2023-05-10 07:22:24 ET
- Caesarstone press release ( NASDAQ: CSTE ): Q1 Non-GAAP EPS of -$0.17 misses by $0.16 .
- Revenue of $150.6M (-11.6% Y/Y) misses by $12.71M .
- Cash Flow from Operations of $7.9 Million.
- Adjusted EBITDA in the first quarter of 2023, which excludes expenses for non-cash share-based compensation, legal settlements and loss contingencies and for non-recurring items, was $0.7 million, representing a margin of 0.5%.
- Outlook: Based on the actions and initiatives underway, the Company has amended its full year outlook to align with its focus on cash flow. With headwinds such as slow macroeconomic conditions and volatile business trends, which may be offset by tailwinds that include lower raw material and shipping costs and restructuring efforts, the Company is no longer providing an outlook for full year revenues or Adjusted EBITDA margin. The Company will prioritize cash flow and expects to generate positive cash flow from operations and end the year with an improved net cash position based on inventory reductions and other working capital improvements, along with cost optimization efforts.
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Caesarstone Non-GAAP EPS of -$0.17 misses by $0.16, revenue of $150.6M misses by $12.71M