Ranpak rises on higher 2023 rev forecast

Ranpak Holdings

15/03/2023 17:38

** Shares of Ranpak Holdings Corp  PACK.N  up 4.8% at $4.93 
  ** Co expects 2023 rev of $365 mln to $385 mln, reflecting
top-line growth of 6% to 12% 
  ** Expects H2 2023 to be a bigger contributor to overall
top-line as new product launches hit and co resumes slightly
improved operating environment 
  ** Ranpak reports Q4 rev of $79.4 mln, missing analysts'
estimates of $90.5 mln – Refinitiv
  ** Also reports Q4 net loss of $7.3 mln vs net loss of $2.5
mln a year earlier
  ** Shares down ~14% so far this year; fell ~85% in 2022

 (Reporting by Yamini Kalia)
 ((Yamini.Kalia@thomsonreuters.com))