Karat Sees Q3 2023 Net Sales To Decrease 3%-4%
Portfolio Pulse from Benzinga Newsdesk
Karat predicts a decrease in net sales for Q3 2023 by 3-4% due to implementation delays and lower revenue from logistics services and shipping fees. However, Q4 2023 sales are expected to increase by 10-15%. The full year 2023 sales are expected to decrease by low single digits. The company aims for a gross margin of 36-37% and eco-friendly product sales to constitute 35% of total sales.
August 09, 2023 | 8:15 pm
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NEUTRAL IMPACT
Karat's Q3 2023 net sales are expected to decrease, which could negatively impact the stock. However, the projected increase in Q4 sales and the company's eco-friendly product sales goal could potentially offset this.
The projected decrease in Q3 2023 sales could negatively impact Karat's stock. However, the expected increase in Q4 sales and the company's focus on eco-friendly products could potentially offset this negative impact.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 100