---
schema_version: "secwatch.filing_event.v1"
accession: "0001628280-23-038255"
form_type: "8-K"
ticker: "KRT"
cik: "0001758021"
company_name: "Karat Packaging Inc."
filed_at: "2023-11-09T23:59:59+00:00"
generated_at: "2026-06-08T07:12:06.922853+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Karat Packaging Q3 net income up 48.5%; dividend doubled to $0.20/share

## Summary
- Net sales $105.5M (-4.1% YoY); net income $9.1M (+48.5%); diluted EPS $0.45 vs $0.31.
- Gross margin 36.9% vs 31.1% (+580 bps); ocean freight cost dropped to 7.9% of sales from 14.8%.
- Adjusted EBITDA $15.2M (+29.6%); margin 14.4% vs 10.7%.
- Board increased quarterly cash dividend to $0.20 per share (100% increase).
- Q4 net sales guided +2-5% YoY; full-year gross margin target 37.5%-38.5%.

## SEC filing metadata
- accession: 0001628280-23-038255
- form_type: 8-K
- ticker: KRT
- cik: 0001758021
- company_name: Karat Packaging Inc.
- filed_at: 2023-11-09T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1758021/000162828023038255/0001628280-23-038255-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1758021/000162828023038255/krt-20231109.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001628280-23-038255
- JSON: https://secwatch.observer/filing/0001628280-23-038255.json
- Plain text: https://secwatch.observer/filing/0001628280-23-038255.txt

## Key facts
- Earnings Releases
  Karat Packaging Inc. reported third quarter ended September 30, 2023 results: revenue $105.5 million, net income $9.1 million, EPS $0.45 per diluted share. Guidance reaffirmed.
  - Period: third quarter ended September 30, 2023
  - Revenue: $105.5 million
  - Net income: $9.1 million
  - EPS: $0.45 per diluted share
  - Guidance: reaffirmed
  - Result: reported results
  source text: and related items, today announced financial results for its third quarter and nine-months ended September 30, 2023. Third Quarter 2023 Highlights • Quarterly net sales of $105.5 million, down 4.1 percent from the prior year quarter. • Gross profit of $38.9 million, up 14.0 percent from the prior year quarter. • Gross margin of 36.9 percent versus 31.1 percent in
  evidence_url: https://www.sec.gov/Archives/edgar/data/1758021/000162828023038255/0001628280-23-038255-index.htm

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