{"schema_version":"secwatch.filing_event.v1","accession":"0001628280-23-028583","form_type":"8-K","ticker":"KRT","cik":"0001758021","company_name":"Karat Packaging Inc.","filed_at":"2023-08-09T23:59:59+00:00","discovered_at":"2026-05-14T18:03:35.132258+00:00","generated_at":"2026-06-11T22:53:05.925536+00:00","sec_items":["2.02","9.01"],"event_type":"earnings","sentiment":"positive","materiality_score":0.75,"calibrated_materiality_score":0.75,"confidence":"high","headline":"Karat Packaging Q2 net sales down 5.3% to $108.7M, gross margin expands to 38.5%; declares special $0.40 dividend","bullets":["Net sales $108.7M (-5.3% YoY); net income $10.7M (+48.3% YoY); diluted EPS $0.53 vs $0.32.","Gross margin 38.5% vs 29.6% last year; ocean freight costs fell to 6.2% of sales from 18.0%.","Adjusted EBITDA $21.1M (+78.6% YoY); adjusted diluted EPS $0.69 vs $0.34.","Board declared special dividend of $0.40/sh and new quarterly dividend of $0.10/sh, initiating quarterly policy.","Guidance: Q3 net sales expected down 3-4% YoY; Q4 up 10-15%; full-year gross margin goal of 36-37%."],"urls":{"canonical":"https://secwatch.observer/filing/0001628280-23-028583","json":"https://secwatch.observer/filing/0001628280-23-028583.json","markdown":"https://secwatch.observer/filing/0001628280-23-028583.md","text":"https://secwatch.observer/filing/0001628280-23-028583.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1758021/000162828023028583/0001628280-23-028583-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1758021/000162828023028583/krt-20230809.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-11T22:53:05.925536+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"9193d3bd8e7c9bc832eace20b915907b2bf13712","claim":"Karat Packaging Inc. reported the first six months of 2023 results: revenue $204.5 million. Guidance initiated.","evidence_excerpt":"Net sales for the first six months of 2023 decreased 7.2 percent to $204.5 million, from $220.3 million in the same period last year.","evidence_source":"SEC 8-K Item 2.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1758021/000162828023028583/0001628280-23-028583-index.htm","confidence":0.7,"family_label":"Earnings Releases","details":[{"label":"Period","value":"the first six months of 2023"},{"label":"Revenue","value":"$204.5 million"},{"label":"Guidance","value":"initiated"},{"label":"Result","value":"reported results"}],"fact_type":"earnings_release"},{"claim_id":"ff0de40595c39a3b647e054ee84fc09e94d32a2f","claim":"Karat Packaging Inc. reported the quarter ended June 30, 2023 results: revenue $108.7 million, net income $10.7 million, EPS $0.53 per diluted share. Guidance initiated.","evidence_excerpt":"Karat Packaging Inc. (Nasdaq: KRT) (“Karat” or the “Company”), a specialty distributor and manufacturer of environmentally friendly, disposable foodservice products and related items, today announced financial results for its quarter ended June 30, 2023. Second Quarter 2023 Highlights • Quarterly net sales of $108.7 million, down 5.3 percent from the prior-year quarter. • Gross profit of $41.9 million, up 23.3 percent from the prior-year quarter. • Gross margin of 38.5 percent versus 29.6 percent in the prior-year quarter. • Net income of $10.7 million, up 48.3 percent from the prior-year quarter. • Net income margin of 9.8 percent versus 6.3 percent in the prior-year quarter. • Adjusted EBITDA of $21.1 million, up $9.3 million, or 78.6 percent from the prior-year quarter. • Adjusted EBITDA margin of 19.4 percent versus 10.3 percent in the prior-year quarter.","evidence_source":"SEC 8-K Item 2.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1758021/000162828023028583/0001628280-23-028583-index.htm","confidence":0.9,"family_label":"Earnings Releases","details":[{"label":"Period","value":"the quarter ended June 30, 2023"},{"label":"Revenue","value":"$108.7 million"},{"label":"Net income","value":"$10.7 million"},{"label":"EPS","value":"$0.53 per diluted share"},{"label":"Guidance","value":"initiated"},{"label":"Result","value":"reported results"}],"fact_type":"earnings_release"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}