Karat Packaging Q4 net income $4.2M; full year net income up 28.4%; dividend raised to $0.30

Karat Packaging Inc.

Q4 net sales $95.6M (+3.1% YoY); volume +7.3%; gross margin 35.7% vs 32.0%.
Full year 2023 net income $33.2M (+28.4%), net sales $405.7M (-4.1%).
Quarterly dividend increased to $0.30/share from $0.20, authorized by board.
Guides Q1 2024 net sales low-to-mid single-digit growth; FY24 growth 8-15%, gross margin 35-38%.
Record full year gross margin of 37.7% driven by shift to imports and lower ocean freight.

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. updated its the fourth quarter and full year ended December 31, 2023 guidance (raised).

Period: the fourth quarter and full year ended December 31, 2023
Guidance: raised
Result: reported results

Exact text from the filing

On March 14, 2024, Karat Packaging Inc. (the "Company”) issued a press release reporting its financial results for the fourth quarter and year ended December 31, 2023.

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Karat Packaging Inc. filing history →

Source: SEC EDGAR

accession 0001628280-24-011222

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