Karat Packaging Inc. (KRT) Misses Q4 EPS by 15c; offers guidance

Karat Packaging Inc. (NASDAQ: KRT) reported Q4 EPS of $0.24, $0.15 worse than the analyst estimate of $0.39. Revenue for the quarter came in at $95.58 million versus the consensus estimate of $95.49 million.

GUIDANCE

Net sales for the 2024 first quarter expected to increase low to mid-single digit from the prior-year quarter.
Gross margin goal for the 2024 first quarter: 37 to 39 percent versus 39.8 percent for 2023 first quarter.
Net sales for full year 2024 expected to increase 8 to 15 percent from the prior year.
Gross margin goal for full year 2024: 35 to 38 percent assuming no significant increases in ocean freight rates.

For earnings history and earnings-related data on Karat Packaging Inc. (KRT) click here.

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