Karat Packaging Inc reports results for the quarter ended in December - Earnings Summary

Karat Packaging

14/03/2024 22:36

* Karat Packaging Inc  KRT.OQ  reported quarterly adjusted
earnings of 24 cents​​ per share for the quarter ended in
December, lower than the same quarter last year, when the
company reported EPS of 30 cents.  The mean expectation of
four analysts for the quarter was for earnings of 41 cents per
share. Wall Street expected results to range from 32 cents to 50
cents per share.
    * Revenue rose 3.1% to $95.58 million from a year ago;
analysts
expected $95.48 million. 
    * Karat Packaging Inc's reported EPS for the quarter was 19
cents​.
    * The company reported quarterly net income of $3.9 million.
    * Karat Packaging Inc shares had risen by 18.3% this
quarter.

FORECAST CHANGES
    * The mean earnings estimate of analysts was unchanged in
the last
three months.​ 
    * In the last 30 days, there have been no earnings estimate
revisions by analysts covering the company.

RECOMMENDATIONS
    * The current average analyst rating on the shares is
"strong buy"
and the breakdown of recommendations is 4 "strong buy" or
"buy," no "hold" and no "sell" or "strong sell." 
    * The average consensus recommendation for the non-paper
containers & packaging peer group is  "buy."

Wall Street's median 12-month price target for Karat Packaging
Inc is $26.00 
This summary was machine generated from LSEG data March 14 at
10:35 p.m. UTC. ​All figures in US dollars unless otherwise
stated. (For questions concerning the data in this report,
contact Estimates.Support@lseg.com. For any other questions or
feedback, contact RefinitivNewsSupport@thomsonreuters.com) QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Dec. 31 2023      0.41           0.24           Missed
 Sep. 30 2023      0.44           0.47           Beat
 Jun. 30 2023      0.31           0.69           Beat
 Mar. 31 2023      0.31           0.46           Beat