adjusted diluted net loss per share for the first quarter was $0.32 on 34.6 million shares, compared to an Adjusted diluted net loss per share of $0.29 in the prior year quarter on 34.7 million shares. Balance Sheet & Liquidity As of March 31, 2026, the Company’s balance sheet included cash, cash equivalents and short-term bank deposits of $52.3 million and total debt to financial institutions of $1.8 million. The Company’s net cash position was $50.4 million as of March 31, 2026, compared to a net cash position of $57.5 million as of December 31, 2025. U.S. Tariffs Update The Company continues to monitor the impact of existing and proposed U.S. tariffs affecting various countries and product categories, that are currently in a wide range on the majority of products imported into the U.S. Approximately 45% of the Company's revenues during the three months ended March 31, 2026 were generated in the U.S. market, served by the Company's global production network. In addition to these tariffs, on September 15, 2025, a petition was filed with the U.S. International Trade Commission by a U.S. quartz manufacturer alleging that imports of quartz surface products have caused serious injury to the U.S. domestic industry, seeking quotas on the quantity of quartz surface products that can be imported into the U.S. and/or tariffs of up to 50% ad valorem on all quartz surface products that are imported into the U.S. from most countries. During the first quarter of 2026, the ITC voted affirmatively on serious injury. On May 5, 2026, the Commission issued its recommended remedies, including a proposed four-year tariff-rate quota structure applicable on an aggregate basis across imports, with in-quota tariffs of 25% ad valorem and out-of-quota tariffs of 40% ad valorem. The proposed quota levels would increase annually, while tariff rates would gradually decline over the proposed remedy period. President Trump is expected to issue a final determination within 60 days. The Company is closely monitoring the process and will respond with appropriate supply chain and pricing actions should restrictions be imposed. Legal Proceedings Update As of March 31, 2026, the Company was subject to lawsuits involving approximately 711 individuals alleging injuries related to exposure to respirable crystalline silica dust. These included 36 claims in Israel, 156 in Australia, and 509 in the United States. As of the same date, the Company recorded a provision of $48.8 million, representing its best estimate of probable and reasonably estimable losses associated with pending claims. The Company's insurance receivables related to these silicosis claims totaled $11.6 million. In May 2026, a jury in Colorado ruled in favor of the Company, assigning no liability in one case. During the first quarter of 2026, the Company settled four claims in California. In 2025, a California jury ruled in favor of the Company in one case, assigning no liability. That matter remains under appeal, and one additional claim was settled during the year. In 2024, the Company received one adverse jury verdict, which is also currently under appeal. The remaining U.S. claims are either at an early stage or are considered only reasonably possible losses, and therefore no additional provision has been recorded. In July 2025, both the Company and certain U.S. insurance carriers initiated proceedings for declaratory relief to determine the proper interpretation and application of the Company's U.S. product liability insurance policies and available limits. These proceedings are in an early stage. If there is a change in the assessment for the outcome of the claims or the insurance coverage limits through the course of the trial processes, such changes could have a material and adverse impact on our business, financial position, results of operations and cash flows. Additional information related to legal proceedings can be found in the Company's Annual Report on Form 20-F for the year ended December 31, 2025. Webcast and Conference Call Details The Company will host a webcast and conference call today at 8:30 a.m. ET to discuss the results. The live webcast can be accessed through the Investor Relations section of the Company’s website at ir.caesarstone.com. For those unable to access the webcast, the conference call will be accessible domestically or internationally, by dialing 1-877-407-9716 and 1-201-493-6779, respectively. The toll-free Israeli number is 1 80 940 6247. Upon dialing in, please request to join the Caesarstone First Quarter 2026 Earnings Conference Call. To listen to a telephonic replay of the conference call, dial toll-free 1-844-512-2921 or +1-412-317-6671 (international) and enter pass code 13760376. The replay will be available beginning at 12:30 p.m. ET on Wednesday, May 13, 2026 and will last through 11:59 p.m. ET on Wednesday, May 20, 2026. About Caesarstone Caesarstone is a global leader of premium surfaces, specializing in countertops that create dynamic spaces of inspiration in the heart of the home. Established in 1987, its multi-material portfolio of over 100 colors combines the company’s