Karat Packaging shares are trading lower after the company reported mixed Q4 financial results.
$KRT
Plastic Products
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Karat Packaging shares are trading lower after the company reported mixed Q4 financial results.
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| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 8/9/2024 | $34.00 → $28.00 | Buy → Hold | Truist |
| 1/4/2023 | $22.00 | Buy | Lake Street |
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 pe
CHINO, Calif., Oct. 24, 2024 (GLOBE NEWSWIRE) -- Karat Packaging Inc. ("Karat" or the "Company") (NASDAQ:KRT), a specialty distributor and manufacturer of environmentally friendly, disposable foodservice products and related items, today announced it will release its 2024 third quarter financial results after market close on Thursday, November 7, 2024. The Company will host an investor conference call on the same day. Call Date: Thursday, November 7, 2024Time: 2:00 p.m. PT/5:00 p.m. ETPhone: 646-307-1963 (domestic); 800-715-9871 (international)Conference ID: 1191729Webcast: Accessible at https://irkarat.com/events-presentations/; archive available for approximately one year About Kar
CHINO, Calif., Aug. 08, 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 second quarter ended June 30, 2024. Second Quarter 2024 Highlights Net sales of $112.6 million, versus $108.7 million in the prior-year quarter.Gross profit of $43.4 million, versus $41.9 million in the prior-year quarter.Gross margin of 38.5 percent, equal to that of the prior-year quarter.Net income of $9.2 million, versus $10.7 million in the prior-year quarter.Net income margin of 8.2 percent, vers
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Karat Packaging (NASDAQ:KRT) reported quarterly earnings of $0.40 per share which missed the analyst consensus estimate of $0.45 by 11.11 percent. This is a 13.04 percent decrease over earnings of $0.46 per share from the same period last year. The company reported quarterly sales of $95.613 million which missed the analyst consensus estimate of $99.817 million by 4.21 percent. This is a 0.20 percent decrease over sales of $95.801 million the same period last year.
Truist downgraded Karat Packaging from Buy to Hold and set a new price target of $28.00 from $34.00 previously
Lake Street initiated coverage of Karat Packaging with a rating of Buy and set a new price target of $22.00
William Blair initiated coverage of Karat Packaging with a rating of Outperform
10-Q - Karat Packaging Inc. (0001758021) (Filer)
8-K - Karat Packaging Inc. (0001758021) (Filer)
8-K - Karat Packaging Inc. (0001758021) (Filer)
4 - Karat Packaging Inc. (0001758021) (Issuer)
4 - Karat Packaging Inc. (0001758021) (Issuer)
4 - Karat Packaging Inc. (0001758021) (Issuer)
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 pe
CHINO, Calif., Oct. 24, 2024 (GLOBE NEWSWIRE) -- Karat Packaging Inc. ("Karat" or the "Company") (NASDAQ:KRT), a specialty distributor and manufacturer of environmentally friendly, disposable foodservice products and related items, today announced it will release its 2024 third quarter financial results after market close on Thursday, November 7, 2024. The Company will host an investor conference call on the same day. Call Date: Thursday, November 7, 2024Time: 2:00 p.m. PT/5:00 p.m. ETPhone: 646-307-1963 (domestic); 800-715-9871 (international)Conference ID: 1191729Webcast: Accessible at https://irkarat.com/events-presentations/; archive available for approximately one year About Kar
CHINO, Calif., Aug. 28, 2024 (GLOBE NEWSWIRE) -- Karat Packaging Inc. (NASDAQ:KRT), a specialty distributor and manufacturer of disposable foodservice products and related items, today announced that Alan Yu, its chief executive officer, and Jian Guo, its chief financial officer, will participate at Lake Street Capital Market's 8th Annual Best Ideas Growth (BIG8) Conference in New York, on September 12, 2024. Management will conduct one-on-one meetings with investors during the conference. To receive additional information, request an invitation or to schedule a one-on-one meeting, please contact a representative at Lake Street Capital Markets. About Karat Packaging Inc. Karat Packagin
SC 13D/A - Karat Packaging Inc. (0001758021) (Subject)
SC 13D/A - Karat Packaging Inc. (0001758021) (Subject)
SC 13D/A - Karat Packaging Inc. (0001758021) (Subject)
CHINO, Calif., Sept. 05, 2023 (GLOBE NEWSWIRE) -- Karat Packaging Inc. (NASDAQ:KRT) (the "Company" or "Karat"), a specialty distributor and manufacturer of disposable foodservice products and related items, today announced the appointment of its Chief Financial Officer, Jian Guo, to the board of directors, effective immediately, filling a vacant seat. Ms. Guo will continue in her role as Chief Financial Officer. Ms. Guo joined Karat in February 2022 with deep experience in the public company marketplace. Previously, she was senior vice president and corporate controller at Resources Connection, Inc., a Nasdaq-listed global consulting firm, and was senior director, financial reporting, at
CHINO, Calif., Aug. 31, 2023 (GLOBE NEWSWIRE) -- Karat Packaging Inc. (NASDAQ:KRT) (the "Company" or "Karat"), a specialty distributor and manufacturer of disposable foodservice products and related items, today announced that its Chief Operating Officer, Joanne Wang, will retire as an officer effective December 1, 2023. Wang also will relinquish her seat on the Company's five-person board, which will remain vacant until a successor is appointed. "Joanne was among Karat's first employees and played an instrumental role in the Company's growth and development over the past twenty-plus years," said Alan Yu, Chief Executive Officer. "Joanne's dedication, mentorship, and distinguished contrib
CHINO, Calif., Feb. 01, 2022 (GLOBE NEWSWIRE) -- Karat Packaging Inc. (NASDAQ:KRT), a specialty distributor and manufacturer of environmentally friendly, disposable foodservice products and related items, today announced the appointment of Jian Guo as chief financial officer, effective immediately. Ms. Guo succeeds Peter Lee, who has served as interim CFO since October 2021, and will stay on through March 31, 2022, as an advisor to the company to ensure an orderly transition. Prior to joining Karat Packaging, Ms. Guo was senior vice president and corporate controller at Resources Connection, Inc., a Nasdaq-listed global consulting firm, and was senior director, financial reporting at Newe