Karat Packaging Earnings Reports

Karat Packaging posted net sales of $101.6 million, a 6.3% increase year-over-year. Adjusted EBITDA rose to $11.3 million, representing an adjusted EBITDA margin of 11.1%. Net income improved significantly by 40.3% to $5.9 million. The company continues to expand its eco-friendly product lines, which contributed 35% of total sales.

Karat Packaging Inc. reported a 6.9% increase in net sales, reaching $112.8 million, and an 11.7% increase in gross profit, totaling $43.5 million for the third quarter of 2024. Net income rose slightly to $9.3 million, while adjusted EBITDA amounted to $14.7 million. The company also announced an increase in its quarterly cash dividend to $0.40 per share.

Karat Packaging Inc. reported a 3.5% increase in net sales to $112.6 million and a 3.7% increase in gross profit to $43.4 million for the second quarter of 2024. However, net income decreased to $9.2 million from $10.7 million in the prior-year quarter, and adjusted EBITDA decreased to $15.7 million from $21.1 million in the prior-year quarter. The company's gross margin remained steady at 38.5%.

Karat Packaging reported a slight decrease in net sales, from $95.8 million to $95.6 million, and a decrease in net income from $9.2 million to $6.5 million for the first quarter of 2024. However, sales of eco-friendly products increased by 5.6% and now represent 34.5% of total sales.

Karat Packaging Inc. reported a 3.1% increase in net sales to $95.6 million for Q4 2023, driven by volume growth, though offset by pricing comparisons. Gross profit increased by 14.9% to $34.1 million, with gross margin expanding to 35.7%. Net income was $4.2 million, slightly down from $4.5 million in the prior-year quarter, with adjusted EBITDA at $8.6 million.

Karat Packaging reported a 4.1% decrease in net sales to $105.5 million, but net income increased by 48.5% to $9.1 million. The increase in net income was driven by a 14.0% increase in gross profit to $38.9 million and margin expansion.

Karat Packaging reported a decrease in net sales by 5.3% to $108.7 million, but experienced a significant increase in gross profit by 23.3% to $41.9 million and net income by 48.3% to $10.7 million. The company's gross margin improved to 38.5%, and adjusted EBITDA increased by 78.6% to $21.1 million.

Karat Packaging reported a decrease in net sales by 9.1% to $95.8 million, but gross profit increased by 12.2% to $38.1 million. Net income also increased by 15.6% to $9.2 million, with a record gross margin of 39.8%.

Karat Packaging reported a 1.5% increase in net sales for Q4 2022, reaching $92.7 million. The gross margin improved by 100 basis points to 32.0%, although net income decreased to $4.5 million due to higher operating expenses and an inventory write-off. The company is focused on growth strategies, including expanding warehouses and increasing its sales team.

Karat Packaging Inc. reported a 7.1% increase in net sales, reaching $110.0 million for the third quarter of 2022. The company experienced a 14.7% increase in gross profit, with a gross margin of 31.1%. Net income rose by 51.1% to $6.2 million, and the company achieved a record quarterly operating cash flow of $20.2 million.

Karat Packaging reported a strong second quarter with record net sales of $114.9 million, a 21.5% increase year-over-year, and a gross profit increase of 20.9% to $34.0 million. Net income was $7.2 million, compared to $9.3 million in the prior-year quarter which included a $5 million gain on forgiveness of debt.

Karat Packaging Inc. reported a strong first quarter in 2022, with record quarterly net sales of $105.4 million, a 39.3% increase from the prior-year quarter, and net income more than doubled. Gross profit increased by 58.6% to $34.3 million, and gross margin improved to 32.5%.

Karat Packaging, Inc. reported strong Q4 2021 results with a 30% increase in net sales to $91.3 million and a gross margin increase of 360 basis points to 31%. The company achieved $10.9 million in adjusted EBITDA, representing an 11.9% adjusted EBITDA margin. Looking ahead, Karat Packaging is targeting net sales for Q1 2022 to be in the range of $101 million to $103 million, and expects full-year 2022 sales to grow 17% to 19% over 2021.