innovative technology with its powerful design passion. Spearheading high-quality, sustainable surfaces, Caesarstone delivers functional resilience with timeless beauty, for a vast range of applications, including kitchen countertops, bathroom vanities, and more, for indoor and outdoor spaces. Since it pioneered quartz countertops over thirty years ago, the brand has expanded into porcelain and natural stone and is on the ground in more than 50 countries worldwide while enhancing customer experience through the expansion of groundbreaking digital platforms & services. More information on Caesarstone: caesarstoneus.com, Facebook, LinkedIn and Instagram The Company has filed its annual report on Form 20-F for the year ended December 31, 2025 with the U.S. securities and exchange commission ("SEC") and can be accessed on its website. Non-GAAP Financial Measures The non-GAAP measures presented by the Company should be considered in addition to, and not as a substitute for, comparable GAAP measures. Reconciliations of GAAP gross profit to Adjusted gross profit, GAAP net income (loss) to Adjusted net income (loss) and net income (loss) to Adjusted EBITDA are provided in the schedules to this release. To calculate revenues growth rates that exclude the impact of changes in foreign currency exchange rates, the Company converts actual reported results from local currency to U.S. dollars using constant foreign currency exchange rates in the current and comparable period. The Company provides these non-GAAP financial measures because it believes that they present a better measure of the Company's core business and management uses the non-GAAP measures internally to evaluate the Company's ongoing performance. Accordingly, the Company believes that they are useful to investors in enhancing an understanding of the Company's operating performance. Forward-Looking Statements Information provided in this press release may contain statements relating to current expectations, estimates, forecasts and projections about future events that are "forward-looking statements" within the meaning of the "safe harbor" provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as "goals," "intend," "seek," "anticipate," "believe," "could," "continue," "expect," "estimate," "may," "plan," "outlook," "future" and "project" and other similar expressions that predict, project or indicate future events or trends or that are not statements of historical matters. Such forward-looking statements include statements regarding the Company’s goals and plans, intentions, expectations, assumptions, goals and beliefs regarding the Company’s business. Actual results may differ materially from those projections and estimates due to various risks and uncertainties, both known or unknown. These factors include, but are not limited to: the effects of the global and regional economy and geo-politics on the Company’s business and operations including the length, duration and impact of the war in Israel, the Houthi’s disruption to the movement of goods in the Red Sea and trade disruptions such as Turkey’s decision not to trade with Israel; the outcome of silicosis and other bodily injury claims, and the availability of relevant insurance; regulatory changes and requirements relating to the manufacturing and fabrication of our products; the outcome of our restructuring efforts, of the closure of the Sdot Yam and Richmond Hill Facilities, the estimated closure costs and the estimated potential savings relating to said closures, the ability to sell or sublease all or part of these facilities; our ability to effectively collaborate with production business partners; our R&D and product introduction efforts, managing constraints in the global supply chain and effectively procuring raw materials and goods as well as fluctuations in their price; our ability to mitigate the recently imposed U.S. customs tariffs; our ability to protect our brand, technology and intellectual property, as well as our freedom to operate; competitive pressures; disruptions to our information technology systems, fluctuations in currency exchange rates against the U.S. dollar; our ability to successfully integrate our acquisitions; our ability to meet ESG goals and targets; and other risks and uncertainties discussed under the sections "Risk Factors" and "Special Note Regarding Forward-Looking Statements and Risk Factor Summary" in our most recent annual report on Form 20-F filed with the Securities and Exchange Commission (the "SEC") on March 4, 2026, and in other documents filed by Caesarstone with the SEC, which are available free of charge at www.sec.gov. These forward-looking statements are made only as of the date hereof, and the Company undertakes no obligation to update or revise the forward-looking statements, whether as a result of new information, future events or otherwise. View source version on businesswire.com: https://www.businesswire.com/news/home/20260513051925/en/ Contacts Investor Relations: ICR, Inc. - Rodny Nacier [email protected] +1 (646) 200-8870

