secwatch.observer — SEC 8-K summary
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Issuer:     Karat Packaging Inc. (KRT)
CIK:        0001758021
Form:       8-K
Filed at:   2023-08-09T23:59:59+00:00
Accession:  0001628280-23-028583
Event type: earnings
Sentiment:  positive
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Karat Packaging Q2 net sales down 5.3% to $108.7M, gross margin expands to 38.5%; declares special $0.40 dividend
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- 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%.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1758021/000162828023028583/0001628280-23-028583-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1758021/000162828023028583/krt-20230809.htm
  HTML page:      https://secwatch.observer/filing/0001628280-23-028583

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer