Nov 13, 2024 / 01:30PM GMT
Nahum Trost - Caesarstone Ltd - Chief Financial Officer
(technical difficulty) Experiencing similar market dynamics as the US Australia's sales were off by approximately 37.7 on a constant currency basis, mainly reflecting slower market conditions and the transition to alternative materials that comply with new regulations in Australia.
Our EMEA region saw a decline of 26 on a constant currency basis due to slow market conditions in the UK, Sweden and our indirect EMEA business in Israel sales were off by 24.5% on a constant currency basis in the third quarter. Mainly as a result of the war on terror, which has significantly reduced activity in the region.
Looking at our third quarter, P&L performance gross margin in the third quarter improved to 19.9 compared to 19.1 in the prior quarter.
Adjusted gross margin was 19.8% which remained stable with the prior year quota.
The relative stability in the adjusted gross margin was primarily driven by the benefits of an improved production footprint, partially offset by unfavorable product mix and the increased shipping
Q3 2024 Caesarstone Ltd Earnings Call Transcript
Nov 13, 2024
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