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.
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.
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.