CSTE - Caesarstone reports missed Q3 earnings; narrows FY22 guidance range

• Caesarstone press release ( NASDAQ: CSTE ): Q3 Non-GAAP EPS of $0.01 misses by $0.26 .
• Revenue of $180.7M (+10.7% Y/Y) misses by $2.15M .
• Adjusted EBITDA of $13.4M.
• Revises Full Year 2022 Outlook : The Company revises its expectation for 2022 revenue to be in the range of $690 million to $700 million, compared to a prior range of $710 million to $725 million vs. consensus of $720.71M.

• Additionally, the Company revises its expectation for Adjusted EBITDA as a percentage of revenues to be approximately 8.0% to 8.5% for the full year 2022 compared to 10.6% in 2021 due predominantly to unfavorable foreign currency exchange rates and to a lesser extent due to higher shipping and logistics related costs.

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