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), a global leader in industrial packaging products and services, has elected Andy Rose to its Board of Directors. Rose, currently the President and CEO of Worthington Enterprises, brings over 30 years of experience in manufacturing, distribution, and financial services industries. His appointment is expected to contribute valuable expertise as Greif executes its strategic plan and aims for growth.
Rose's career includes roles at Worthington Industries, MCG Capital , Peachtree Equity Partners, and Wachovia Capital Associates. He holds an MBA from Duke University and a bachelor's degree from the University of North Carolina. Rose also serves on the board of OhioHealth and is a member of The Ohio Business Roundtable and the Columbus Partnership.
Greif, Inc. (NYSE: GEF, GEF.B), a global leader in industrial packaging, has announced the sale of Delta Petroleum Company, Inc. to PSC Group Delta, a North American filling and logistics services business, was sold as part of Greif's strategic realignment. CEO Ole Rosgaard stated that while Delta is a solid business, it no longer aligns with Greif's core growth strategy of expanding into resin-based industrial products serving higher-growth and less cyclical end markets.
The transaction is expected to bring value to both parties, with the sale proceeds to be used to accelerate Greif's strategic vision. This move reflects Greif's focus on optimizing its portfolio and aligning with its long-term growth objectives in the industrial packaging sector.
Greif, Inc. (NYSE: GEF, GEF.B), a global leader in industrial packaging products and services, has announced the release date for its 2024 third quarter financial results. The company will report its earnings after market close on Wednesday, August 28, 2024, followed by a conference call on Thursday, August 29, 2024, at 8:30 a.m. ET.
Participants can access the call through an online registration link, which will provide dial-in details and a unique conference code. Greif will also provide conference call slides alongside its earnings press release. A digital replay of the call will be available on the company's investor relations website two hours after the call concludes.
Greif operates globally with over 14,000 employees across more than 250 facilities in 37 countries, serving both global and regional customers in various industries.
Greif, Inc. (NYSE: GEF, GEF.B), a global leader in industrial packaging, has announced its 2024 Investor Day to be held on December 11, 2024 in New York City. The event will feature presentations by CEO Ole Rosgaard, CFO Larry Hilsheimer, and the Executive Leadership Team.
Key highlights include:
- In-depth review of Greif's Build to Last strategy
- Discussion on value creation through the service profit chain
- Showcase of the Greif Business System's impact on company performance
- Q&A sessions with executives
A live webcast will be available, with presentation materials posted on the morning of the event. Formal invitations and registration details will be sent in the coming months.
Greif (NYSE: GEF), a leading industrial packaging company, announced a minimum 6% price increase on all tube and core and protective packaging products. This price adjustment will take effect on shipments starting July 15, 2024. The increase is driven by the higher costs of URB, the primary raw material used in these products.
Greif announced its fiscal second quarter 2024 results, highlighting a significant decline in financial performance compared to Q2 2023. Net income dropped 60.1% to $44.4 million, and adjusted EBITDA decreased by 25.7% to $169.9 million. Net cash from operating activities fell by $123.3 million to $87.5 million. Total debt rose by $626.9 million, largely due to the acquisition of Ipackchem, increasing the leverage ratio to 3.44x. Notably, Global Industrial Packaging saw a rise in net sales by $56.6 million, while Paper Packaging & Services experienced a slight increase of $6.0 million in net sales but a significant drop in gross profit by $45.4 million. Despite these challenges, Greif plans strategic initiatives and will host an Investor Day in New York City on December 11, 2024, to discuss future plans.
Greif (NYSE: GEF) announced a price increase for all grades of uncoated recycled paperboard (URB) by $50 to $70 per short ton. This change will take effect for new orders and shipments starting July 8, 2024. The price adjustment is driven by rising costs in raw materials, energy, labor, and transportation, along with growing demand for URB products.
Greif (NYSE: GEF, GEF.B) has appointed Jillian Evanko to its Board of Directors. Evanko, currently the President and CEO of Chart Industries (NYSE: GTLS), brings over 25 years of experience in the manufacturing and industrial sectors. She has held executive roles at Dover , Arthur Andersen, Honeywell, and Sony. Evanko holds an MBA from The University of Notre Dame and a BS in Business Administration from La Salle University. She has received multiple awards for her leadership, including the 2023 EY Entrepreneur of the Year Southeastern Finalist and the 2020 S&P Global Platts Energy Award for Chief Trailblazer. Greif's Chairman, Bruce Edwards, emphasized her proven track record in driving growth and profitability as key assets for the company's strategic goals.
Greif, a leader in industrial packaging, has declared a quarterly cash dividend of $0.52 per share for its Class A Common Stock and $0.78 per share for its Class B Common Stock. The dividends will be payable on July 1, 2024, to shareholders of record as of June 18, 2024. Greif, headquartered in Delaware, Ohio, operates over 250 facilities in 37 countries and employs more than 14,000 people.
The company offers a diverse range of packaging products and services, including steel, plastic, and fiber drums, intermediate bulk containers, containerboard, corrugated sheets, and more. Greif also manages timber properties in the southeastern United States.
Greif, a leader in industrial packaging products and services, has been named to Newsweek’s 2024 list of Top 100 Global Most Loved Workplaces. This recognition is based on surveys of over 2 million employees from companies of varying sizes. Greif has received this honor for the second consecutive year. CEO Ole Rosgaard attributed this success to the company's commitment to respect, care, and integrity for its employees. Executive VP Bala V. Sathyanarayanan emphasized that this accolade helps Greif attract top talent and enhance its diverse global culture. For more details, visit Newsweek's official ranking page.