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 (NYSE: GEF) has announced significant price increases across multiple product lines. The company will implement a $50-$70 per short ton price increase for all grades of uncoated recycled paperboard (URB) products, effective April 21, 2025. Additionally, a minimum 7.5% price increase will be applied to all tube and core and protective packaging products, effective April 28, 2025.
The company attributes these price adjustments to rising manufacturing costs for URB products. The subsequent increase in tube and core and protective packaging prices is directly linked to URB being the primary raw material in these products.
Greif (NYSE: GEF) has been awarded the Gallup Exceptional Workplace Award (GEWA) for the second consecutive year, recognizing its excellence in workplace engagement. The award acknowledges Greif's success in creating a best-in-class workplace environment among its 14,000 global colleagues.
This recognition is based on Gallup's comprehensive workplace analysis, which studied over 3.3 million employees across 347 organizations in 53 industries and 90 countries. The study confirms that highly engaged organizations demonstrate superior performance in key areas including customer ratings, profitability, productivity, safety, and organizational citizenship.
Ole Rosgaard, President and CEO, highlighted the company's commitment to balancing people and performance, while Executive VP and CHRO Bala V. Sathyanarayanan emphasized how colleague engagement enhances safety, customer service, and financial performance.
Greif (NYSE: GEF) reported fiscal Q1 2025 results showing mixed performance. Net income fell 87.2% to $8.6 million ($0.15 per Class A share), largely due to a non-recurring tax benefit in the prior year. Adjusted EBITDA increased 5.9% to $145.1 million.
Key financial metrics include: net cash from operations decreased by $35.3 million to a use of $30.8 million; total debt increased by $548.4 million to $2,840.2 million following the Ipackchem acquisition; and the leverage ratio rose to 3.63x from 2.46x.
Strategic initiatives include: plans to divest approximately 176,000 acres of timberland in the Southeastern US for debt reduction; closure of facilities in Austell, GA and Fitchburg, MA; and progress on cost optimization with $13.0 million in annual run-rate savings achieved.
Greif (NYSE: GEF, GEF.B), a global leader in industrial packaging products and services, has announced its quarterly dividend declaration. The company's Board of Directors has declared a quarterly cash dividend of $0.54 per share for Class A Common Stock and $0.81 per share for Class B Common Stock. These dividends will be paid on April 1, 2025, to stockholders of record as of March 17, 2025.
The company operates globally with over 14,000 employees across more than 250 facilities in 37 countries. Greif's product portfolio includes steel, plastic and fiber drums, intermediate bulk containers, reconditioned containers, containerboard, corrugated products, uncoated and coated recycled paperboard, and specialty products. They also manage timber properties in the southeastern United States.
Greif Inc (NYSE: GEF, GEF.B) has announced it will release its 2025 first quarter financial results after market close on Wednesday, February 26, 2025. The company will host a conference call on Thursday, February 27, 2025, at 8:30 a.m. ET to discuss the results.
The conference call will feature management's prepared remarks and a Q&A session. Conference call slides will be provided alongside the earnings release. Participants must register online to receive dial-in details and a unique conference code. Phone lines will open at 8:00 a.m. ET on February 27. A digital replay will be available two hours after the call on the company's investor website.
Greif is a global leader in industrial packaging products and services with over 14,000 employees across more than 250 facilities in 37 countries.
Greif (NYSE: GEF), a global industrial packaging company, announced the permanent closure of two production facilities. The company will cease operations of the Number 1 Paperboard Machine (A1) in Austell, GA, and close its containerboard and uncoated recycled paperboard (URB) mill in Fitchburg, MA. These strategic actions will impact approximately 140 positions and reduce the company's containerboard capacity by 100,000 tons and URB capacity by 90,000 tons.
The closure of A1, a non-integrated URB asset, is attributed to increased costs and declining demand in furniture, books, and binders markets. The Fitchburg mill closure decision was driven by high operating costs and required significant capital investment. Production will cease at A1 by the end of March 2025 and at Fitchburg by May 2025. The company will provide severance benefits and outplacement assistance to affected employees.
Greif Inc. (NYSE: GEF, GEF.B) is hosting its 2024 Investor Day in New York City on December 11, 2024, from 8:30 a.m. to 12:00 p.m. ET. The event features CEO Ole Rosgaard, CFO Larry Hilsheimer, and the Executive Leadership Team presenting an in-depth review of the company's Build to Last strategy and future growth plans. The event focuses on demonstrating how Greif is accelerating growth, profitability, and business resiliency. A live video webcast and presentation materials are available through a special Investor Day microsite, with a replay accessible on the Investor Relations webpage within 24 hours after the event.
Greif (NYSE: GEF, GEF.B) has unveiled ModCan™, a new modular packaging solution, at the Pack-Expo conference in Chicago. The innovative system features wedge-shaped components designed to fit inside a Greif 55-gallon drum, enabling safe shipment of multiple materials, chemicals, or waste components simultaneously without contamination risks.
The solution aims to optimize shipping efficiency by reducing the number of required shipments and enhancing safety by eliminating the need for material transfers. ModCan is particularly suitable for waste applications in specialty manufacturing, semiconductor operations, clean rooms, laboratories, and pharmaceutical production. The product was developed in collaboration with a chemical industry partner and is currently available in North America.
Greif Inc (NYSE: GEF) has issued a correction to its Fourth Quarter and Fiscal Year 2024 earnings release. The company revised its Q4 2024 net income, excluding adjustments, to $65.5 million from the previously reported $49.6 million. The correction was due to an error in the income tax expense related to '(gain) loss on disposal of businesses, net' which was incorrectly stated as $16.0 million.
The corrected Class A diluted earnings per share, excluding adjustments, is now $1.13, up from the previously reported $0.85. The revised earnings release was issued on December 4, 2024, at 10:59 PM ET, including updated financial schedules and corresponding text changes.
Greif reported Q4 and fiscal 2024 results with mixed performance. Q4 net income decreased 6.5% to $63.4 million ($1.08 per Class A share), while adjusted net income fell 29.3% to $65.5 million ($1.13 per Class A share). Q4 Adjusted EBITDA declined 2% to $197.6 million.
For fiscal 2024, net income dropped 27% to $262.1 million ($4.52 per Class A share), and Adjusted EBITDA decreased 15.6% to $694.2 million. The company's leverage ratio increased to 3.53x from 2.2x year-over-year.
The company announced a $100 million cost optimization initiative and will reorganize into four new reportable segments starting Q1 2025: Customized Polymer Solutions, Durable Metal Solutions, Sustainable Fiber Solutions, and Integrated Solutions.