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. (NYSE: GEF, GEF.B) regularly issues news and updates as a global leader in industrial and performance packaging. Founded in 1877 and located in 40 countries, the company uses its news releases to describe developments across its Customized Polymer, Sustainable Fiber, Durable Metal and Integrated Solutions areas, as well as broader corporate actions.
Investors and followers of GEF news will see recurring announcements about quarterly and annual earnings results, including details on net income, Adjusted EBITDA, Adjusted free cash flow, net debt and leverage ratio. These earnings releases often discuss performance drivers in each segment, such as volumes, selling prices, product mix, raw material and manufacturing costs, and foreign currency translation impacts.
Greif also uses its news flow to highlight strategic portfolio moves. Recent press releases describe the agreement to divest, and subsequent completion of the sale of, its containerboard business to Packaging Corporation of America, as well as the agreement to sell and completion of the sale of its timberlands business to Molpus Woodlands Group. These items are framed in the context of capital efficiency, return on invested capital, debt reduction and portfolio shaping.
Other GEF news items include declarations of quarterly cash dividends on Class A and Class B shares, updates on cost optimization initiatives, guidance ranges for Adjusted EBITDA and Adjusted free cash flow, and leadership changes such as the appointment of a new Senior Vice President, General Counsel and Corporate Secretary. The company also announces the dates and access details for its earnings conference calls, including slide availability and replay information.
For readers tracking GEF news, this stream of earnings updates, dividend declarations, portfolio transactions and governance developments provides ongoing insight into how Greif manages its industrial and performance packaging business and communicates with shareholders.
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Greif, Inc. (NYSE: GEF, GEF.B) has finalized the divestiture of its Flexible Packaging joint venture (FPS) for $123 million to Gulf Refined Packaging. This strategic move aligns with Greif's Build to Last Strategy and aims to enhance financial strength through debt repayment. The transaction is expected to positively influence Greif's earnings guidance for Fiscal 2022. CEO Ole Rosgaard expressed gratitude to FPS employees and emphasized the importance of this divestiture for the company's future.
Greif, a leader in industrial packaging, announced its first-quarter 2022 results, revealing a net income decrease to $10.3 million or $0.18 per diluted share, down from $23.4 million or $0.40 the previous year. However, adjusted net income rose to $75.6 million, or $1.28 per diluted share. Adjusted EBITDA increased by $58.3 million to $196.8 million, while net cash from operations improved by $10.9 million to $22.4 million. The company reduced total debt by $242.6 million to $2.3 billion, achieving a leverage ratio of 2.39x. A strategic divestiture of its joint venture is set for March 31, 2022.
Greif, Inc. (NYSE: GEF, GEF.B) announced the election of Karen Morrison and Kim Scott to its Board of Directors, enhancing governance and operational expertise. Morrison, with her background in healthcare and governance, brings valuable stakeholder engagement skills, while Scott contributes extensive operational experience from her tenure at Aramark and Terminix. Both directors aim to support Greif's vision of excelling in customer service and operational strategy across its global industrial packaging services.
Greif, Inc. (NYSE: GEF, GEF.B) has declared quarterly cash dividends of $0.46 per share for Class A Common Stock and $0.69 per share for Class B Common Stock, payable on April 1, 2022. Stockholders must be on record by the close of business on March 17, 2022. Greif, a leader in industrial packaging, aims to excel in customer service while providing various packaging solutions and services globally. Operating in 40 countries, the company continues to focus on meeting diverse customer needs.
Greif, a global leader in industrial packaging, will announce its 2022 Q1 financial results on March 2, 2022, after market close. A conference call with management will take place on March 3, 2022, at 8:30 a.m. ET. The call will include remarks and a Q&A session. Investors can register for the call online, and a replay will be available on the company's website. Greif operates in 40 countries and offers a wide range of industrial packaging products and services.
Greif, Inc. (NYSE: GEF, GEF.B) has received a Gold Rating for sustainability performance from EcoVadis for the fourth consecutive year. EcoVadis evaluates companies on CSR criteria across Environment, Labor & Human Rights, Ethics, and Sustainable Procurement. The recognition reflects Greif's commitment to positive social, economic, and environmental impacts. Greif follows standards such as GRI and SASB, and aligns disclosures with TCFD recommendations. The company operates in 40 countries, producing various industrial packaging products.
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.