Karat Packaging Inc KRT.OQ reported quarterly adjusted earnings of 49 cents per share for the quarter ended in June, lower than the same quarter last year, when the company reported EPS of 69 cents. The mean expectation of four analysts for the quarter was for earnings of 60 cents per share. Wall Street expected results to range from 55 cents to 64 cents per share.
Revenue rose 3.5% to $112.60 million from a year ago; analysts expected $113.90 million.
Karat Packaging Inc's reported EPS for the quarter was 45 cents.
The company reported quarterly income of $9.1 million.
Karat Packaging Inc shares had fallen by 5.4% this quarter and gained 12.6% so far this year.
FORECAST CHANGES
The mean earnings estimate of analysts was unchanged in the last three months.
In the last 30 days, there have been earnings estimate revisions by analysts covering the company.
RECOMMENDATIONS
The current average analyst rating on the shares is "strong buy" and the breakdown of recommendations is 4 "strong buy" or "buy," "hold" and "sell" or "strong sell."
The average consensus recommendation for the -paper containers & packaging peer group is "buy."
Wall Street's median 12-month price target for Karat Packaging Inc is $34.00
This summary was machine generated from LSEG data August 9 at 10:56 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)
QUARTER ENDING |
ESTIMATE |
ACTUAL |
BEAT, MET, MISSED |
Jun. 30 2024 |
0.60 |
0.49 |
Missed |
Mar. 31 2024 |
0.45 |
0.40 |
Missed |
Dec. 31 2023 |
0.41 |
0.24 |
Missed |
Sep. 30 2023 |
0.44 |
0.47 |
Beat |