Earnings Per Share (Tables)

9 Months Ended

Sep. 30, 2024

Earnings Per Share [Abstract]

Schedule of Earnings Per Share

Basic earnings per share is calculated by dividing the net income attributable to equity holders of the Company for the period by the weighted average number of common shares outstanding during the period.

	Three Months Ended September 30,				Nine Months Ended September 30,
	2024		2023		2024		2023
	(in thousands, except per share data)
Net income attributable to Karat Packaging Inc.	$	9,094	$	9,065	$	24,360	$	28,572
Weighted average number of common shares in issue	20,018		19,891		19,994		19,888
Basic earnings per share	$	0.45	$	0.46	$	1.22	$	1.44

The following table summarizes the calculation of diluted earnings per share:

	Three Months Ended September 30,				Nine Months Ended September 30,
	2024		2023		2024		2023
	(in thousands, except per share data)
Net income attributable to Karat Packaging Inc.	$	9,094	$	9,065	$	24,360	$	28,572
Weighted average number of common shares in issue	20,018		19,891		19,994		19,888
Dilutive shares
Stock options and restricted stock units	116		104		114		75
Adjusted weighted average number of common shares	20,134		19,995		20,108		19,963
Diluted earnings per share	$	0.45	$	0.45	$	1.21	$	1.43