Sector: Basic Materials | Industry: Non-Paper Containers & Packaging |
See Regulatory Filings on SEC |
Company Contact | |
Address: | 6185 Kimball Ave CHINO CA 91708 |
Tel: | 1-310-2795980 |
Website: | https://karatpackaging.com |
IR: | See website |
Key People | ||
Alan Yu Chairman of the Board, Chief Executive Officer | Jian Guo Chief Financial Officer, Director | Joanne Wang Chief Operating Officer |
Marvin Cheng Vice President - Manufacturing, Secretary | Daniel Quire Chief Revenue Officer |
Business Overview |
Karat Packaging Inc. is a specialty distributor and manufacturer of disposable foodservice products and related items. The Company supplies a range of products for the food service industry, including food and take-out containers, bags, tableware, cups, lids, cutlery, straws, specialty beverage ingredients, equipment, gloves and other products. Its products are available in plastic, paper, biopolymer-based and other compostable forms. Its Karat Earth line includes food containers, tableware, cups, lids, utensils, and straws. The Company offers customized solutions to its customers, including new product development, design, printing, and logistics services. The Company's customers include a variety of national and regional distributors, restaurant chains, retail establishments and online customers. Its customers can order and schedule delivery of products via telephone, facsimile, email or through its online e-commerce platform and its storefronts on Amazon.com and Walmart.com. |
Financial Overview |
For the six months ended 30 June 2023, Karat Packaging Inc revenues decreased 7% to $204.5M. Net income increased 50% to $19.5M. Revenues reflect a decrease in demand for the Company's products and services due to unfavorable market conditions. Net income reflects Other income (expense) decrease of 66% to $90K (expense), Rental income increase of 10% to $522K (income). |
Employees: | 781 as of Dec 31, 2022 |
Reporting Currency: | U.S. Dollars |
Enterprise value: | $441.07M as of Jun 30, 2023 |
Annual revenue (TTM): | $407.20M as of Jun 30, 2023 |
EBITDA (TTM): | $53.57M as of Jun 30, 2023 |
Net annual income (TTM): | $30.14M as of Jun 30, 2023 |
Free cash flow (TTM): | $65.42M as of Jun 30, 2023 |
Net Debt Last Fiscal Year: | $3.81M as of Jun 30, 2023 |
Shares outstanding: | 19,893,846 as of Sep 7, 2023 |
TTM: Trailing Twelve Months EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization |