Brief: Caesarstone Reports First Quarter 2023 Financial Results

Caesarstone

10/05/2023 13:56

May 10 (Reuters) - Caesarstone Ltd  19C.F :
    * CAESARSTONE REPORTS FIRST QUARTER 2023 FINANCIAL RESULTS
    * CAESARSTONE LTD Q1 REVENUE $150.6 MILLION
    * CAESARSTONE LTD Q1 LOSS PER SHARE $0.11
    * CAESARSTONE LTD Q1 ADJUSTED LOSS PER SHARE $0.17
    * CAESARSTONE LTD - INITIATES GLOBAL RESTRUCTURING PLAN
    * CAESARSTONE - AS FIRST STEP IN RESTRUCTURING PLAN, HAVE
STOPPED
PRODUCTION AT SDOT-YAM FACILITY IN ISRAEL,ARE TAKING ACTIONS TO
PERMANENTLY CLOSE SITE
    * CAESARSTONE LTD- COMMENCING CLOSURE OF MANUFACTURING
FACILITY IN
SDOT-YAM, ISRAEL, REDUCTION IN HEADCOUNT OF ABOUT 150 EMPLOYEES
MOSTLY IN FACILITY
    * CAESARSTONE LTD- IN CONNECTION WITH  SDOT-YAM FACILITY
CLOSURE,
EXPECTS TO INCUR ESTIMATED COSTS  OF $4.0 MILLION TO $8.0
MILLION BEGINNING IN Q2 OF 2023
    * CAESARSTONE LTD- IS NO LONGER PROVIDING AN OUTLOOK FOR
FULL YEAR
REVENUES OR ADJUSTED EBITDA MARGIN

Source text for Eikon:  ID:nBw8g0WFRa 
Further company coverage:  19C.F 

 ((Reuters.Briefs@thomsonreuters.com;))