Karat Packaging Reports Fourth Quarter and Full Year 2023 Financial Results [Yahoo! Finance]
Karat Packaging Inc. (KRT)
Company Research
Source: Yahoo! Finance
CHINO, Calif., March 14, 2024 (GLOBE NEWSWIRE) -- Karat Packaging Inc. (Nasdaq: KRT) (“Karat” or the “Company”), a specialty distributor and manufacturer of environmentally friendly, disposable foodservice products and related items, today announced financial results for its fourth quarter and full year ended December 31, 2023. Fourth Quarter Highlights Fourth quarter 2023 financial results included: Change of estimate on import duty reserve totaling $2.3 million, an increase to cost of goods sold. Write-off of $1.1 million of a vendor prepayment upon the resolution of a legal contingency, an increase to general and administrative expenses. Out-of-period tax adjustment of $0.3 million, an increase to provision for income taxes. Misclassification adjustments for the full year amounts within the income statement with no impact on net income: Adjustment of $6.4 million online sales platform fees, an increase to net sales, offset by the same increase to selling expenses.
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News
- Karat Packaging to Report 2024 First Quarter Financial Results and Host Conference Call on Thursday, May 9, 2024 [Yahoo! Finance]Yahoo! Finance
- Karat Packaging to Report 2024 First Quarter Financial Results and Host Conference Call on Thursday, May 9, 2024GlobeNewswire
- What Is Karat Packaging Inc.'s (NASDAQ:KRT) Share Price Doing? [Yahoo! Finance]Yahoo! Finance
- Plastic Cutlery Market Demand Embellished from Fast Food Service Industry: Expected to Reach at a US$ 1.9 Billion by 2034, with a CAGR of 2.80% | Future Market Insights Inc. [Yahoo! Finance]Yahoo! Finance
- Karat Packaging Inc. (NASDAQ: KRT) had its "buy" rating re-affirmed by analysts at Stifel Nicolaus. They now have a $32.00 price target on the stock, up previously from $30.00.MarketBeat
KRT
Earnings
- 3/14/24 - Miss
KRT
Sec Filings
- 4/26/24 - Form ARS
- 4/26/24 - Form DEF
- 3/15/24 - Form 10-K
- KRT's page on the SEC website