Foodservice packaging supplier Karat Packaging (NASDAQ:KRT) will be reporting earnings tomorrow after market hours. Here’s what to expect.
Karat Packaging missed analysts’ revenue expectations by 0.7% last quarter, reporting revenues of $112.8 million, up 6.9% year on year. It was a disappointing quarter for the company, with a significant miss of analysts’ adjusted operating income estimates.
Is Karat Packaging a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting Karat Packaging’s revenue to grow 6.9% year on year to $102.2 million, improving from the 3.1% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.36 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings.
Looking at Karat Packaging’s peers in the specialty equipment distributors segment, some have already reported their Q4 results, giving us a hint as to what we can expect. United Rentals delivered year-on-year revenue growth of 9.8%, beating analysts’ expectations by 3.9%, and SiteOne reported revenues up 5%, topping estimates by 1.3%. United Rentals traded up 2% following the results while SiteOne was also up 5.9%.
Read our full analysis of United Rentals’s results here and SiteOne’s results here.
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