Caesarstone Reaffirms 2024 Outlook: Expects Positive Operating Cash Flow And Adjusted EBITDA Loss In Mid-Single-Digit Millions
Portfolio Pulse from Benzinga Newsdesk
Caesarstone reaffirms its 2024 outlook, expecting positive operating cash flow primarily in the first half of the year, but anticipates an adjusted EBITDA loss in the mid-single-digit millions due to increased shipping and material costs in the second half. The company also expects restructuring-related cost savings of $20 million in 2024 and $30 million thereafter compared to 2023.
August 07, 2024 | 11:14 am
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Caesarstone reaffirms its 2024 outlook with positive operating cash flow expected, but anticipates an adjusted EBITDA loss in the mid-single-digit millions due to increased costs. The company also expects significant restructuring-related cost savings.
While the reaffirmation of positive operating cash flow is a positive sign, the anticipated adjusted EBITDA loss due to increased costs could offset this. The restructuring-related cost savings are a long-term positive but may not immediately impact the stock price.
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