Karat Packaging Inc reports results for the quarter ended June 30 - Earnings Summary

• Karat Packaging Inc KRT.OQ reported quarterly adjusted earnings of 57 cents​​ per share for the quarter ended June 30, higher than the same quarter last year, when the company reported EPS of 49 cents. The mean expectation of two analysts for the quarter was for earnings of 60 cents per share.

• Revenue rose 10.1% to $123.99 million from a year ago; analysts expected $123.50 million.

• Karat Packaging Inc's reported EPS for the quarter was 54 cents​.

• The company reported quarterly net income of $10.93 million.

• Karat Packaging Inc shares had fallen by 4.3% this quarter and lost 10.9% so far this year.

FORECAST CHANGES

• The mean earnings estimate of analysts had risen by about 12.1% in the last three months.​

• In the last 30 days, one analyst negatively revised an earnings estimate

RECOMMENDATIONS

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 1 "strong buy" or "buy," 1 "hold" and no "sell" or "strong sell." The average consensus recommendation for the non-paper containers & packaging peer group is also "buy"

• Wall Street's median 12-month price target for Karat Packaging Inc is $35.00, about 23.6% above its last closing price of $26.74

This summary was machine generated from LSEG data August 8 at 04:09 a.m. UTC. ​All figures in US dollars unless otherwise stated. (For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com)