Caesarstone (NASDAQ:CSTE) held its first-quarter earnings conference call on Wednesday. Below is the complete transcript from the call. Benzinga APIs provide real-time access to earnings call transcripts and financial data. Visit https://www.benzinga.com/apis/ to learn more. The full earnings call is available at https://viavid.webcasts.com/starthere.jsp?ei=1761485&tp_key=82d1445cfd Caesarstone's Q1 2026 results show a 15% year-over-year revenue decline to $88.7 million, with macroeconomic headwinds and competitive pressures impacting North American sales. Gross margin improved by 100 basis points to 22.3% due to the transition to a third-party manufacturing model, with expected annualized savings of $22 million by 2027. Australia delivered strong revenue growth, while geopolitical issues in Israel and increased product costs affected results. The company is investing in brand development, R&D, and enhancing customer value propositions, with porcelain as a key growth area. Restructuring actions are expected to save over $100 million by 2027, with a focus on cost reduction and supply chain optimization amidst U.S. tariff changes. Adjusted EBITDA showed stability despite lower volumes, and the company maintains a net cash position of $50.4 million. Caesarstone aims for positive adjusted EBITDA by Q3 2026, assuming stable economic and geopolitical conditions. OPERATOR Greetings and welcome to the Caesarstone first quarter 2026 earnings conference call. As a reminder, this conference is being recorded. It is now my pleasure to introduce your host, Brad Cray of ICR. Thank you. You may begin. Brad Cray (Moderator) Thank you, operator. And good morning to everyone on the line. I am joined by Yo Charan, Caesarstone's Chief Executive Officer and Nahum Trost, Caesarstone's Chief Financial Officer. Certain statements in today's conference call and responses to various questions may constitute forward looking statements. We caution you that such statements reflect only the Company's current expectations and that actual events or results may differ materially. For more information, please refer to the risk factors contained in the Company's most recent annual report on Form 20F and subsequent filings with the SEC. In addition, on this call, the Company will make reference to certain non GAAP financial measures, including adjusted net loss income, adjusted net loss income, per share, adjusted gross profit, adjusted EBITDA and constant currency. The reconciliation of these non GAAP measures to the most directly comparable GAAP measures can be found in the company's first quarter 2026 earnings release which is posted on the Company's investor relations website. On today's call, Yo Charan will discuss our business activity and Nahum will then cover additional details regarding financial results. Thank you. And I would now like to turn the call over to Yo. Please go ahead. Yo Charan (Chief Executive Officer) Thank you, Brad. And good morning everyone. Our first quarter results reflected meaningful structural progress in our transformation. Gross margin expanded by 100 basis points despite lower revenue supported by our transition to a third party manufacturing model and a more optimized production footprint. This provides further evidence that our restructuring actions are reshaping the company's earnings profile. With the closure of Ballet Porcelain, production is now fully transitioned to our global manufacturing partner network, excluding porcelain, which continues to be produced at our Loyola facility in India. We continue to expect these actions to generate annualized cash savings of approximately $22 million by 2027, bringing total savings since 2023 to more than $100 million. Global revenues were approximately $89 million, down 15% year over year on a constant currency basis, reflecting macroeconomic headwinds and competitive pressures, particularly in North America. In North America, we are taking targeted commercial actions to improve channel productivity and strengthen key customer relationships. Australia continued to be a strong performing region, delivering solid revenue growth as we recapture our leading market position following the introduction of our zero silica Icon products. This reinforces that our brand and innovation can drive renewed commercial momentum when aligned with market needs. The regional conflict in the Middle east, which began at the end of February, impacted demand in Israel. In addition, geopolitical volatility has increased product costs and sieve freights which we expect will affect our results mainly in the second half of 2026. Across the business, we are investing in our brand, strengthening R and D capabilities and enhancing our value proposition for customers and channel partners. Porcelain remains an important long term growth category. With full ownership of Loyola Ceramica, we are focused on improving execution and commercial alignment. Looking ahead, the external environment remains uncertain with evolving trade policies, macroeconomic pressures and competitive dynamics continuing to impact demand across global surface categories, we continue to focus on disciplined