Caesarstone Expects To Deliver Positive Adjusted EBITDA In 2024

Author: Benzinga Newsdesk | February 21, 2024 08:07am

"As we enter 2024, we believe our business is seeing signs of stabilization. The U.S. macro environment appears more encouraging with potential Fed rate cuts on the horizon to catalyze construction activity. In Australia, we are determined to maintain our leading position as we introduce our high-quality alternative products in the first half of 2024. Based on these factors, we expect first quarter revenues to trend in line with the fourth quarter and improve sequentially in accordance with our historic seasonal cadence. While macro uncertainties and the competitive landscape persist, our strategic restructuring actions initiated over the past year have put us on more solid footing with leaner operations to deliver positive adjusted EBITDA in 2024. We also expect to produce another full year of positive operating cash flow. We believe that we are poised to take hold of the promising opportunities that lie ahead," concluded Nahum Trost, Caesarstone's Chief Financial Officer.

Posted In: CSTE