Quarterly ResultMay 13, 2026, 08:57 AM
Caesarstone Q1 Revenue $88.7M; Gross Margin 22.3%
AI Summary
Caesarstone reported first quarter 2026 financial results, with revenue decreasing to $88.7 million, down 10.9% year-over-year. Despite revenue pressure, the company achieved a gross margin expansion to 22.3%, driven by its transition to a third-party manufacturing model and restructuring efforts. The company remains on track to deliver positive Adjusted EBITDA in the third quarter of 2026, while navigating macroeconomic headwinds, competitive dynamics, U.S. tariff uncertainties, and ongoing legal proceedings related to silicosis claims.
Key Highlights
- Revenue was $88.7 million, down 10.9% YoY (14.9% constant currency).
- Gross margin increased to 22.3% from 21.3% YoY; Adjusted gross margin was 23.9%.
- Operating loss was $19.4 million, compared to $14.8 million in prior year quarter.
- Adjusted EBITDA was a loss of $7.5 million, compared to a loss of $7.1 million YoY.
- Net loss attributable to controlling interest was $21.1 million, or $0.61 per share.
- Net cash position was $50.4 million as of March 31, 2026.
- Company is on track to achieve positive Adjusted EBITDA in Q3 2026.
- Provision of $48.8 million recorded for 711 silicosis-related lawsuits.