Karat Packaging reports Q3 EPS 45c, consensus 51c

Reports Q3 revenue $112.8M, consensus $112.93M. “Karat performed well in the third quarter, with net sales up nearly 7% and volume up approximately 10%, despite some pricing pressure,” said Alan Yu, CEO. “We experienced growth in most of our sales channels, paced by our online business, reflecting enhanced inventory management and marketing activities. Our cash flows from operations continued to be strong, totaling $19.5M during the third quarter, and our board of directors have again approved an increase of our regular dividend to 40c per share from 35c per share. We remain committed to a balanced capital allocation strategy between shareholder return and long-term growth investments.”