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, 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.
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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.
Greif, Inc. (NYSE: GEF, GEF.B), a leader in industrial packaging, has joined the Alliance to End Plastic Waste (AEPW), a global non-profit focused on reducing plastic waste. The AEPW comprises over 50 companies that collaborate with various organizations to tackle environmental challenges related to plastic waste. Greif's COO, Ole Rosgaard, emphasized the company's commitment to sustainability and the importance of collaboration for a circular economy. This partnership aims at innovative solutions across infrastructure, education, and environmental clean-up to promote sustainable practices.
Greif, Inc. reported record third-quarter 2021 results, achieving net sales of $1.49 billion, up $407.8 million year-over-year. Net income surged to $113 million, or $1.89 per diluted Class A share, from $20.7 million, or $0.35 per share, a year earlier. Adjusted EBITDA rose to $237.8 million, with total debt decreasing by $370 million to $2.27 billion. The company announced increased FY 2021 guidance for earnings per share and free cash flow, alongside a dividend hike of 2 cents for Class A and 3 cents for Class B shares, effective October 1, 2021. CEO Pete Watson will retire in 2022, succeeded by COO Ole Rosgaard.
Greif, Inc. (NYSE: GEF, GEF.B) announced on August 31, 2021, an increase in quarterly cash dividends: $0.46 per share for Class A Common Stock and $0.69 for Class B Common Stock, marking a 4.5% increase from the previous year. The dividends, reflecting the Board's confidence in the company's financial strength, are payable on October 1, 2021, for shareholders of record by September 17, 2021. Greif emphasizes dividends as a key component of shareholder returns and plans further evaluations for increases as debt levels decrease.
Greif, Inc. (NYSE: GEF, GEF.B) announced a $70 per ton price increase for all grades of uncoated recycled paperboard, effective for new orders from September 13, 2021. This follows a previous $50 increase on July 26, 2021. Additionally, an 8.5% price hike on tube, core, and protective packaging products will take effect from September 24, 2021, complementing a 6% increase already implemented on August 6, 2021. These adjustments aim to address robust demand and rising costs in raw materials, labor, and transportation.
Greif, Inc. (NYSE: GEF, GEF.B) announced it will release its 2021 third quarter financial results on September 1, 2021, after market close. A conference call is scheduled for September 2, 2021, at 8:30 a.m. ET. The call will feature management's remarks and a Q&A session. Conference call slides will be available alongside the earnings release. Participants can register online for the call, which will also have a digital replay accessible shortly after it concludes.
Greif, Inc. (NYSE: GEF, GEF.B) announced on July 15, 2021, that it has successfully repaid its existing 7.375% Euro 200 million senior notes. The repayment was financed through a $225 million term loan A-3, which was negotiated in November 2020. This term loan features an interest rate of approximately 2.0% and is set to mature in July 2026. This refinancing move aims to optimize the company's capital structure and reduce interest expenses.