Ranpak Holdings Corp (NYSE:PACK) Q2 2020 Earnings Conference Call - Final Transcript

Jul 30, 2020 • 08:30 am ET


Ranpak Holdings Corp (NYSE:PACK) Q2 2020 Earnings Conference Call - Final Transcript


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Ladies and gentlemen, thank you for standing by, and welcome to the Ranpak Holdings Corp. Second Quarter 2020 Earnings Call. [Operator Instructions] Please be advised that today's conference is being recorded. On the call with us today is Omar Asali, Chairman and CEO; Bill Drew, Interim CFO; and David Murgio, Chief Sustainability Officer and Corporate Secretary. [Operator Instructions] I would now like to hand the conference over to your speaker today, Chief Sustainability Officer and Corporate Secretary, David Murgio.

David Murgio

Thank you, and good morning, everyone. Before we begin, I'd like to remind you that we will discuss forward-looking statements as defined under the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those forward-looking statements as a result of various factors, including those discussed in our press release and the risk factors outlined in our most recent Form 10-K, subsequent Form 10-Qs and other filings with the SEC.

Some of the statements and responses to your questions in this conference call may include forward-looking statements that are subject to future events and uncertainties that could cause our actual results to differ materially from those statements. Ranpak assumes no obligation and does not intend to update any such forward-looking statements. You should not place undue reliance on these forward-looking statements, all of which speak to the company only as of today. The earnings release we issued this morning and the presentation for today's call are posted on the Investor Relations section of our website. A copy of the release has been included in the 8-K that we submitted to the SEC before this call. We will also make a replay of this conference call available via webcast on the company's website.

For financial information that is presented on a non-GAAP basis, we have included reconciliations to the comparable GAAP information. Please refer to the table and slide presentation accompanying today's earnings release. Also, as we'll discuss in more detail later, due to the accounting treatment for the business combination we closed on June 3, 2019, we've also presented our results for the three and six months ended June 30, 2019 on a combined basis, reflecting a simple arithmetic combination of the GAAP predecessor and successor periods without further adjustment as well as any other adjustments as described. Lastly, we'll be filing our Form 10-Q with the SEC for the period ending June 30, 2020. The 10-Q will be available through the SEC or on the Investor Relations section of our website. With me today, I have Omar Asali, our Chairman and CEO; and Bill Drew, our interim CFO. Omar will summarize our second quarter results, and Bill will provide some additional detail before opening up the call for questions.

With that, let me turn the call over to Omar.

Omar Marwan Asali

Thank you, David, and good morning, everyone. I'd like to start by thanking our team for their extraordinary efforts over the past few months and adapting so well to a rapidly changing environment. If you had asked me six