Greif, Inc. Stock Price, News & Analysis

Greif, Inc. (NYSE: GEF, GEF.B) announced the divestiture of its 50% stake in the Flexible Packaging joint venture to Gulf Refined Packaging for $123 million. The cash proceeds will be allocated for debt repayment. This strategic move follows differing views with the joint venture partner on the future of the FPS business. Greif expects the transaction to close by March 31, 2022, leading to an adjustment in its Fiscal 2022 guidance. CEO Pete Watson emphasized the value derived from this disciplined capital allocation.

Greif, Inc. (NYSE: GEF, GEF.B) reported strong fourth quarter and fiscal year 2021 results, with net income of $104.5 million ($1.74 per diluted Class A share), a significant increase from $44.4 million ($0.74 per share) in Q4 2020. Adjusted EBITDA rose to $211.3 million, reflecting a $56.8 million improvement. Despite increased income, adjusted free cash flow decreased by $79.1 million to $94.8 million due to inflationary raw material costs. The company’s total debt reduced by $261.4 million, and its leverage ratio improved to 2.49x. Greif also declared quarterly cash dividends of $0.46 per Class A share.

Greif, Inc. (NYSE: GEF, GEF.B) has declared quarterly cash dividends of $0.46 for Class A Common Stock and $0.68 for Class B Common Stock. The dividends are set to be paid on January 1, 2022, to shareholders on record by the close of business on December 17, 2021. Greif is noted for its leadership in industrial packaging products, operating across 40 countries with a portfolio that includes steel, plastic, and fibre drums among various specialty products. This announcement reflects the company's commitment to returning value to its investors.

Greif, Inc. (NYSE: GEF, GEF.B) announced the passing of Judith D. Hook, a valued member of its Board of Directors, who died on November 17, 2021. Hook served on the board since 2003 and was recognized for her insights and dedication to the company. CEO Pete Watson expressed deep condolences, highlighting her significant contributions to Greif's vision and operations. Greif is a leader in industrial packaging products, with a commitment to exceptional customer service across 40 countries.

Greif, Inc. (NYSE: GEF, GEF.B) will report its 2021 fourth-quarter financial results on December 8, 2021, after market close. A subsequent conference call is scheduled for December 9, 2021, at 8:30 a.m. ET, featuring management's remarks and a Q&A session. The conference call slides will be available alongside the earnings release. Phone lines for the call will open at 8:00 a.m. ET. A digital replay will be accessible two hours post-call. Greif, a leader in industrial packaging, operates in 40 countries providing a range of products and services.

Greif, Inc. (NYSE: GEF, GEF.B) has announced a price increase of $60 per ton on all grades of uncoated recycled paperboard, effective for new orders and shipments after November 8, 2021. Additionally, a minimum 7% increase on tube and core and protective packaging products will take effect for shipments after November 22, 2021. These price hikes respond to strong demand and rising costs in energy, transportation, labor, and other inputs. This announcement follows earlier price increases, indicating ongoing inflationary pressures in the industrial packaging sector.

Greif, Inc. (NYSE: GEF, GEF.B), a leader in industrial packaging, has joined the Alliance to End Plastic Waste (AEPW), a global non-profit focused on reducing plastic waste. The AEPW comprises over 50 companies that collaborate with various organizations to tackle environmental challenges related to plastic waste. Greif's COO, Ole Rosgaard, emphasized the company's commitment to sustainability and the importance of collaboration for a circular economy. This partnership aims at innovative solutions across infrastructure, education, and environmental clean-up to promote sustainable practices.

Greif, Inc. reported record third-quarter 2021 results, achieving net sales of $1.49 billion, up $407.8 million year-over-year. Net income surged to $113 million, or $1.89 per diluted Class A share, from $20.7 million, or $0.35 per share, a year earlier. Adjusted EBITDA rose to $237.8 million, with total debt decreasing by $370 million to $2.27 billion. The company announced increased FY 2021 guidance for earnings per share and free cash flow, alongside a dividend hike of 2 cents for Class A and 3 cents for Class B shares, effective October 1, 2021. CEO Pete Watson will retire in 2022, succeeded by COO Ole Rosgaard.