restructuring, execution, stronger production partnerships and sustainable profitability. We are committed to building a stronger, more resilient and more profitable Caesarstone. I will now turn the call over to Nahum. Nahum Trost (Chief Financial Officer) Thank you Jos and good morning everyone. Looking at our first quarter results, global revenue was $88.7 million compared to $99.6 million million in the prior year quarter. On a constant currency basis, revenue declined approximately 14.9% year over year, primarily reflecting continued softness in global demand and competitive dynamics, mainly in North America. These factors were partially offset by the ongoing recovery in Australia. Breaking down our regional performance in the U.S. revenue was approximately $40 million compared to $49.1 million in the prior year quarter. The change reflected persistent market softness and competitive pressures. Canadian revenue decreased 23.8% on a constant currency basis due to similar market Dynamics as the US. In Australia, revenue was approximately $17.1 million compared to $13.8 million in the prior year quarter, an increase of approximately 11.2% on a constant currency basis. This marked the third consecutive quarter of year over year growth in Australia. The improvement reflects the growing acceptance of our icon products in the market. We remain focused on building on this progress and further strengthening our competitive standing. In Australia. EMEA revenue were down 10.3% on a constant currency basis, primarily driven by timing of shipments in our indirect distributor channel which we expect to normalize as we move into the second quarter. Our direct business in Sweden and our UK operations were relatively stable in the period in Israel. First quarter revenue was $4.2 million compared to $5 million in the prior year quarter mainly as a result of the impact of the conflict in the area. Looking at our first quarter P&L performance, gross margin was 22.3% compared to 21.3% in the prior year quarter, an improvement of 100 basis points even on lower revenues. Adjusted Gross margin was 23.9% compared to 21.2% in the prior year quarter. The improvement in gross margin reflects the benefit of our improved production footprint. With quartz production now fully transitioned to our global manufacturing partner network, we are beginning to capture the intended benefits of a more flexible asset light production model. Operating expenses were $39.2 million representing 44.1% of revenue compared to $35.9 million or 36.1% of revenue in the prior year quarter. Excluding legal settlements, loss contingencies and impairment and restructuring expenses, operating expenses were approximately 34.5% of revenue in the first quarter compared to 32.6% in the prior year quarter. The year over year difference is primarily a function of lower revenues. Adjusted EBITDA in the first quarter of 2026 was the loss of $7.5 million compared to a loss of $7.1 million in the prior year quarter. This relatively stable performance despite lower revenue underscores the benefit of our strategic initiative. Finance expense was $1.2 million compared to finance income of $2.5 million in the prior year quarter primarily due to foreign currency exchange rate fluctuations. Adjusted diluted net loss per share for the first quarter was $0.32 on 34.6 million shares compared to adjusted diluted net loss per share of $0.29 in the prior quarter on 34.7 million shares. Now turning to our cash flow and balance sheet. As of March 31, 2026, cash cash equivalents and short term bank deposits total to $52.3 million. Total debt to financial institutions was $1.8 million, resulting in a net cash position of $50.4 million. This compares to a net cash position of $57.5 million as of December 31, 2025. Now let me provide important contents on several items. Our restructuring plan has reached a significant milestone with the transition of our quartz production from our Ballet facility to our global manufacturing partner network. We are now capturing an increasing contribution of cost savings from this action. Based on restructuring actions completed to date, we expect to realize the annual cost savings of more than $100 million by 2027 when compared to full year of 2023. There remains potential for additional savings as subleases are executed on non cancellable long term lease agreements associated with our former facilities. Cash costs associated with restructuring program in the first quarter of 2026 were $0.4 million and for the remainder of 2026 we expect to incur additional cash costs of approximately $3 to $5 million related to ongoing restructuring activities beyond the facility closures. Our restructuring plan will continue to focus on identifying additional actions that can improve profitability and cash flow. This includes the evaluation of distribution center consolidation and other fixed cost reduction opportunities. These incremental actions are designed to reinforce our path to profitability driven by the increasing run rate contribution from completed restructuring actions, additional fixed cost reductions, seasonal