Ranpak Holdings Corp. shares performed poorly during the first quarter of 2026 due to soft earnings results blamed on the macro environment, according to the Meridian Contrarian Fund's investor letter. The fund, managed by ArrowMark Partners, noted that the stock's decline was exacerbated by higher EU energy prices driven by the conflict in Iran, which will impact profitability for the approximately 45% of sales that come from that region. The fund trimmed its position in Ranpak for risk management purposes but remains a shareholder due to the large potential of the automation business. Ranpak is a manufacturer of paper-based protective packaging solutions and an early leader in sustainable packaging products. The Meridian Contrarian Fund returned 1.10% during the quarter, underperforming the Russell 2500 Growth Index's 2.04% return and the Russell 2500 Value Index's 4.77% return.
Ranpak Holdings CorpWeak earnings results blamed on macro environment, and higher EU energy prices from Iran conflict will impact profitability on 45% of sales.