Karat Packaging Inc. is a leading provider of disposable food service products, specializing in the manufacturing and distribution of high-quality sustainable packaging solutions. The company caters to a diverse array of businesses, including restaurants, catering services, and food delivery companies, by offering a wide range of items such as cups, containers, utensils, and other disposable products designed for convenience and eco-friendliness. Karat focuses on innovation and sustainability, emphasizing environmentally responsible practices while maintaining high standards of quality and functionality in its product offerings.
Even though Karat Packaging (currently trading at $30.89 per share) has gained 8.9% over the last six months, it has lagged the S&P 500’s 14% return during that period. This was partly due to its softer quarterly results and may have investors wondering how to approach the situation.
Earnings results often indicate what direction a company will take in the months ahead. With Q3 behind us, let’s have a look at Titan Machinery (NASDAQ:TITN) and its peers.
Wrapping up Q3 earnings, we look at the numbers and key takeaways for the specialty equipment distributors stocks, including Custom Truck One Source (NYSE:CTOS) and its peers.
As the Q3 earnings season comes to a close, it’s time to take stock of this quarter’s best and worst performers in the specialty equipment distributors industry, including Karat Packaging (NASDAQ:KRT) and its peers.
Foodservice packaging supplier Karat Packaging (NASDAQ:KRT) met Wall Street’s revenue expectations in Q3 CY2024, with sales up 6.9% year on year to $112.8 million. Its non-GAAP profit of $0.47 per share was 4.1% below analysts’ consensus estimates.
CHINO, Calif., Nov. 07, 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 2024 third quarter ended September 30, 2024.
CHINO, Calif., Nov. 06, 2024 (GLOBE NEWSWIRE) -- Karat Packaging Inc. (Nasdaq: KRT) (the “Company” or “Karat”), a specialty distributor and manufacturer of disposable foodservice products and related items, today announced that its board of directors approved the payment of a regular quarterly dividend of $0.40 per share on the Company’s common stock, reflecting an increase from the previous quarterly dividend of $0.35 per share.
CHINO, Calif., Oct. 24, 2024 (GLOBE NEWSWIRE) -- Karat Packaging Inc. (“Karat” or the “Company”) (Nasdaq: KRT), a specialty distributor and manufacturer of environmentally friendly, disposable foodservice products and related items, today announced it will release its 2024 third quarter financial results after market close on Thursday, November 7, 2024. The Company will host an investor conference call on the same day.
CHINO, Calif., Aug. 28, 2024 (GLOBE NEWSWIRE) -- Karat Packaging Inc. (Nasdaq: KRT), a specialty distributor and manufacturer of disposable foodservice products and related items, today announced that Alan Yu, its chief executive officer, and Jian Guo, its chief financial officer, will participate at Lake Street Capital Market’s 8th Annual Best Ideas Growth (BIG8) Conference in New York, on September 12, 2024. Management will conduct one-on-one meetings with investors during the conference.
CHINO, Calif., Aug. 08, 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 2024 second quarter ended June 30, 2024.
CHINO, Calif., Aug. 07, 2024 (GLOBE NEWSWIRE) -- Karat Packaging Inc. (Nasdaq: KRT) (the “Company” or “Karat”), a specialty distributor and manufacturer of disposable foodservice products and related items, today announced that its board of directors has approved payment of a regular quarterly cash dividend of $0.35 per share. The board also declared a special cash dividend of $0.15 per share on the Company’s common stock.
CHINO, Calif., July 25, 2024 (GLOBE NEWSWIRE) -- Karat Packaging Inc. (“Karat” or the “Company”) (Nasdaq: KRT), a specialty distributor and manufacturer of environmentally friendly, disposable foodservice products and related items, today announced it will release its 2024 second quarter financial results after market close on Thursday, August 8, 2024. The Company will host an investor conference call on the same day.
PALM BEACH, Fla., July 17, 2024 (GLOBE NEWSWIRE) -- - FinancialNewsMedia.com News Commentary - The consumer packaged goods (CPG) market is projected to grow at a significant rate due to the rising population rate and increasing consumer awareness. Consumer packaged goods (CPG) are daily-use items that are consumed or used in some form by the average general population. These products have to be regularly replaced with new stocks and include items such as household commodities, food & beverages, makeup & personal care products, clothes, and other essentials. The CPG industry is one of the most competitive industries globally. The products appear as simple everyday items but the extensive number of players and the large chain of products offered by them has intensified market competitiveness. A report from Zion Market Research projected that the global consumer packaged goods (CPG) market size, which was worth around USD 160.75 billion in 2022, is predicted to grow to around USD 244.92 billion by 2030 with a compound annual growth rate (CAGR) of roughly 5.40% between 2023 and 2030. The report said: “Another key aspect of the industry is that the purchase cost per item is relatively low however, the investment cost is higher since consumer packaged goods are produced in bulk and are highly vulnerable to damage if they are stored under the wrong conditions. As opposed to durable goods, consumer packaged goods have a limited lifespan and must be used within their recommended shelf life to avoid being discarded without use. The rising population rate has further amplified the demand for CPG along with other factors.” Active Companies in the industry includes: Nightfood Holdings Inc. (OTCQB: NGTF), Graphic Packaging Holding Company (NYSE: GPK), Crown Holdings, Inc. (NYSE: CCK), Karat Packaging Inc. (NASDAQ: KRT), Packaging Corporation of America (NYSE: PKG).
