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Mar 31, 2022
Karat Packaging Q1 2022 Earnings Report
Reported record quarterly revenue and net income more than doubled.
Key Takeaways
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%.
Record quarterly net sales increased by 39.3% year-over-year to $105.4 million.
Gross profit increased by 58.6% year-over-year to $34.3 million.
Gross margin improved by 390 basis points to 32.5%.
Net income more than doubled compared to the prior-year quarter, reaching $7.9 million.
Karat Packaging
Karat Packaging
Karat Packaging Revenue by Segment
Revenue by Segment
Chains and distributors Revenue
CapyFin.comOnline Revenue
CapyFin.comRetail Revenue
CapyFin.com Forward Guidance
The company provided guidance for the second quarter and full year of 2022.
Positive Outlook
- Net sales for the second quarter are expected to be between $116 million and $118 million, up from $94.5 million in the second quarter of 2021.
- Net sales for the full year are projected to be between $445 million and $449 million, compared to $364.2 million in 2021.
- Gross margin goal for the full year is 31% to 32% on average, including the expected impact from freight and duty capitalization for the remainder of 2022.
Revenue & Expenses
Visualization of income flow from segment revenue to net income