Karat Packaging Q2 revenue up 3.5% to $112.6M; net income down to $9.2M from $10.7M

Karat Packaging Inc.

2024-Q2 EPS reported $0.76 revenue$208,213,000

Net sales $112.6M (+3.5% YoY); gross margin stable at 38.5%.
Net income $9.2M ($0.45 diluted EPS) vs $10.7M ($0.53) a year ago.
Adjusted EBITDA $15.7M (13.9% margin) vs $21.1M (19.4%) prior-year quarter.
Q3 2024 guidance: net sales mid-to-high single-digit growth; gross margin 38-39%.
Board approved $0.35 regular + $0.15 special cash dividend, payable Aug 30 to holders of record Aug 21.

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