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Caesarstone Sdot-Yam Up 9.99% To $9.64 After Earnings Miss

Wednesday, August 03, 2022 11:39 AM | InvestorsObserver Analysts
Caesarstone Sdot-Yam Up 9.99% To $9.64 After Earnings Miss

Caesarstone Sdot-Yam (CSTE) said before open Wednesday that it earned $0.2 per share in quarter two 2022. The company reported earnings on an adjusted basis, so it may not be directly comparable to analyst estimates or prior periods.

On the revenue line, the company reported $180.3 million, missing estimates by $678 thousand.

In the same quarter a year ago, the company earned $0.21 per share on revenue of $163.5 million.

The stock is up 9.99% to $9.64 after the report.

Despite revenues increasing, earnings decreased, signaling a decline in profit margins.

Wall Street Analysts had an average rating of Buy on the stock prior to the report.

Trading in the five days leading up to the report earned Caesarstone Sdot-Yam a Bearish Sentiment Rank from InvestorsObserver.

Prior to the report, InvestorsObserver gave the stock an overall score of 25. Meanwhile, the average Wall Street analyst rated the stock a Buy.

Caesarstone Ltd manufactures engineered quartz surfaces. Its products primarily include engineered quartz and porcelain slabs, which are used as kitchen countertops in renovation and remodeling, and residential construction. It also has other applications, including vanity tops, wall panels, backsplashes, floor tiles, stairs, and other interior surfaces that are used in various residential and non-residential applications. The company sells its products under the Caesarstone brand. Caesarstone's geographical segments are the United States, Canada, Latin America, Australia, Asia, Israel, and EMEA(Europe, Middle East, Africa).

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