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

Karat Packaging

09/08/2024 11:57

* Karat Packaging Inc  KRT.OQ  reported quarterly adjusted
earnings of 49 cents​​ per share for the quarter ended in June,
lower than the same quarter last year, when the company reported
EPS of 69 cents.  The mean expectation of four analysts for the
quarter was for earnings of 60 cents per share. Wall Street
expected results to range from 55 cents to 64 cents per share.
    * Revenue rose 3.5% to $112.60 million from a year ago;
analysts
expected $113.90 million. 
    * Karat Packaging Inc's reported EPS for the quarter was 45
cents​.
    * The company reported quarterly net income of $9.1 million.
    * Karat Packaging Inc shares had fallen by 5.4% this
quarter and
gained 12.6% so far this year.

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 $34.00 
This summary was machine generated from LSEG data August 9 at
10:56 a.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
 Jun. 30 2024      0.60           0.49           Missed
 Mar. 31 2024      0.45           0.40           Missed
 Dec. 31 2023      0.41           0.24           Missed
 Sep. 30 2023      0.44           0.47           Beat