Karat Packaging Inc. Stock Price, News & Analysis

Karat Packaging Inc. (KRT) reported a strong third quarter for 2022 with net sales of $110.0 million, a 7.1% increase year-over-year. Gross profit rose 14.7% to $34.2 million, leading to a gross margin expansion to 31.1%. Net income surged 51.1% to $6.2 million, with an adjusted EBITDA of $11.7 million. The company also showcased record operating cash flow of $20.2 million. Looking ahead, Q4 sales are projected between $95 million and $98 million. Despite increased sales, customer destocking impacted results.

Karat Packaging Inc. (Nasdaq: KRT) has declared a special dividend of $0.35 per share, set to be paid on or around November 30, 2022 to shareholders of record by November 21, 2022. Alan Yu, CEO, emphasized this decision as a reflection of the Board's confidence in the company's long-term prospects and its strong cash flow performance. The company continues to demonstrate solid growth and a robust financial position, allowing it to return excess capital to shareholders.

Karat Packaging Inc. (KRT) announced it will release its third-quarter financial results for 2022 after market close on November 10, 2022. The company specializes in eco-friendly, disposable foodservice products used by various restaurants across the U.S. A conference call will follow the earnings release at 2:00 p.m. PT/5:00 p.m. ET, allowing investors to discuss the results. Karat Packaging's offerings include a wide range of products, notably its sustainable Karat Earth® line. For more details, visit their investor website.

Karat Packaging Inc. (Nasdaq: KRT) reported a record quarterly revenue of $114.9 million for Q2 2022, marking a 21.5% increase year-over-year. Gross profit rose by 20.9% to $34.0 million, with a gross margin of 29.6%. Net income was $7.2 million, down from $9.3 million in Q2 2021. Adjusted EBITDA grew 14.6% to $11.8 million. For Q3 2022, net sales are projected between $117 million and $120 million, with a full-year guidance of $445 million to $449 million. The company emphasizes strong demand for eco-friendly products amid regulatory changes.

Karat Packaging Inc. (KRT), a distributor and manufacturer of eco-friendly disposable foodservice products, will release its second quarter financial results on August 11, 2022, after market close. An investor conference call is scheduled for the same day at 2:00 p.m. PT/5:00 p.m. ET. Karat specializes in a variety of products including containers, bags, and tableware, emphasizing sustainable solutions through its Karat Earth® line made from renewable resources. Investors can access the results via a webcast available for one year.

Karat Packaging Inc. (Nasdaq: KRT) will participate in two investor conferences in June 2022. The first event is a fireside chat on June 7 at 10:55 a.m. ET during the Stifel 2022 Cross Sector Insight Conference in Boston, featuring CEO Alan Yu and CFO Jian Guo. The second event is the William Blair Growth Stock Conference on June 9 at 9:20 a.m. CT, held in Chicago. Both events will be webcast live on Karat's investor relations website and archived for approximately one year. Karat specializes in environmentally friendly disposable foodservice products.

Karat Packaging Inc. (KRT) reported record quarterly net sales of $105.4 million for Q1 2022, a 39.3% increase year-over-year, alongside a net income of $7.9 million, doubling from the prior-year quarter. The gross profit was $34.3 million, up 58.6% with a gross margin of 32.5%. The company anticipates Q2 net sales between $116 million and $118 million. Additionally, a joint venture for a 180,000-square-foot factory in Taiwan was established to enhance production of compostable products.

Karat Packaging Inc. (Nasdaq: KRT) announced that it will report its first quarter financial results for 2022 after market close on May 12, 2022. The company will also host an investor conference call at 2:00 p.m. PT/5:00 p.m. ET on the same day. Karat specializes in environmentally friendly disposable foodservice products, including food containers, tableware, and packaging solutions, primarily serving restaurants and foodservice sectors across the U.S. The company's eco-friendly product line includes items made from renewable resources.

Karat Packaging Inc. (NASDAQ: KRT) has announced a joint venture with Happiness Moon, Co. Ltd to establish Green Earth Technology in Taiwan, focusing on manufacturing eco-friendly foodservice products. Karat will invest approximately $6 million and hold a 49% stake in the new entity. The 180,000 square-foot facility is set to produce 7,560 tons of bagasse products in 2023, with half allocated for Karat’s customers. This initiative aims to enhance Karat’s vertical integration and meet growing demand for compostable products, supporting its commitment to sustainability.