Karat Packaging Raises Q3 Sales Outlook

Karat Packaging Inc KRT raised its third-quarter net sales outlook of $102 million - $103 million (consensus $101.3 million), compared to $76.3 million in the prior-year period.
The company had earlier expected Q3 sales of $100 million - $102 million.
Karat Packaging also expects 2021 net sales of $365 million - $368 million (consensus $368.04 million), versus $295.5 million for the full year 2020.
"Orders are strong into October, and we expect this to continue throughout the remainder of the year," said CEO Alan Yu.
On Friday, Karat Packaging stated that its finance chief Ann Sabahat has resigned for personal reasons, effective October 8, 2021. Karat's board appointed Peter Lee to serve as its interim CFO until a successor is named.
Karat Packaging will report Q3 financial results on November 8, 2021.
Price Action: KRT shares traded higher by 2.66% at $21.27 on the last check Monday.