PACK
Ranpak Holdings Corp.5.41
-0.04-0.73%
Dec 16, 4:00:02 PM EST
Earnings Call Transcripts
This Quarter (Q1 '26)
No earnings call transcript available yet
Last Quarter (Q4 '25)
FY Q4 '25
Guidance color, automation backlog strength
Q&A unpacked 2026 guidance with North America PPS volumes eyed at high single- to double-digits from Walmart and Amazon ramps, versus potential EMEA dips at the low end amid Middle East uncertainty. Automation entered with its strongest backlog ever, bolstering 30%-50% growth to over $60M and positive EBITDA. Free cash flow targets $15M at midpoint after $37.5M CapEx. Cadence tilts back-half heavy past tough Q1 comps. Management shrugged off major gas cost blows but flagged demand fragility. Plastic-to-paper shifts broaden beyond majors; sector consolidates. Automation visibility sharpens thesis. Watch Europe demand, execution cadence.
Key Stats
Market Cap
456.47MP/E (TTM)
-Basic EPS (TTM)
-0.47Dividend Yield
0%Recent Filings
10-K
FY2025 results
Ranpak Holdings grew net revenue 7.1% to $395M in FY2025 ended December 31, 2025, with void-fill up 10.1% to $177.1M and automation surging 34.4% to $39.1M on e-commerce shifts to paper, yet cushioning dipped 1.3% amid industrial slowdowns; North America accelerated 14.0% while Europe/Asia edged 1.6%. Gross profit contracted 6.5% to $130.7M from production cost inflation outpacing pricing. Q4 holiday seasonality boosted e-commerce volumes, but full-year AEBITDA fell 5.5% to $79.2M. Term debt stood at $410M (8.42% rate, revolver undrawn with $44.1M availability); capex held steady at $30.3M. No annual guidance disclosed. Reliance on single kraft paper supplier risks supply disruptions.
8-K
Q4 revenue beats, AEBITDA dips
Ranpak reported Q4 net revenue up 6.6% to $111.9 million, driven by 3.1% volume growth and 35% surge in automated equipment sales, yet AEBITDA fell 5.1% to $24.0 million from e-commerce mix and warrant provisions. Full-year revenue rose 7.1% to $395.0 million. Automation booms. Guides 2026 revenue $415–$445 million, AEBITDA $83.5–$95 million amid Middle East risks.
10-Q
Q3 FY2025 results
Ranpak pushed net revenue to $99.6M in Q3 ended September 30, 2025, up 8.0% y/y from $92.2M while holding gross profit flat at $34.4M despite cost pressures; YTD revenue climbed 7.3% y/y to $283.1M, but operating loss widened to $(23.4)M from $(14.2)M as net loss hit $(28.8)M versus $(10.7)M, driven by interest expense up 23.6% y/y to $25.7M. Europe/Asia (55% of revenue) outpaced North America with stronger automation sales, offsetting warrant provisions that trimmed void-fill. Cash dipped to $49.9M with OCF at $3.6M less capex of $25.1M yielding negative FCF (derived); $403.1M debt steady at 8.80% with $44.1M revolver availability and covenant compliance. Customer concentration risks loom large.
8-K
Q3 revenue up 8%, Automation soars
Ranpak reported Q3 net revenue up 8.0% to $99.6M, fueled by 63.0% Automation surge to $11.9M yet offset by $0.8M warrant reduction; net loss widened to $10.4M from $8.1M. Adjusted EBITDA rose 8.1% to $21.4M, gross margin hit 34.5%. Automation booms. Walmart deal eyes $300M spend over 10 years for vesting 22.5M warrants.
8-K
Ranpak issues Walmart vesting warrant
Ranpak Holdings Corp. issued Walmart a warrant on August 22, 2025, to buy up to 22.5 million shares at $6.8308 each, vesting 2.25 million immediately and the rest tied to Walmart's spending under commercial deals, fully vesting at $300 million aggregate spend minus paper costs. Over $100 million of that spend targets Ranpak's Automation Solutions, boosting revenue from Protective Packaging too. Walmart holds no voting rights until exercise. This locks in Walmart as a key customer, yet dilutes shareholders if fully exercised.
IPO
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