revenue improvement and continued progress in Australia, partially offset by tariff, freight and geopolitical cost pressures. Turning to the US Tariff environment, the US Government has implemented road based import tariffs across wide range of countries product categories as it stands today, the average tariff applicable to the products we import into the US market is approximately 15%. Approximately 45% of our revenues are generated in the United States and served by our global manufacture partner network. We have been in active dialogue with our production partners to optimize our supply chain in response to the increased cost of goods and we have implemented a price increase in the US Market to partially offset higher costs. We will continue to monitor the situation and take proactive steps to protect our margin profile as the tariff landscape evolves. I would like also to comment on the ITC investigation which is a separate court-based trade matter. The ITC has voted affirmatively on injury during the first quarter of 2026. On May 5, 2026, the Commission issued its recommended remedies including a proposed four year tariff rate quota structure applicable on an aggregated basis across imports with in quarter tariff of 25% at valor M and out of quarter tariff of 40% at valorm. The proposed quota levels would increase annually while tariff rates would gradually decline over the proposed remedy period. the President is expected to issue a final determination within 60 days. We are assessing all potential outcomes and remain actively engaged in the process. We would seek to mitigate this impact through further supply chain optimization and appropriate pricing actions on legal proceedings. As of March 31, 2026, we had 711 lawsuits alleging silica related injuries. This includes 36 in Israel, 156 in Australia and 509 claims in the U.S. we have recorded a $48.8 million provision representing our best estimate of probable losses with $11.6 million in insurance receivables. In May, a jury in Colorado ruled in favor of Caesarstone, assigning no liability to the company. Also, during the first quarter of 2026 we settled four additional claims in California. These matters remain complex and at the different stages of development and we will continue to evaluate our reserves and insurance recoveries as facts and circumstances evolve. We and certain insurance carriers initiated proceedings in July of 2025 regarding interpretation of our insurance coverage. These proceedings are still in early stages. We also want to mention that a bill titled the Protection of Lawful Commerce in Stone Slip Products act was introduced in the US House of Representatives in 2025. The bill aims to ensure that manufacturers and distributors of stone slab products are not held liable for injuries caused by unsafe fabrication and alteration performed by third party fabricators. The bill remains at an early legislative stage with no material progress beyond the initial subcommittee hearing in January 2026. The timing and the ultimate outcome remain uncertain, but we view the underlying intent of the legislation as a constructive step for our industry. In conclusion, the quarter showed that our restructuring actions are beginning to flow through the P and L Revenue remains pressured, but gross margin improved adjusted EBITDA was relatively stable year over year despite lower volume and our net cash position gives us the flexibility to continue executing as consumer confidence and housing market activity normalize. We believe Caesarstone is well positioned to benefit from a recovery in countertop demand with a stronger cost structure and improved brand positioning than we had entering this period. Based on our current operating plan and assuming no material deterioration in global economic and geopolitical conditions, we remain on track to achieve positive adjusted ebitda in the third quarter of 2026. Thank you for your attention this morning. We appreciate your continued support and look forward to updating you on our progress next quarter. Disclaimer: This transcript is provided for informational purposes only. While we strive for accuracy, there may be errors or omissions in this automated transcription. For official company statements and financial information, please refer to the company's SEC filings and official press releases. Corporate participants' and analysts' statements reflect their views as of the date of this call and are subject to change without notice. Up Next: Transform your trading with Benzinga Edge's one-of-a-kind market trade ideas and tools. Click now to access unique insights that can set you ahead in today's competitive market. Get the latest stock analysis from Benzinga: CAESARSTONE (CSTE): Free Stock Analysis Report This article Caesarstone Reports Q1 2026 Results: Full Earnings Call Transcript originally appeared on Benzinga.com ﾩ 2026 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

