The global foam packaging market was valued at USD 18.32 billion in 2023 and is projected to reach USD 32.50 billion by 2034, registering a CAGR of 5.35% from 2024 to 2034. The market growth is attributed to the increase in the popularity of online shopping and rapid technological advancements.
| Metric | Q4 23 (Dec 2023) | Q1 24 (Mar 2024) | Q2 24 (Jun 2024) | Q3 24 (Sep 2024) | Q4 24 (Dec 2024) | Q1 25 (Mar 2025) | Q2 25 (Jun 2025) | Q3 25 (Sep 2025) | TTM |
| Total revenue | 1.33 B | 1.31 B | 1.28 B | 1.36 B | 1.36 B | 1.71 B | 1.91 B | 2.13 B | 7.11 B |
| YoY growth | −20.50% | −24.33% | −24.91% | −20.62% | 2.47% | 30.62% | 49.31% | 57.31% | |
| Cost of goods sold | −1.01 B | −1.03 B | −993.96 M | −1.05 B | −1.08 B | −1.34 B | −1.50 B | −1.66 B | −5.58 B |
| Gross profit | 317.85 M | 273.36 M | 284.61 M | 301.81 M | 283.89 M | 367.94 M | 407.04 M | 471.79 M | 1.53 B |
| YoY growth | −0.76% | −28.73% | −20.40% | −17.17% | −10.69% | 34.60% | 43.02% | 56.32% | |
| Operating expenses (excl. COGS) | −170.90 M | −162.38 M | −151.08 M | −142.65 M | −185.25 M | −203.31 M | −211.25 M | −210.74 M | −810.56 M |
| Operating income | 146.95 M | 110.98 M | 133.52 M | 159.16 M | 98.64 M | 164.63 M | 195.79 M | 261.05 M | 720.10 M |
| YoY growth | −4.41% | −44.13% | −29.48% | −18.27% | −32.88% | 48.34% | 46.64% | 64.02% | |
| Non-operating income (total) | −75.99 M | −68.73 M | −61.63 M | −115.06 M | −193.39 M | −96.08 M | −89.91 M | −133.29 M | −512.67 M |
| Pretax income | 70.97 M | 42.25 M | 71.89 M | 44.10 M | −94.76 M | 68.54 M | 105.88 M | 127.76 M | 207.43 M |
| YoY growth | −25.18% | −78.15% | −52.76% | −73.56% | −233.52% | 62.25% | 47.28% | 189.69% | |
| Equity in earnings | 1.55 M | 1.14 M | 2.27 M | 2.81 M | 3.37 M | 1.92 M | 2.27 M | 3.02 M | 10.58 M |
| Taxes | −11.41 M | −7.87 M | −16.76 M | −15.52 M | 34.64 M | −21.15 M | −39.50 M | −7.72 M | −33.73 M |
| Non-controlling/minority interest | −524.00 K | −96.00 K | −140.00 K | −241.00 K | 579.00 K | −60.00 K | 224.00 K | −147.00 K | 596.00 K |
| After tax other income/expense | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | — |
| Net income before discontinued operations | 60.58 M | 35.42 M | 57.27 M | 31.15 M | −56.17 M | 49.26 M | 68.88 M | 122.92 M | 184.88 M |
| Discontinued operations | 20.72 M | 29.76 M | 33.54 M | 19.77 M | 13.30 M | 5.17 M | −201.22 M | 0 | −182.75 M |
| Net income | 81.31 M | 65.18 M | 90.81 M | 50.92 M | −42.87 M | 54.43 M | −132.35 M | 122.92 M | 2.13 M |
| YoY growth | −16.36% | −56.06% | −20.79% | −61.05% | −152.72% | −16.49% | −245.74% | 141.39% | |
| Dilution adjustment | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | — |
| Preferred dividends | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | — |
| Diluted net income available to common stockholders | 81.24 M | 65.18 M | 90.81 M | 50.92 M | −42.96 M | 54.43 M | −132.35 M | 122.92 M | 2.04 M |
| Basic earnings per share (basic EPS) | 0.83 | 0.66 | 0.92 | 0.52 | −0.44 | 0.55 | −1.33 | 1.24 | 0.02 |
| YoY growth | −16.69% | −56.20% | −21.07% | −61.19% | −152.71% | −16.84% | −245.02% | 140.17% | |
| Diluted earnings per share (diluted EPS) | 0.82 | 0.66 | 0.92 | 0.51 | −0.44 | 0.55 | −1.33 | 1.23 | 0.01 |
| YoY growth | −16.62% | −56.30% | −21.08% | −61.19% | −153.36% | −16.64% | −245.84% | 140.45% | |
| Average basic shares outstanding | 97.96 M | 98.50 M | 98.67 M | 98.68 M | 98.26 M | 98.91 M | 99.17 M | 99.18 M | — |
| Diluted shares outstanding | 99.16 M | 99.16 M | 99.24 M | 99.27 M | 98.26 M | 99.34 M | 99.17 M | 99.65 M | — |
| EBITDA | 238.55 M | 201.54 M | 223.01 M | 249.81 M | 202.81 M | 286.12 M | 325.27 M | 392.70 M | 1.21 B |
| YoY growth | 3.06% | −28.22% | −17.72% | −10.88% | −14.98% | 41.97% | 45.85% | 57.20% | |
| EBIT | 146.95 M | 110.98 M | 133.52 M | 159.16 M | 98.64 M | 164.63 M | 195.79 M | 261.05 M | 720.10 M |
| YoY growth | −4.41% | −44.13% | −29.48% | −18.27% | −32.88% | 48.34% | 46.64% | 64.02% | |
| Total operating expenses | −1.18 B | −1.20 B | −1.15 B | −1.20 B | −1.27 B | −1.54 B | −1.71 B | −1.87 B | −6.39 B |