Ranpak Holdings Corp. (NYSE: PACK) reported Q4 revenue for the quarter came in at $77.7 million versus the consensus estimate of $77.9 million.

“We are pleased to finish 2019 on a strong note,” said Omar M. Asali, Chairman and Chief Executive Officer of Ranpak. “Sales for the quarter increased by 5.7% year over year on a constant currency basis driven by broad-based growth across geographies with strong growth in cushioning and wrapping solutions. Profitability was robust with year over year growth in Adjusted EBITDA of 15.8% and 320 bps of margin expansion relative to the fourth quarter of 2018, resulting in an Adjusted EBITDA margin greater than 36%.”

“As expected, in the fourth quarter we experienced greater operating leverage due to higher sales volumes and improved execution. During the second half of 2019 significant investments were made in Ranpak in the areas of innovation, human capital, and improving our digital footprint. Our investments in the business will continue into 2020 as we maintain our focus on innovation, add talent to key areas, and expand the production capacity of our facilities to serve our growing markets. Our key near-term growth initiatives remain retail expansion, innovation of the core, and Automation with progress being made in all areas in the fourth quarter. I’m pleased to share that our two recent product launches of industry leading void-fill and cushioning solutions have been very well received in the market and have invigorated our sales force and distributor partners.”

“The importance of increasing sustainability throughout supply chains across the globe is only getting greater. We believe Ranpak is exceptionally well positioned to help customers improve their business while improving their impact on the environment.”

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