Ranpak Holdings Corp. Reports Third Quarter 2026 Financial Results

Omar Asali, Chairman and Chief Executive Officer of Ranpak Holdings Corp.

“We are pleased to grow our top-line and AEBITDA in the third quarter as our diversification into Automation continues to drive growth and differentiate us from our competition. Automation delivered another strong quarter with revenue growth of 26.9% year over year on a constant currency basis and excluding warrants, bringing year-to-date results in Automation up 79.4% on a constant currency basis and excluding warrants. We remain on track to have a strong year in Automation as we expect to achieve approximately $60 million in revenue and continue scaling to a level that enables us to effectively absorb our overhead and become profitable going forward. In our Protective Packaging Solutions, we continue to navigate a dynamic environment due to rising energy prices and macro uncertainty. As expected, we saw the distribution channel in North America return to growth as we lap the challenging comparisons experienced in the first half of the year and our new products gain traction, resulting in volume growth of 1.8% year over year overall in the region. After exceeding expectations in the second quarter, Europe/Asia volumes were lower by 4.9% year over year as we saw some destocking in the channel and an overall more cautious environment, but we do expect to return to growth in Europe/Asia in the fourth quarter. We continue to focus on our margin enhancement initiatives improving gross margin by 110 bps versus prior year to 35.6%, and increasing 280 bps sequentially from the second quarter driven by improvement in North America. Together, these factors contributed to net revenue growth of 2.3%, or 3.4% on a constant currency basis, inclusive of a $1.2 million provision for warrants. AEBITDA increased $1.1 million or 5.1% to $22.5 million and was up 6.1% on a constant currency basis. Excluding the impact of warrants, AEBITDA increased 7.7% on a constant currency basis. On a year-to-date basis we have achieved net revenue growth of 8.9%, or 6.6% on a constant currency basis, inclusive of a $4.6 million provision for warrants. Year-to-date AEBITDA increased $5.3 million, or 9.6%, to $60.5 million and was up 6.0% on a constant currency basis. Excluding the impact of warrants, year-to-date AEBITDA increased 8.8% on a constant currency basis. While volatility has stepped up markedly since the end of the second quarter, we believe we are executing well on the things that are in our control and expect to achieve our prior guidance for the year. Consistent with prior quarters we remain disciplined on cost and are focused on delivering top‑line growth while strengthening our margin profile.”