Greif Stock Price, News & Analysis

Greif, Inc. (NYSE: GEF, GEF.B) reported strong second quarter 2021 results, with net income reaching $149.8 million or $2.51 per diluted share, compared to $11.4 million or $0.19 in Q2 2020. Adjusted EBITDA decreased to $176.6 million, while net cash from operations increased by $52.5 million to $152.3 million. Total debt decreased to $2.3 billion, reducing the leverage ratio to 3.2x. The company also announced the sale of timberlands for $149 million and reintroduced annual guidance, forecasting Class A earnings per share between $4.55 and $4.85.

Greif, Inc. (NYSE: GEF, GEF.B) has announced the declaration of quarterly cash dividends of $0.44 per share on Class A Common Stock and $0.66 per share on Class B Common Stock. The dividends will be payable on July 1, 2021, to stockholders of record as of June 21, 2021. Greif operates in over 40 countries, providing a variety of industrial packaging products and services across multiple industries.

Greif, a leader in industrial packaging, has revised its fiscal second quarter 2021 earnings guidance, expecting diluted Class A earnings per share between $1.11 and $1.15, an increase from the prior range of $0.96 to $1.06. This revision is attributed to stronger volumes and selling prices in the Global Industrial Packaging sector, along with a lower tax rate, though it faces higher SG&A expenses due to increased incentive accruals. The financial results will be reported after market close on June 9, 2021, with a conference call scheduled for June 10, 2021.

Greif, Inc. (NYSE: GEF, GEF.B) will announce its 2021 second quarter financial results on June 9, 2021, after market close. A conference call to discuss these results will take place on June 10, 2021, at 8:30 a.m. ET. Interested participants can access the call via online registration, with phone lines opening at 8:00 a.m. ET. The call will include management remarks and a Q&A session. A digital replay will be available shortly after the call.

Greif, Inc. (NYSE: GEF, GEF.B) has successfully finalized the sale of 69,200 acres of timberlands in Alabama to Weyerhaeuser Company (NYSE: WY) for approximately $149 million. The proceeds will be directed towards debt repayment, aligning with Greif's financial strategy to enhance value for equity holders. This move reflects Greif's commitment to manage enterprise value effectively while positioning the company within the industrial packaging sector.

Greif, Inc. (NYSE: GEF, GEF.B) announced a new goal to reduce absolute Scope 1 and 2 greenhouse gas emissions by 28% by 2030, aligning with climate science to limit global warming. The company will explore Scope 3 emissions and aims for a net-zero carbon goal by the end of 2023. Greif has committed to sustainability for over 15 years and achieved an 11% reduction in emissions per unit of production in 2019. The company will enhance energy efficiency and partner with Schneider Electric for renewable energy solutions.

Greif, Inc. (NYSE: GEF, GEF.B) announced a $50 per ton price increase on all grades of uncoated recycled paperboard (URB) and coated recycled paperboard (CRB), effective immediately for new orders. This decision follows strong demand and ongoing cost pressures in production and transportation. The company aims to maintain its leadership position in the industrial packaging sector.

Greif, Inc. (NYSE: GEF, GEF.B) announced an agreement to sell 69,200 acres of timberland in Alabama to Weyerhaeuser Company (NYSE: WY) for approximately $149 million. The proceeds will be used for debt repayment, enhancing Greif's financial position. The transaction is subject to customary closing conditions and is expected to finalize in Q2 2021. Greif's CEO, Pete Watson, stated that this agreement will help to de-lever their balance sheet and favor equity holders.