Ranpak Q1 revenue beats estimates driven by EMEA volume gains

Overview

• U.S. sustainable packaging firm's Q1 revenue rose 11%, beating analyst expectations

• Adjusted EBITDA for Q1 increased 9.2% to $18.9 mln

• Revenue growth driven by automation and EMEA volume gains; North America faced tough comparison

Outlook

• Company did not provide specific guidance for future quarters or the full year

Result Drivers

• AUTOMATION GROWTH - Net revenue from automation equipment rose 112.7% year over year, driving overall revenue gains

• EMEA VOLUME GAINS - PPS volumes grew 0.8% year over year, led by growth in EMEA, exceeding company expectations

Company press release: ID:nBw3fn37ta

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 2 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the paper packaging peer group is "buy"

• Wall Street's median 12-month price target for Ranpak Holdings Corp is $7.25, about 84% above its April 29 closing price of $3.94

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