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.
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.
Greif, Inc. (NYSE: GEF, GEF.B) reported its first-quarter 2021 results with net income of $23.4 million ($0.40/share), a decline from $32.3 million ($0.55/share) in Q1 2020. Excluding adjustments, net income was $35.9 million ($0.61/share), down from $37.9 million ($0.64/share). Adjusted EBITDA fell by $8.9 million to $138.5 million, while operating cash flow decreased by $8 million to $11.5 million. The company reduced total debt by $268.7 million to $2.54 billion. Greif combined RIPS and FPS segments to improve operational efficiency and announced a quarterly dividend of $0.44 for Class A and $0.66 for Class B shares.
Greif, Inc. (NYSE: GEF, GEF.B) announced on February 23, 2021, that its Board of Directors declared 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 paid on April 1, 2021, to stockholders on record as of March 19, 2021. Greif, a leader in industrial packaging, aims to excel in customer service and produces a diverse range of packaging solutions globally.
Greif, Inc. (NYSE: GEF, GEF.B) announced it will release its 2021 first quarter financial results on February 24, 2021, after market close. A conference call is scheduled for February 25, 2021, at 8:30 a.m. ET, where management will provide insights and answer questions regarding the earnings. Participants can access the call via an online registration link. The company emphasizes its commitment to being a customer service leader in industrial packaging, producing a wide range of packaging products and services.
Greif, Inc. (NYSE: GEF, GEF.B) announced a price increase on select products effective March 4, 2021. This includes a $50 per ton rise for uncoated recycled paperboard, $70 per ton for recycled and semi-chemical medium, and $60 per ton for recycled linerboard. The decision comes as a response to strong demand and rising production and transportation costs. Greif, a leader in industrial packaging, continues to strengthen its market position across over 40 countries.
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Greif announced its fourth quarter and fiscal year 2020 results, highlighting a net income of $44.4 million ($0.74 per diluted Class A share), down from $65.0 million ($1.09 per share) in Q4 2019. Fiscal year net income also decreased to $108.8 million ($1.83 per share) from $171.0 million ($2.89 per share). Adjusted EBITDA dropped to $154.5 million for Q4 and $642.6 million for the fiscal year. However, adjusted free cash flow improved to $173.9 million for Q4 and $346.2 million for the year. The company maintained a Gold Rating in sustainability for the third consecutive year.