Ranpak Holdings Corp
For the period ended Sep 30, 2024. Filed Oct 31, 2024.
View on SEC.govAbout this filing
A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2024 · Filed Oct 31, 2024
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Item 1. Condensed Consolidated Financial Statements (Unaudited)
Item 1. Financial Statements
Index to Unaudited Condensed Consolidated Financial Statements
Unaudited Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) for the Three and Nine Months Ended September 30, 2024 and 2023
Unaudited Condensed Consolidated Balance Sheets – September 30, 2024 and December 31, 2023
Unaudited Condensed Consolidated Statements of Changes in Shareholders’ Equity for the Three and Nine Months Ended September 30, 2024 and 2023
Unaudited Condensed Consolidated Statements of Cash Flows for the Nine Months Ended September 30, 2024 and 2023
Notes to the Unaudited Condensed Consolidated Financial Statements
Unaudited Condensed Consolidated Statements of Operations
and Comprehensive Income (Loss)
| Three Months Ended September 30, | Nine Months Ended September 30, | |||
|---|---|---|---|---|
| 2024 | 2023 | 2024 | 2023 | |
| Paper revenue | $71.3 | $64.8 | $205.0 | $192.4 |
| Machine lease revenue | 13.6 | 13.2 | 40.0 | 38.7 |
| Other revenue | 7.3 | 4.8 | 18.9 | 14.8 |
| Net revenue | 92.2 | 82.8 | 263.9 | 245.9 |
| Cost of goods sold | 57.8 | 51.3 | 165.5 | 156.7 |
| Gross profit | 34.4 | 31.5 | 98.4 | 89.2 |
| Selling, general and administrative expenses | 28.8 | 20.9 | 84.0 | 64.4 |
| Depreciation and amortization expense | 8.2 | 8.1 | 24.9 | 24.2 |
| Other operating expense, net | 1.6 | 0.9 | 3.7 | 3.5 |
| Income (loss) from operations | (4.2) | 1.6 | (14.2) | (2.9) |
| Interest expense | 9.3 | 6.8 | 20.8 | 18.4 |
| Foreign currency (gain) loss | 0.2 | (0.7) | (1.1) | 0.2 |
| Other non-operating income, net | (3.1) | (0.1) | (21.0) | (0.8) |
| Loss before income tax benefit | (10.6) | (4.4) | (12.9) | (20.7) |
| Income tax benefit | (2.5) | (1.1) | (2.2) | (2.9) |
| Net loss | $(8.1) | $(3.3) | $(10.7) | $(17.8) |
| Two-class method | ||||
| Basic and diluted loss per share | $(0.10) | $(0.04) | $(0.13) | $(0.22) |
| Class A – basic and diluted loss per share | $(0.10) | $(0.04) | $(0.13) | $(0.22) |
| Class C – basic and diluted loss per share | $(0.10) | $(0.03) | $(0.13) | $(0.21) |
| Weighted average number of shares outstanding – Class A and C – basic and diluted | 83,227,887 | 82,322,957 | 82,994,759 | 82,297,985 |
| Other comprehensive income (loss), before tax | ||||
| Foreign currency translation adjustments | $3.6 | $(1.9) | $1.4 | $(1.0) |
| Interest rate swap adjustments | — | (2.2) | (3.4) | (5.3) |
| Total other comprehensive income (loss), before tax | 3.6 | (4.1) | (2.0) | (6.3) |
| Provision (benefit) for income taxes related to other comprehensive income (loss) | (0.8) | 0.1 | (0.8) | (1.1) |
| Total other comprehensive income (loss), net of tax | 4.4 | (4.2) | (1.2) | (5.2) |
| Comprehensive loss, net of tax | $(3.7) | $(7.5) | $(11.9) | $(23.0) |
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