Karat Packaging Inc (OQ:KRT)

Sector:  Basic Materials Industry:  Non-Paper Containers & Packaging
See Regulatory Filings on SEC
Company Contact
Address: 6185 Kimball Avenue
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 a range of disposable foodservice products and related items, primarily used by national and regional restaurants and in foodservice settings across the United States. The Company classifies its customers into four categories. Distributors include national and regional distributors across the United States that purchase its products and provide a channel to offer its products to restaurants, offices, schools, government entities and other end users. National and regional chains include typically fast casual and fast-food restaurants with locations across multiple states. Retail includes primarily regional bubble tea shops, boutique coffee shops and frozen yogurt shops that often purchase its specialty beverage ingredients and related items. E-commerce/Online includes small businesses, such as small restaurants, bubble tea shops, coffee shops, juice bars, smoothie shops and some customers who purchase for personal use.
Financial Overview
For the three months ended 31 March 2024, Karat Packaging Inc revenues decreased less than 1% to $95.6M. Net income decreased 32% to $6.2M. Revenues reflect market conditions. Net income was partially offset by Selling expenses increase of 24% to $10.8M (expense), Interest expense increase of 29% to $524K (expense). Dividend per share totaled to $0.30. Basic Earnings per Share excluding Extraordinary Items decreased from $0.45 to $0.31.
Employees: 778 as of Dec 31, 2023
Reporting Currency: U.S. Dollars
Enterprise value: $572.48M as of Mar 31, 2024
Annual revenue (TTM): $405.46M as of Mar 31, 2024
EBITDA (TTM): $54.35M as of Mar 31, 2024
Net annual income (TTM): $29.63M as of Mar 31, 2024
Free cash flow (TTM): $46.14M as of Mar 31, 2024
Net Debt Last Fiscal Year: $2.60M as of Mar 31, 2024
Shares outstanding: 19,975,032 as of May 6, 2024
TTM: Trailing Twelve Months
EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization

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