---
schema_version: "secwatch.filing_event.v1"
accession: "0001628280-23-017220"
form_type: "8-K"
ticker: "KRT"
cik: "0001758021"
company_name: "Karat Packaging Inc."
filed_at: "2023-05-10T23:59:59+00:00"
generated_at: "2026-06-15T06:46:23.205584+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Karat Packaging Q1 net income up 15.6%, gross margin record 39.8%, special dividend $0.35

## Summary
- Net sales $95.8M (-9.1% YoY); net income $9.2M (+15.6%); diluted EPS $0.45 vs $0.34.
- Record gross margin of 39.8% (up 730bps) on lower ocean freight and raw material costs.
- Adjusted EBITDA $15.3M (+17.6%); adjusted diluted EPS $0.46.
- Board declared special dividend of $0.35/share, payable May 31 to holders of record May 23.
- 2023 guidance: full-year net sales up high single digits; Q2 net sales expected down ~5% YoY.

## SEC filing metadata
- accession: 0001628280-23-017220
- form_type: 8-K
- ticker: KRT
- cik: 0001758021
- company_name: Karat Packaging Inc.
- filed_at: 2023-05-10T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1758021/000162828023017220/0001628280-23-017220-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1758021/000162828023017220/krt-20230510.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001628280-23-017220
- JSON: https://secwatch.observer/filing/0001628280-23-017220.json
- Plain text: https://secwatch.observer/filing/0001628280-23-017220.txt

## Key facts
- Earnings Releases
  Karat Packaging Inc. reported first quarter and three months ended March 31, 2023 results: revenue $95.8 million, net income $9.2 million, EPS $0.45 per diluted share. Guidance reaffirmed.
  - Period: first quarter and three months ended March 31, 2023
  - Revenue: $95.8 million
  - Net income: $9.2 million
  - EPS: $0.45 per diluted share
  - Guidance: reaffirmed
  - Result: reported results
  source text: foodservice products and related items, today announced financial results for its 2023 first quarter ended March 31, 2023. First Quarter 2023 Highlights • Quarterly net sales of $95.8 million, decreased 9.1 percent from the prior-year quarter. • Gross profit of $38.1 million, up 12.2 percent from the prior-year quarter. • Record gross margin of 39.8 percent, an
  evidence_url: https://www.sec.gov/Archives/edgar/data/1758021/000162828023017220/0001628280-23-017220-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.