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 a $50 per ton price increase for all grades of uncoated recycled paperboard (URB), effective for new orders and shipments starting July 26, 2021. This decision arises from ongoing cost pressures in production and transportation, alongside strong demand across the Greif paperboard network. As a global leader in industrial packaging, Greif produces a variety of containerboard and specialty products, serving clients in over 40 countries.
Greif, Inc. (NYSE: GEF, GEF.B) announced the retirement of President and CEO Pete Watson effective February 1, 2022, following a multi-year succession planning. Ole Rosgaard, currently COO and with Greif since 2015, will succeed Watson. Additionally, Michael Gasser will not seek re-election as Chairman at the 2022 annual meeting, with Watson transitioning to Executive Chairman. Under Watson's leadership, Greif enhanced performance through strategic investments and sustainability initiatives, including the acquisition of Caraustar Industries.
Greif, Inc. (NYSE: GEF, GEF.B) reported strong second quarter 2021 results, with net income reaching $149.8 million or $2.51 per diluted share, compared to $11.4 million or $0.19 in Q2 2020. Adjusted EBITDA decreased to $176.6 million, while net cash from operations increased by $52.5 million to $152.3 million. Total debt decreased to $2.3 billion, reducing the leverage ratio to 3.2x. The company also announced the sale of timberlands for $149 million and reintroduced annual guidance, forecasting Class A earnings per share between $4.55 and $4.85.
Greif, Inc. (NYSE: GEF, GEF.B) has announced the declaration of quarterly 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 payable on July 1, 2021, to stockholders of record as of June 21, 2021. Greif operates in over 40 countries, providing a variety of industrial packaging products and services across multiple industries.
Greif, a leader in industrial packaging, has revised its fiscal second quarter 2021 earnings guidance, expecting diluted Class A earnings per share between $1.11 and $1.15, an increase from the prior range of $0.96 to $1.06. This revision is attributed to stronger volumes and selling prices in the Global Industrial Packaging sector, along with a lower tax rate, though it faces higher SG&A expenses due to increased incentive accruals. The financial results will be reported after market close on June 9, 2021, with a conference call scheduled for June 10, 2021.
Greif, Inc. (NYSE: GEF, GEF.B) will announce its 2021 second quarter financial results on June 9, 2021, after market close. A conference call to discuss these results will take place on June 10, 2021, at 8:30 a.m. ET. Interested participants can access the call via online registration, with phone lines opening at 8:00 a.m. ET. The call will include management remarks and a Q&A session. A digital replay will be available shortly after the call.
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Greif, Inc. (NYSE: GEF, GEF.B) has successfully finalized the sale of 69,200 acres of timberlands in Alabama to Weyerhaeuser Company (NYSE: WY) for approximately $149 million. The proceeds will be directed towards debt repayment, aligning with Greif's financial strategy to enhance value for equity holders. This move reflects Greif's commitment to manage enterprise value effectively while positioning the company within the industrial packaging sector.
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.