Welcome to our dedicated page for Greif news (Ticker: GEF), a resource for investors and traders seeking the latest updates and insights on Greif stock.
Greif, Inc. reports developments in global industrial and performance packaging, including quarterly results, product pricing, dividends and portfolio changes. The company operates packaging businesses organized around Customized Polymer, Sustainable Fiber, Durable Metal and Innovative Closure Solutions, with products and services that include drums, intermediate bulk containers, recycled paperboard, tubes and cores, protective packaging, closures, accessories and related packaging services.
Recurring Greif news also covers Class A and Class B common stock dividends, earnings conference calls, segment presentation changes and the completed divestiture of the containerboard business, including the CorrChoice sheet feeder system, which is treated as discontinued operations in company reporting.
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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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Greif, Inc. (NYSE: GEF, GEF.B) reported impressive third-quarter 2022 results, with net income rising to $141.8 million ($2.36 per share) from $113.0 million ($1.89 per share) year-over-year. Adjusted EBITDA of $251.0 million increased by $13.2 million, while net cash from operating activities surged by $114.4 million to reach $209.3 million. The company’s total debt decreased by $208.9 million, improving its leverage ratio to 1.99x. A $150 million share repurchase program was initiated, and the Board declared quarterly dividends of $0.50 for Class A and $0.75 for Class B shares, payable on October 1, 2022.
Greif, Inc. (NYSE: GEF, GEF.B) announced the election of Roel Vestjens to its Board of Directors on August 31, 2022. Vestjens, current President and CEO of Belden Inc., brings extensive experience in global leadership roles across sales, marketing, operations, and general management. His appointment is expected to enhance the Board's expertise and bring valuable insights to Greif. The company aims to be the best performing customer service company globally, specializing in industrial packaging products and services across over 35 countries.
Greif, Inc. (NYSE: GEF, GEF.B) announced a quarterly cash dividend of $0.50 for Class A Common Stock and $0.75 for Class B Common Stock, marking an 8.7% increase from previous dividends. The dividends are payable on October 1, 2022, to stockholders of record by September 16, 2022. This increase reflects Greif's commitment to shareholder value, complemented by a recent share repurchase program. The company aims to enhance recurring dividends while maintaining strong operational performance in the industrial packaging sector.