Karat Packaging Inc. Stock Price, News & Analysis

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.

Karat Packaging Inc. (Nasdaq: KRT) reported strong financial results for Q4 2021, with net sales of $91.3 million, up 29.8% year-over-year. Gross profit rose 46.7% to $28.3 million, and net income surged more than three-fold to $6.0 million. The gross margin improved to 31.0%. For 2022, the company anticipates first-quarter net sales between $101 million and $103 million, a notable increase from $75.7 million in Q1 2021. Karat aims for a full-year sales growth of 17% to 19% and seeks to maintain a gross margin of 31% to 32%.

Karat Packaging Inc. (Nasdaq: KRT) announced the release of its fourth quarter and full year 2021 financial results on March 23, 2022, after market close. An investor conference call will be held the same day at 2:00 p.m. PT (5:00 p.m. ET). Interested parties can join via phone or access a replay until March 30. Karat Packaging specializes in environmentally friendly disposable foodservice products utilized by restaurants across the U.S. Its product line notably includes the Karat Earth® eco-friendly range. For further details, visit the company's website.

Karat Packaging Inc. (NASDAQ: KRT) has appointed Jian Guo as its new chief financial officer, effective immediately. She succeeds Peter Lee, who will support the transition until March 31, 2022. Guo brings extensive experience from her previous roles at Resources Connection, Inc. and Newegg Inc., along with a strong background at Ernst & Young. CEO Alan Yu expressed confidence in Guo's ability to enhance the company's expansion into new business areas and strengthen its eco-friendly product offerings.

Karat Packaging Inc. (NASDAQ: KRT) is expanding its logistics services by adding ten fully electric Tesla Semi trucks to its fleet. This move aims to enhance its third-party logistics (3PL) offerings and signifies a commitment to environmentally friendly solutions. Currently operating 86 trucks, Karat Packaging serves approximately 100 customers mainly in California, with plans for geographical expansion. The new trucks are expected to improve efficiency, reducing transport costs with a range of up to 500 miles per charge.