Ranpak (NYSE:PACK) Announces Earnings Results

Key Points

• Earnings miss and weak profitability: Ranpak reported EPS of ($0.11) versus a ($0.02) consensus and revenue of $111.9M (vs. $112.8M), with negative return on equity (6.79%) and a net margin of -9.48%.
• Automation is the growth engine: Automation revenue topped $40M in 2025 (~35% YoY) and management guides 30–50% growth in 2026 (potentially >$60M), with the automation business expected to turn positive on Adjusted EBITDA.
• Strong e‑commerce demand but profitability and leverage concerns: North America e‑commerce drove volumes (+5.5% Q4, ~14% for the year) and two large customers could generate >$1B cumulative revenue over 8–10 years, yet Adjusted EBITDA declined, net leverage sits at 4.4x (target 2.5–3x), and EMEA/geopolitical energy risks pressured near‑term guidance.

Ranpak (NYSE:PACK - Get Free Report) posted its earnings results on Thursday. The company reported ($0.11) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.09), FiscalAI reports. Ranpak had a negative return on equity of 6.79% and a negative net margin of 9.48%.The firm had revenue of $111.90 million during the quarter, compared to the consensus estimate of $112.82 million.

Here are the key takeaways from Ranpak's conference call:

• Automation was a standout — Ranpak grew automation revenue to north of $40M in 2025 (≈35% year) and guides to 30%–50% growth in 2026 (potentially >$60M) with the business expected to turn positive on Adjusted EBITDA.
• North America drove the quarter and year — e‑commerce volumes led to +5.5% volume in Q4 and ~14% for the year, and relationships with two large e‑commerce/retail customers are expected to generate a cumulative > $1 billion of revenue over the next 8–10 years.
• Profitability pressures remain — Q4 Adjusted EBITDA fell 10.3% (or -1.2% excl. warrant impact), full‑year Adjusted EBITDA declined, gross profit was down on mix and warrant effects, automation was a ~$6M drag for the year (though it broke even in Q4), and net leverage sits at 4.4x with a target of 2.5–3x.
• Europe and geopolitical risk are headwinds — EMEA revenue was softer (rebates, mix and weaker industrial demand), and the recent Middle East conflict has elevated European energy prices (Dutch TTF volatility), prompting a more conservative near‑term guide.

Ranpak Stock Performance

Shares of Ranpak stock traded down $0.85 on Thursday, reaching $4.44. 571,446 shares of the company traded hands, compared to its average volume of 400,079. The company has a 50 day moving average of $5.55 and a 200 day moving average of $5.28. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.88 and a quick ratio of 1.42. Ranpak has a 52 week low of $2.91 and a 52 week high of $7.07. The firm has a market capitalization of $374.65 million, a PE ratio of -10.09 and a beta of 2.82.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a "sell (d-)" rating on shares of Ranpak in a research report on Thursday, January 22nd. Two equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $7.50.

Hedge Funds Weigh In On Ranpak

Several institutional investors and hedge funds have recently bought and sold shares of the company. Intech Investment Management LLC lifted its position in shares of Ranpak by 26.3% during the 3rd quarter. Intech Investment Management LLC now owns 28,357 shares of the company's stock valued at $159,000 after buying an additional 5,909 shares during the last quarter. Sei Investments Co. purchased a new stake in Ranpak in the 2nd quarter worth about $149,000. Franklin Resources Inc. bought a new stake in Ranpak in the 4th quarter valued at about $137,000. Worth Venture Partners LLC purchased a new stake in Ranpak during the third quarter valued at about $126,000. Finally, XTX Topco Ltd bought a new position in Ranpak during the second quarter worth about $108,000. 85.94% of the stock is owned by institutional investors.

Ranpak Company Profile

Ranpak Holdings Corp. NYSE: PACK is a leading provider of sustainable, paper-based packaging solutions designed to protect products during transit. The company's core business centers on the design, manufacture and distribution of automated systems and consumable paper packaging materials that offer an eco-friendly alternative to plastic-based void-fill and protective packaging. Ranpak's solutions include crumpled paper fillers, paper wrap systems and tailored automation equipment that serve diverse end markets such as e-commerce, industrial parts, electronics and retail.

Founded in 1972 and headquartered in Concord Township, Ohio, Ranpak has built a global presence by combining innovation in paper converting technology with a commitment to sustainability.

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