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) announced the resignation of CFO Ann T. Sabahat, effective October 8, 2021, due to personal reasons. The board appointed Peter Lee as interim CFO starting the same day, while a search for a permanent replacement is underway. Peter Lee, a CPA with over 20 years of experience, has previously held this role and is well-acquainted with the company, promising a smooth transition. CEO Alan Yu expressed gratitude for Sabahat's service and confidence in Lee's capabilities to lead the financial department during this transition.
Karat Packaging (KRT) reported its Q2 2021 financial results, highlighting net sales of $94.5 million, an 11.6% increase year-over-year, and an impressive 69.4% increase excluding PPE sales from last year. Gross profit decreased to $28.1 million with a gross margin of 29.7%. Despite challenges from rising material and shipping costs, the company anticipates Q3 net sales between $100 million and $102 million. Net income for Q2 was $9.3 million, down from $9.9 million a year prior, with an adjusted EBITDA of $10.1 million, also down from last year.
Karat Packaging Inc. (KRT) will announce its 2021 second quarter financial results after market close on August 12, 2021. An investor conference call is scheduled for the same day at 2:00 p.m. PT/5:00 p.m. ET. The company specializes in environmentally friendly disposable foodservice products, offering a range of items from containers to cutlery, primarily serving restaurants across the U.S. The eco-friendly Karat Earth® line is made from renewable resources, and the company provides customized solutions including product development and logistics services.
Karat Packaging Inc. (Nasdaq: KRT) announced that CEO Alan Yu will present at the Stifel Virtual Cross Sector Insight Conference on June 10, 2021, at 12:40 p.m. ET. Investors can access the live presentation through the company’s website or directly via the conference link. Karat Packaging specializes in environmentally friendly disposable foodservice products, serving national and regional restaurants across the U.S. The company’s eco-friendly product line includes food containers, bags, tableware, and custom solutions.
Karat Packaging Inc. (Nasdaq: KRT) anticipates net sales between $92 million and $94 million for Q2 2021, driven by increased demand and price adjustments. The company specializes in eco-friendly disposable foodservice products widely used by restaurants across the U.S. Its product range includes containers, tableware, and other related items. Karat’s commitment to sustainable practices is evident in its Karat Earth® line, which emphasizes renewable resources. The press release also includes cautionary statements regarding forward-looking projections.
Karat Packaging Inc. (Nasdaq: KRT) announced its Q1 2021 financial results, reporting net sales of $75.7 million, a growth of 18.1% from $64.1 million year-over-year. Gross profit rose 20.9% to $21.6 million, resulting in a gross margin of 28.6%. Despite supply chain disruptions and increased costs, the company’s online sales and new customer acquisitions contributed to growth. Operating expenses increased 29.4% to $17.9 million, influencing operating income to decrease to $3.8 million. Net income rose to $3.1 million, with adjusted EBITDA at $6.8 million. The company completed the acquisition of Pacific Cup, strengthening its distribution network.
Karat Packaging, a distributor and manufacturer of eco-friendly foodservice products, will have its CEO, Alan Yu, present at the William Blair 41st Annual Growth Stock Conference on June 3, 2021, at 3:40 p.m. ET. The presentation can be viewed live on their website or through the provided link. Karat specializes in disposable items like food containers and cutlery, focusing on sustainable solutions. They also offer custom product development and logistics services. The event includes one-on-one investor meetings.
Karat Packaging Inc. (KRT) has announced it will release its 2021 Q1 financial results after market close on May 27, 2021. The Company, a distributor and manufacturer of eco-friendly disposable foodservice products, recently completed its IPO on April 19, 2021. In compliance with SEC regulations, the first quarterly report is due within 45 days post-IPO. The Company also plans to host an investor conference call on the same day at 2:00 p.m. PT/5:00 p.m. ET, with a replay available until June 3, 2021.
Karat Packaging announced the full exercise of an underwriters' option to purchase an additional 592,500 shares at $16.00 per share from its IPO, generating approximately $9.5 million in gross proceeds. The initial IPO of 3,950,000 shares occurred on April 19, 2021, with this over-allotment closing on April 23, 2021. The offering was managed by Stifel, William Blair, and Truist Securities. The SEC approved the registration statement on April 14, 2021. Karat specializes in environmentally friendly disposable foodservice products.
Karat Packaging Inc. (Nasdaq: KRT) has completed its initial public offering (IPO) of 3,950,000 shares at $16.00 each, raising approximately $63.2 million before expenses. The shares began trading on April 15, 2021. The company plans to use about $30 million of the proceeds to pay down existing debt, with remaining funds allocated for general corporate purposes, which may include expansions and acquisitions. Stifel, William Blair, and Truist Securities acted as lead managers for the offering.