Karat Packaging Q3 net sales $112.8M (+6.9%), net income $9.3M, dividend raised to $0.40

Karat Packaging Inc.

2024-Q3 EPS reported $1.21 revenue$320,984,000

Net sales $112.8M (+6.9% YoY); gross margin 38.6% (+170 bps); net income $9.3M (+1.3%).
Adjusted EBITDA $14.7M (margin 13.0%) vs $15.2M (14.4%) prior year; adj. EPS $0.47.
Quarterly dividend raised to $0.40/share from $0.35; payable Nov 29 to holders of record Nov 20.
Q4 guidance: net sales growth mid-to-high single %; gross margin 39-40%.
Volume up ~10%, new supermarket chain shipments of bakery containers and utensils.

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