Karat Packaging Inc (OQ:KRT)

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

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