MP MENASHE, Israel, April 29, 2026--(BUSINESS WIRE)--Caesarstone Ltd. (NASDAQ: CSTE), a leading developer and manufacturer of high-quality engineered surfaces, today announced that it will release its earnings results for the first quarter ended March 31, 2026 on Wednesday, May 13, 2026 before the market opens. The Company will host a webcast and conference call on the same day at 8:30 a.m. ET to discuss the results. The live webcast can be accessed through the Investor Relations section of the Company’s website at ir.caesarstone.com. For those unable to access the webcast, the conference call will be accessible domestically or internationally, by dialing 1-877-407-9716 and 1-201-493-6779, respectively. The toll-free Israeli number is 1 80 940 6247. Upon dialing in, please request to join the Caesarstone First Quarter 2026 Earnings Conference Call. To listen to a telephonic replay of the conference call, dial toll-free 1-844-512-2921 or +1-412-317-6671 (international) and enter pass code 13760376. The replay will be available beginning at 12:30 p.m. ET on Wednesday, May 13, 2026 and will last through 11:59 p.m. ET on Wednesday, May 20, 2026. About Caesarstone Caesarstone is a global leader of premium surfaces, specializing in countertops that create dynamic spaces of inspiration in the heart of the home. Established in 1987, its multi-material portfolio of over 100 colors combines the company’s innovative technology with its powerful design passion. Spearheading high-quality, sustainable surfaces, Caesarstone delivers functional resilience with timeless beauty, for a vast range of applications, including kitchen countertops, bathroom vanities, and more, for indoor and outdoor spaces. Since it pioneered quartz countertops over thirty years ago, the brand has expanded into porcelain and natural stone and is on the ground in more than 50 countries worldwide while enhancing customer experience through the expansion of groundbreaking digital platforms & services. More information on Caesarstone: caesarstoneus.com, Facebook, Twitter, YouTube, Pinterest, and Instagram Forward-Looking Statements Information provided in this press release may contain statements relating to current expectations, estimates, forecasts and projections about future events that are "forward-looking statements" within the meaning of the "safe harbor" provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as "goals," "intend," "seek," "anticipate," "believe," "could," "continue," "expect," "estimate," "may," "plan," "outlook," "future" and "project" and other similar expressions that predict, project or indicate future events or trends or that are not statements of historical matters. Such forward-looking statements include statements regarding the Company’s goals and plans, intentions, expectations, assumptions, goals and beliefs regarding the Company’s business. Actual results may differ materially from those projections and estimates due to various risks and uncertainties, both known or unknown. These factors include, but are not limited to: the effects of the global and regional economy and geo-politics on the Company’s business and operations including the length, duration and impact of the war in Israel, the Houthi’s disruption to the movement of goods in the Red Sea and trade disruptions such as Turkey’s decision not to trade with Israel; the outcome of silicosis and other bodily injury claims, and the availability of relevant insurance; regulatory changes and requirements relating to the manufacturing and fabrication of our products; the outcome of our restructuring efforts, of the closure of the Sdot Yam and Richmond Hill Facilities, the estimated closure costs and the estimated potential savings relating to said closures, the ability to sell or sublease all or part of these facilities; our ability to effectively collaborate with production business partners; our R&D and product introduction efforts, managing constraints in the global supply chain and effectively procuring raw materials and goods as well as fluctuations in their price; our ability to mitigate the recently imposed U.S. customs tariffs; our ability to protect our brand, technology and intellectual property, as well as our freedom to operate; competitive pressures; disruptions to our information technology systems, fluctuations in currency exchange rates against the U.S. dollar; our ability to successfully integrate our acquisitions; our ability to meet ESG goals and targets; and other risks and uncertainties discussed under the sections "Risk Factors" and "Special Note Regarding Forward-Looking Statements and Risk Factor Summary" in our most recent annual report on Form 20-F filed with the Securities and Exchange Commission (the "SEC") on March 4, 2026, and in other documents filed by Caesarstone with the SEC, which are available free of charge at www.sec.gov. These forward-looking statements are made only as of the date hereof, and the Company undertakes no obligation to update or revise the forward-looking statements, whether as a result of new information, future events or otherwise. View source version on businesswire.com: https://www.businesswire.com/news/home/20260429513927/en/ Contacts Investor Relations: ICR, Inc. - Rodny Nacier [email protected] +1 (646) 200-8870