Karat Packaging Reports 2024 Third Quarter Financial Results
Karat Packaging Inc. (KRT)
Company Research
Source: GlobeNewswire
CHINO, Calif., Nov. 07, 2024 (GLOBE NEWSWIRE) -- Karat Packaging Inc. (Nasdaq: KRT) (“Karat” or the “Company”), a specialty distributor and manufacturer of environmentally friendly, disposable foodservice products and related items, today announced financial results for its 2024 third quarter ended September 30, 2024. Third Quarter 2024 Highlights Net sales of $112.8 million, up 6.9 percent from the prior-year quarter.Gross profit of $43.5 million, up 11.7 percent from prior-year quarter.Gross margin of 38.6 percent versus 36.9 percent in the prior-year quarter.Net income of $9.3 million, up 1.3 percent from the prior-year quarter.Net income margin of 8.2 percent versus 8.7 percent in the prior-year quarter.Adjusted EBITDA of $14.7 million versus $15.2 million in the prior-year quarter.Adjusted EBITDA margin of 13.0 percent versus 14.4 percent in the prior-year quarter. Guidance Net sales for the 2024 fourth quarter expected to increase by mid to high sin
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KRT
News
- Karat Packaging Inc. (NASDAQ: KRT) had its price target raised by analysts at Stifel Nicolaus from $32.00 to $36.00. They now have a "buy" rating on the stock.MarketBeat
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KRT
Earnings
- 11/7/24 - Miss
KRT
Analyst Actions
- 12/11/24 - Stifel
KRT
Sec Filings
- 11/20/24 - Form 4
- 11/8/24 - Form 10-Q
- 11/7/24 - Form 8-K
- KRT's page on the SEC website