Karat Packaging Q3 net sales $110M; net income up 51% to $6.2M; record operating cash flow

Karat Packaging Inc.

2022-Q3 EPS reported $0.96 revenue$330,290,000

Net sales $110.0M (+7.1% YoY); net income $6.2M (+51.1%); diluted EPS $0.31 vs $0.19.
Gross margin expanded 210 bps to 31.1%; adjusted EBITDA $11.7M (+30.1%), margin 10.7%.
Record quarterly operating cash flow of $20.2M; liquidity $54.5M as of Sept 30.
Q4 2022 revenue guidance $95-98M vs $91.3M in prior-year quarter; full-year gross margin goal 31-32%.
Eco-friendly product sales grew 26.7% in Q3; Joint venture for bagasse production in Taiwan on track.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Karat Packaging Inc. reported the quarter ended September 30, 2022 results: revenue $110.0 million, net income $6.2 million, EPS $0.31 per diluted share.

Period: the quarter ended September 30, 2022
Revenue: $110.0 million
Net income: $6.2 million
EPS: $0.31 per diluted share
Result: reported results

Exact text from the filing

products and related items, today announced financial results for its third quarter and nine-months ended September 30, 2022. Third Quarter 2022 Highlights • Net sales of $110.0 million, up 7.1 percent from the prior-year quarter. • Gross profit of $34.2 million, up 14.7 percent from the prior-year quarter. • Gross margin of 31.1 percent, increased from 29.0

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Source: SEC EDGAR

accession 0001628280-22-029498

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