Welcome to our dedicated page for Greif news (Ticker: GEF.B), a resource for investors and traders seeking the latest updates and insights on Greif stock.
Greif, Inc. (GEF.B) is a global industrial packaging leader with operations spanning 35+ countries. This news hub provides investors and industry professionals with timely updates on the company's financial performance, strategic initiatives, and market developments.
Access official press releases and curated analysis covering earnings reports, sustainability programs, manufacturing expansions, and leadership updates. Our collection enables tracking of Greif's three core business segments: Global Industrial Packaging, Paper Packaging and Services, and Land Management.
Stay informed about developments impacting steel/fiber drum production, container lifecycle services, and international market strategies. All content is organized chronologically for efficient research and decision-making.
Bookmark this page for continuous access to Greif's latest corporate announcements, regulatory filings, and industry positioning updates. Check back regularly for real-time updates on this NYSE-listed packaging solutions provider.
Greif announced the completion of its $300 million acquisition of Lee Container, enhancing its industrial packaging portfolio. The deal is expected to generate at least $6 million in synergies over the next 24 months. Lee Container will contribute positively to Greif's margins, cash flow, and earnings, with immediate diversification benefits. This strategic acquisition aligns with Greif's M&A strategy and aims to enhance growth in less cyclical markets.
Greif, Inc. (NYSE: GEF, GEF.B) announced its fourth quarter and fiscal year 2022 results, showcasing a net income of $99.5 million ($1.67/share) in Q4 and $376.7 million ($6.30/share) for the full year. Adjusted EBITDA increased to $218.7 million in Q4 and $917.5 million for the year. The company reported an increase in net cash provided by operating activities to $286.6 million in Q4 and $657.5 million for the year. Total debt decreased by $309.5 million, improving the leverage ratio to 1.73x. Greif also announced the acquisition of Lee Container Corporation for $300 million.
Greif, Inc. (NYSE: GEF, GEF.B) announced a quarterly cash dividend of $0.50 per share on its Class A Common Stock and $0.74 per share on Class B Common Stock. These dividends are set to be paid on January 1, 2023, to stockholders on record as of December 16, 2022. This announcement underscores Greif's commitment to returning value to shareholders while maintaining its position as a leader in industrial packaging products and services.
Greif, Inc. (NYSE: GEF, GEF.B) will release its 2022 fourth quarter financial results on December 7, 2022, following the market close. A conference call to discuss the results and 2023 outlook is scheduled for December 8, 2022, at 8:30 a.m. ET. The call will feature management commentary and a Q&A session. Registration is required for participation, and a digital replay will be available shortly after the call on the company's website.
Greif, Inc. (NYSE: GEF, GEF.B) reaffirmed its fiscal 2022 earnings guidance, estimating Class A EPS between $7.90 and $8.10 per share. This comes before the company's participation in the Baird Global Industrial Conference in Chicago. The reaffirmation is attributed to better-than-expected pricing in the fourth quarter, though this was offset by lower volumes, particularly in the EMEA and APAC regions due to energy inflation and COVID-19 challenges. The fiscal Q4 financial results will be announced after market close on December 7, 2022.
Greif, Inc. (NYSE: GEF, GEF.B) has announced a definitive agreement to acquire Lee Container Corporation for $300 million, aiming to enhance its position in the North American jerrycan market. The acquisition, expected to close by year-end 2022, is projected to generate $6 million in synergies within two years. Lee Container, which posted $162 million in sales and $33 million in adjusted EBITDA for the trailing twelve months ending September 30, 2022, is positioned in key growth sectors. The deal emphasizes Greif's strategy for ongoing growth in industrial packaging.
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