Ranpak Holdings Corp Announces Strong Third Quarter Results and Provides Business Update

Today, Ranpak Holdings Corp. (NYSE: PACK) released its financial results for the three- and nine-month periods ending on September 30, 2024, along with key insights shared during its quarterly earnings call. The company reported double-digit top-line growth and Adj EBITDA for the third quarter, marking the fifth consecutive quarter of increasing volumes.

In a notable move, due to a technical glitch during the earnings call, the initial minutes of the broadcast were potentially inaudible for remote listeners. To address this issue, the statements made by the Company’s Chairman and Chief Executive Officer during that portion of the call were reissued and distributed, advising interested parties to read them alongside the earnings release and other SEC filings, including the Form 10-Q for the period ending September 30, 2024.

The CEO highlighted the positive performance observed in the quarter, primarily credited to strategic initiatives in North America and notable growth in the Europe/APAC reporting unit. Despite the success in North American sales, there were acknowledgments of a cautious global environment, characterized by unevenness in Europe and APAC. Factors such as varying industrial activities and sluggishness in sectors like housing were outlined as market challenges impacting overall performance.

Additionally, the company disclosed forward-looking statements in compliance with the Securities Exchange Act of 1934. These statements incorporated expectations, hopes, strategies, and beliefs regarding future performance and growth prospects. Ranpak recognized the risks and uncertainties that might affect the accuracy of these statements, including supply chain constraints, geopolitical tensions, market competition, and evolving consumer preferences.

The filing underlines the importance of non-GAAP financial measures like Adjusted EBITDA and constant currency net revenue growth in providing a comprehensive view of the company’s financial standing. Investors and stakeholders were encouraged to refer to the company’s earnings release filing on Form 8-K dated October 31, 2024, for detailed explanations of these metrics.

Ranpak ended the announcement with the submission of a Cover Page Interactive Data File as an exhibit, incorporating XBRL tags within the Inline XBRL document. The filing concluded with the signature of William Drew, the Executive Vice President and Chief Financial Officer, signifying the authenticity of the report on behalf of Ranpak Holdings Corp.

Investors are advised to stay informed about Ranpak’s future disclosures and updates to track the company’s progress amidst changing market dynamics and global uncertainties.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Ranpak’s 8K filing here.

About Ranpak

Ranpak Holdings Corp., together with its subsidiaries, provides product protection solutions and end-of-line automation solutions for e-commerce and industrial supply chains in North America, Europe, and Asia. The company offers protective packaging solutions, such as void-fill protective systems that convert paper to fill empty spaces in secondary packages and protect objects under the FillPak brand; cushioning protective systems, which convert paper into cushioning pads under the PadPak brand; and wrapping protective systems that create pads or paper mesh to wrap and protect fragile items, as well as to line boxes and provide separation when shipping various objects under the WrapPak, Geami, and ReadyRoll brands, as well as cold chain products, which are used to provide insulation for goods.