Ranpak Reports Strong Q2 Growth Driven by Automation Revenue
Ranpak Holdings Corp (NYSE:PACK) reported second-quarter revenue growth of 12.2% year over year, driven primarily by a sharp increase in automation equipment sales. The company's automation revenue surged 139%, supported by deployments with Walmart and Medline as well as new customer wins. Adjusted EBITDA rose to $19.1 million for the quarter, reflecting improved profitability despite ongoing cost pressures. Management expects further margin gains from pricing strategies, surcharges, and efficiency initiatives but noted that automation is not expected to reach adjusted EBITDA breakeven until late 2026. Ranpak reaffirmed its full-year outlook, targeting approximately $60 million in automation revenue for the year while pursuing long-term goals such as leverage reduction, cold-chain expansion, and achieving $800 million in total revenue by 2030.