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Mar 31, 2020
Ranpak Q1 2020 Earnings Report
Reported first quarter 2020 financial results.
Key Takeaways
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.
Ranpak
Ranpak
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.
Positive Outlook
- 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