Caesarstone Ltd.

and welcome to the Caesarstone First Quarter 2026 Earnings Conference Call. As a reminder, this conference is being recorded. It is now my pleasure to introduce your host, Brad Cray of ICR. Thank you. You may begin.

Thank you, Operator, and good morning to everyone on the line. I am joined by Yoch Sharan, Caesarstone's Chief Executive Officer, and Nahum Trost, Caesarstone's Chief Financial Officer. Certain statements in today's conference call in response to the various questions may constitute forward-looking statements. We caution you that such statements reflect only the company's current expectations and that actual events or results may differ materially. For more information, please refer to the risk factors contained in the company's most recent annual report on Form 20-S and subsequent filings with the SEC. In addition, on this call, the company will make reference to certain non-GAAP financial measures, including adjusted net loss income, adjusted net loss income per share, adjusted gross profit, adjusted EBITDA, and constant currency. The reconciliation of these non-GAAP measures to the most directly comparable GAAP measures can be found in the company's first quarter 2026 earnings release, which is posted on the company's investor relations website. On today's call, Yost will discuss our business activity and the whom will then cover additional details regarding financial results. Thank you, and I would now like to turn the call over to Yost. Please go ahead.

Thank you, Brad, and good morning, everyone. Our first quarter results reflected meaningful structural progress in our transformation. Gross margin expanded by 100 basis points despite low revenue, supported by our transition to a third-party manufacturing model and a more optimized production footprint. This provides further evidence that our restructuring actions are reshaping the company's earnings profile. With the closure of Barlev, gross production is now fully transitioned to our global manufacturing partner network, excluding porcelain, which continues to be produced at our Loyoli facility in India. We continue to expect these actions to generate annualized cash savings of approximately $22 million by 2027, bringing total savings since 2023 to more than $100 million. Global revenues were approximately $89 million, down 15% year-over-year on a constant currency basis. reflecting macroeconomic headwinds and competitive pressures, particularly in North America. In North America, we are taking targeted commercial actions to improve channel productivity and strengthen key customer relationships. Australia continues to be a strong performing region, delivering solid revenue growth as we recapture our leading market position following the introduction of our Zero Silica Icon products. This reinforces that our brand and innovation can drive renewed commercial momentum when aligned with market needs. The regional conflict in the Middle East, which began at the end of February, impacted demand in Israel. In addition, geopolitical volatility has increased product costs and sea freights, which we expect will affect our results mainly in the second half of 2026. Across the business, we are investing in our brand, strengthening R&D capabilities, and enhancing our value proposition for customers and channel partners. Porcelain remains an important long-term growth category. With full ownership of Loyoli Ceramica, we are focused on improving execution and commercial alignment. Looking ahead, the external environment remains uncertain with evolving trade policies, macroeconomic pressures, and competitive dynamics continuing to impact demand across global surface categories. We continue to focus on disciplined restructuring execution, stronger production partnerships, and sustainable profitability. We are committed to building a stronger, more resilient, and more profitable scissor stone. I will now turn the call over to Nahum.