Welcome to our dedicated page for Karat Packaging news (Ticker: KRT), a resource for investors and traders seeking the latest updates and insights on Karat Packaging stock.
Karat Packaging Inc. (Nasdaq: KRT) is a specialty distributor and manufacturer of disposable foodservice products and related items, serving national and regional restaurants and other foodservice settings throughout the United States. The KRT news feed on Stock Titan aggregates company announcements, earnings releases, and other material updates drawn from public disclosures and press releases.
Recent Karat Packaging news has focused on record quarterly net sales and net income in certain periods, as well as detailed discussions of gross margin, cost of goods sold, and the impact of import duties, tariffs, and freight costs. The company’s releases also describe efforts to diversify its sourcing footprint, including changes in sourcing from various regions and expansion of domestic manufacturing operations, in order to navigate trade uncertainty and support anticipated business growth.
Investors following KRT news can also expect updates on corporate actions such as regular quarterly cash dividends and the authorization of a share repurchase program. The company has used news releases to announce board decisions on dividends, details of its share repurchase authorization, and information about secondary offerings of common stock by certain stockholders under a shelf registration statement.
Additional news items cover operational developments, including the relocation of its business operating subsidiary Lollicup USA Inc.’s headquarters to Rockwall, Texas, and participation in investor conferences. Earnings-related releases provide commentary from management on business trends, sourcing strategy, logistics capabilities, and the performance of its eco-friendly Karat Earth® product line within the broader disposable foodservice portfolio.
By monitoring the Karat Packaging news page, readers can review a consolidated stream of these updates, including financial results, capital allocation decisions, sourcing and logistics developments, and other events that the company reports through press releases and associated filings.
Karat Packaging Inc. (NASDAQ: KRT) has announced the approval of PricewaterhouseCoopers (PwC) as its new independent auditor for the year ending December 31, 2023. This decision was made by the Audit Committee of the Board of Directors and is not associated with any disagreements with the previous auditor, BDO USA LLP. Karat Packaging specializes in the distribution and manufacturing of disposable foodservice products for restaurants and other foodservice settings across the U.S. The company is also known for its eco-friendly product line, Karat Earth®, which focuses on sustainability.
Karat Packaging Inc. (Nasdaq: KRT) reported its financial results for Q4 and the full year 2022 on March 16, 2023. Q4 net sales rose to $92.7 million, a 1.5% increase, while gross profit reached $29.7 million, up 4.8%. However, net income fell to $4.5 million, a decline from $6.0 million in the prior year. The 2022 full-year revenue was $423 million, up 16.1%, with a gross margin of 31.2%. The company anticipates a high single-digit increase in full-year 2023 sales, despite expected lower sales in H1 2023 due to price reductions and inventory destocking. Karat is focusing on growth strategies, including expanding its eco-friendly product lines and improving inventory management.
Karat Packaging Inc. (KRT) will release its 2022 fourth quarter and full year financial results after market close on Thursday, March 16, 2023. The company will also host an investor conference call on the same day at 2:00 p.m. PT / 5:00 p.m. ET. Investors can join the call by dialing 877-418-4045 domestically or 412-317-6745 internationally. The call can also be accessed via a webcast on the company’s website, where an archive will be available for approximately one year. Karat specializes in manufacturing disposable foodservice products used by restaurants across the U.S.
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.