NYSE$PACK
Ranpak Holdings Corp · Q4 2022 earnings
Q4 2022 earnings · · Investor relations
Briefing
Ranpak had a challenging Q4 2022 due to a weak holiday season in e-commerce and soft industrial activity.
Ranpak reported a decrease in net revenue by 27.2% year-over-year to $79.4 million for the fourth quarter of 2022. The company experienced a net loss of $7.3 million, compared to a net loss of $2.5 million in the same quarter of the previous year. Constant currency Adjusted EBITDA decreased by 63.9% to $12.9 million.
- Packaging system placements increased by 4.4% year-over-year, reaching approximately 139,100 machines as of December 31, 2022.
- Net revenue decreased by 27.2%, or 22.2% adjusting for constant currency.
- Net loss was $7.3 million compared to a net loss of $2.5 million.
- Constant currency Adjusted EBITDA was $12.9 million, down 63.9%.
Headline financials
Revenue & EPS history
Ranpak · Revenue · Quarterly
$79.4M
Revenue by segment
Ranpak · $76M total across 3 segments · Q4 2022
- Void-Fill$33.2M-26.5%43.7%
- Cushioning$33.1M-24.3%43.6%
- Wrapping$9.7M-38.2%12.8%
Forward guidance
Ranpak forecasts net revenue growth in the area of 6% – 12% and AEBITDA growth of 14% – 28% on a constant currency basis for 2023.
Tailwinds
- Resuming volume growth in PPS through increased penetration and new product innovation.
- Upcoming new launches in Wrapping, Void-fill, and Cold-Chain solutions.
- Expect a greater contribution from Automation as both of our manufacturing facilities will be open in the second half of the year.
- Top-line growth combined with input cost savings are the primary driver of the AEBITDA outperformance.
- Benefit from the positive operating leverage on G&A from greater volumes and higher gross margins.
Headwinds
- Unable to provide a reconciliation of our forecast of net revenue on a constant currency basis for 2023 to a forecast of net revenue on a GAAP basis without unreasonable effort primarily because we are unable to forecast with reasonable certainty the associated currency impact.
- A reconciliation of our forecast for constant currency AEBITDA for 2023 to GAAP net income cannot be provided without unreasonable effort because we are unable to forecast with reasonable certainty several of the items necessary to calculate such comparable GAAP measure, including asset impairments, integration related expenses, reorganizations and discontinued operations related expenses, legal settlement costs, constant currency adjustments, as well as other unusual or non-recurring gains or losses.
- These items are uncertain, depend on various factors, and could be material to our results computed in accordance with GAAP.
- Believe the inherent uncertainties in reconciling such non-GAAP measures for projected periods to the most comparable GAAP measures would make the forecasted comparable GAAP measures difficult to predict with reasonable certainty or reliability.
- Overall as we think about our future, our primary structural tailwinds of e-Commerce, Automation, and Sustainability continue to be extremely attractive places to be long term.
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 Q4 2022
-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
| Quarter | Report date | Reaction (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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