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Karat Packaging Inc (KRT)
NASDAQ:KRT
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Earnings Data
Report Date
Mar 13, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
$0.38Last Year’s EPS
$0.24Same Quarter Last Year
Moderate Buy
Based on 2 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Nov 07, 2024
|% Change Since: 4.03%
|Next Earnings Date:Mar 13, 2025
Earnings Call Sentiment|Positive
The earnings call presented a generally positive outlook with notable revenue and sales growth, especially in eco-friendly and online segments, alongside improvements in gross margin and increased dividends. However, challenges such as pricing pressures in the chain segment and rising operating expenses were highlighted.Company Guidance
During the third quarter of 2024, Karat Packaging, Inc. provided optimistic guidance with net sales increasing by 6.9% to $112.8 million, supported by a nearly 10% growth in sales volume. The company experienced a 33% increase in online business, attributed to the inclusion of $3 million in online platform fees, and saw eco-friendly product sales rise by 9%, now comprising 33.4% of total sales. Despite pricing pressures, Karat achieved a gross margin of 38.6%, up from 36.9% the previous year, and net income increased by 1.3% to $9.3 million. Looking ahead, Karat expects fourth-quarter net sales to grow by mid to high single digits and aims for a gross margin of 39% to 40%, reaffirming its full-year 2024 guidance. The company also highlighted strategic initiatives, including new product launches and expansion into the supermarket chain category, which are expected to contribute to long-term growth.Revenue and Sales Growth
Net sales for the 2024 third quarter were $112.8 million, up 6.9% from the previous year, with a sales volume increase of nearly 10%.
Eco-Friendly Products Expansion
Sales of eco-friendly products increased 9% year-over-year, representing 33.4% of total sales in Q3. Plans to launch a new line of rPET cup and lids by the end of Q4.
Online Sales Surge
Online business saw a 33% increase over the prior year, benefiting from the inclusion of $3 million in online platform fees.
Gross Margin Improvement
Achieved a gross margin of 38.6% in Q3, up from 36.9% in the prior year, despite high ocean freight rates.
Dividend Increase
Board approved an increase in the quarterly cash dividend to $0.40 per share from $0.35, reflecting strong operating cash flow and liquidity.
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KRT Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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KRT Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Nov 07, 2024 | $28.94 | $29.21 | +0.93% |
| Aug 08, 2024 | $27.07 | $23.05 | -14.85% |
| May 09, 2024 | $27.65 | $25.52 | -7.70% |
| Mar 14, 2024 | $27.62 | $24.78 | -10.28% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Karat Packaging Inc (KRT) report earnings?
Karat Packaging Inc (KRT) is schdueled to report earning on Mar 13, 2025, TBA Not Confirmed.
What is Karat Packaging Inc (KRT) earnings time?
Karat Packaging Inc (KRT) earnings time is at Mar 13, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is KRT EPS forecast?
KRT EPS forecast for the fiscal quarter 2024 (Q4) is $0.38.
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