Packaging company Ranpak has posted a net loss of $10.2m in the first quarter (Q1) of 2026, compared with a net loss of $10.9m in the same period a year earlier.
Q1 net revenue rose to $101.2m from $91.2m, an increase of $10.0m, or 11.0%.
The total included a non-cash reduction tied to the provision for warrants, cutting void-fill revenue by $0.9m and automation revenue by $0.8m in the quarter.
Adjusted earnings before interest, taxes, depreciation and amortisation (EBITDA) came in at $18.9m for the quarter, up $1.6m, equating to a year-on-year (YoY) increase of 9.2%.
Higher revenue from automation, void-fill and cushioning offset a decline in wrapping.
Cushioning and void-fill revenue increased by 4% to $36.6m and $41.9m, respectively, while wrapping revenue edged down to $9.3m from $9.4m, or 1.1%.
Automation revenue more than doubled to $13.4m from $6.3m, rising $7.1m, or 112.7%.
Protective packaging solutions (PPS) machine placements were 144,100 at 31 March 2026, up 0.2% from a year earlier.
PPS volumes saw a YoY increased 0.8%, with growth in the Europe, Middle East and Africa (EMEA) region.
The company said this was ahead of the expectations mentioned on its fourth-quarter call and represented consolidated PPS volume growth in ten of the past 11 quarters.
In North America, the comparison was difficult because Q1 sales last year had risen 33.5%.
The company said large enterprise e-commerce activity in the region remained strong while the distribution channel was below the level recorded a year earlier.
Ranpak chairman and CEO Omar Asali said: “I am pleased with how we started the year and how effectively we are navigating a dynamic environment.
“While global conflicts create additional uncertainty in the near term, we believe we are structurally well-positioned. Over the past several years, we have focused on developing sustainable, differentiated, value‑added solutions for our customers.
"I believe we are in the right substrate, and our automated solutions deliver meaningful efficiencies and cost savings, which have become even more critical in recent months, reinforcing our confidence in our growth trajectory. We are also very pleased with the deepening relationships with Amazon and Walmart and the opportunities to expand our work with them.”
