NYSE$PACK

Ranpak Holdings Corp · Q1 2020 earnings

Q1 2020 earnings · · Investor relations

Briefing

Reported first quarter 2020 financial results.

Ranpak's first quarter net sales decreased by 4.1% to $63.4 million, primarily driven by a decrease in the volume of paper consumable products. Adjusted EBITDA decreased 8.1% to $18.1 million. The company is withdrawing its guidance due to the uncertainty of the pandemic.

  • Net sales decreased 4.1% to $63.4 million due to lower demand for cushioning and void-fill products.
  • Cost of sales decreased $1.3 million or 3.4% due to decreases in volume and the price of paper.
  • Net loss was $3.6 million due principally to decreased volumes and pricing and increased investment in personnel versus the prior year.
  • Adjusted EBITDA decreased 8.1% to $18.1 million.

Headline financials

Total Revenue

$63.4M

Previous: $66.1M-4.1%
EPS (adj)

-$0.05

No prior period
Adjusted EBITDA

$18.1M

Previous: $19.7M-8.1%
Capital Expenditures

-$10.3M

Previous: $6.5M-258.5%
Free Cash Flow

-$13.9M

Previous: $7.1M-295.8%
Net Income

-$3.6M

Previous: -$4.48M+19.6%
Operating Income

-$600K

Previous: -$6.26M+90.4%
Gross Profit

$26.8M

Previous: $28.1M-4.6%
Cash & Equivalents

$20.2M

Previous: $1.96M+928.2%
Total Assets

$1.09B

Previous: $310M+252.4%

Revenue & EPS history

Ranpak · Revenue · Quarterly

$63.4M

Q1 2020-4.1%vs Q1 2019
Beat estimate in 5 of 9 quarters(56%)
ActualEstimate

Revenue by segment

Ranpak · $78M total across 3 segments · Q3 2023

  • Cushioning
    $35.7M+6.9%
  • Void-Fill
    $34.2M+9.3%
  • Wrapping
    $8.1M-15.6%

Forward guidance

Given the lack of visibility and uncertainty about the pandemic and its potential effects on the global economy, supply chain, and decisions made by all levels of government, we are withdrawing our forward-looking guidance. We expect that we will resume guidance when the environment stabilizes and we can provide a clear picture of our expectations.

Tailwinds

  • Ranpak is well positioned to weather the COVID-19 pandemic due to the essential role we play in the global supply chain.
  • Diverse operations
  • Global customer base
  • Strong liquidity
  • Strong cash generation position

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 20 quarterly earnings reports · overlaid with Q1 2020

Historical avgQ1 2020

-0.5%

Avg return

Earnings day

+1.5%

Avg return

5 days after

+4.7%

Avg return

30 days after

42%

14 / 33 earnings

Positive

+45.4%

Q4 2023

Best reaction

-29.1%

Q1 2025

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026+29.2%+50.0%+74.1%
Q4 2025-1.3%-6.0%-34.0%
Q3 2025-17.5%-5.4%-11.5%
Q1 2025-29.1%-21.0%-19.6%
Q4 2024+2.6%-6.1%-36.9%
Q3 2024+3.0%+7.9%+31.4%
Q2 2024+7.5%+6.5%-1.8%
Q1 2024-8.2%-2.7%-14.9%
Q4 2023+45.4%+64.7%+62.5%
Q3 2023-23.8%-17.3%+16.1%
Q2 2023+15.0%-6.9%+7.1%
Q1 2023-23.2%-19.8%-9.7%
Q4 2022+7.7%+7.9%-2.8%
Q3 2022+15.8%+37.6%+50.3%
Q2 2022-25.5%-27.6%-16.9%
Q1 2022-20.0%-26.5%-15.5%
Q4 2021-8.4%-13.1%-17.0%
Q3 2021+9.8%+13.6%+24.1%
Q2 2021-1.9%-0.6%+16.9%
Q1 2021+4.0%-3.5%-0.9%
Q4 2020+8.9%+16.1%+10.7%
Q3 2020+8.3%+21.0%+30.4%
Q2 2020-3.9%-1.2%+5.2%
Q1 2020+0.1%-14.1%+0.1%
Q4 2019+1.4%-3.1%-16.5%
Q3 2019-2.4%+0.0%-2.5%
Q2 2019-8.5%-0.7%+32.5%
Q1 2019-0.3%-0.7%-9.2%
Q4 2018-0.1%-0.2%+0.9%
Q2 2018-0.1%-0.2%+0.9%
Q3 2018+0.0%+0.0%+0.3%
Q4 2017-0.2%-0.2%+0.4%
Q1 2018-0.2%-0.2%+0.4%
Q3 2017

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