Greif Stock Price, News & Analysis

Greif, Inc. (NYSE: GEF, GEF.B) has announced Ole Rosgaard as the new President and CEO, following a planned succession. Rosgaard takes over from Pete Watson, who will become Executive Chairman. This leadership change aims to enhance shareholder value. A new executive team has also been appointed, effective February 1, 2022, comprising various experienced leaders to drive growth and operational improvement. The company's vision remains focused on becoming the best-performing customer service company globally, with a solid presence in 40 countries.

Greif, Inc. (NYSE: GEF, GEF.B) announced a $50 per ton price increase for all grades of uncoated recycled paperboard (URB), effective for new orders and shipments starting February 14, 2022. Additionally, there will be a minimum 6.0% hike on tube, core, and protective packaging products, effective from March 4, 2022. These increases are attributed to strong demand and inflationary cost pressures in energy, labor, transportation, and raw materials.

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.