Ranpak Holdings Corp. (NYSE: PACK) reported Q1 EPS of $0.08, $0.10 better than the analyst estimate of ($0.02). Revenue for the quarter came in at $87.7 million versus the consensus estimate of $71.98 million.

Omar Asali, Chairman and Chief Executive Officer, commented, “Our first quarter results reflect an outstanding start to 2021 for Ranpak. I am very proud of the way our organization has responded to the current environment and worked together to serve our customers across the globe. Net revenue for the quarter increased 31.2% year over year on a constant currency basis to $85.0 million, driven by continued strength in Europe/APAC as well as growth in North America. We experienced robust demand for all protective packaging products fueled by continued elevated e-Commerce activity as well as improving industrial activity globally. This impressive top-line growth was surpassed by our growth in profitability as Adjusted EBITDA increased 54.7% on a constant currency basis to $28.0 million as we experienced significant operating leverage on our G&A in the period. Overall, we are very pleased with the strong start to the year and the way the team has responded to rapidly changing conditions.

“Our outlook remains very positive as we see robust tailwinds in our business. In the near-term we are enthusiastic about our customer trends and the positive macro environment. For the longer-term, we continue to invest in the business to capitalize on what we feel are two powerful secular trends: Sustainability and Automation.”

For earnings history and earnings-related data on Ranpak Holdings Corp. (PACK) click here.