Welcome to our dedicated page for Greystone Logist news (Ticker: GLGI), a resource for investors and traders seeking the latest updates and insights on Greystone Logist stock.
Greystone Logistics, Inc. (OTCQB: GLGI) appears frequently in news coverage for its role as a green manufacturing company focused on recycled plastic pallets and sustainable logistics solutions. Company announcements often describe how Greystone reprocesses recycled plastic and uses proprietary resin blends, injection molding equipment, extrusion lines and patented pallet designs to produce 100% recycled plastic pallets for multiple industries.
News items commonly include earnings releases and schedules for earnings calls, where Greystone discusses financial results and operations. These updates can cover topics such as revenue, EBITDA, capital structure decisions, preferred stock redemptions and share repurchase activity, giving investors insight into how the company manages its finances and capital base.
Operational news from Greystone highlights developments in its pallet business and logistics programs. The company has announced initiatives such as Palletrip, a lightweight recycled plastic, cellular-tracked pallet program designed for closed-loop transfers with tailored rental and lease options. Releases describing Palletrip explain how Greystone aims to address issues associated with traditional wood and block pallets and to introduce Pallet-as-a-Service leasing models with cellular-based tracking.
Greystone’s news flow also includes references to independent research coverage and commentary on its business model and market positioning. Together, these articles provide a view into the company’s focus on sustainability, recycled plastic technology and logistics solutions. Investors and observers can use the news stream to monitor earnings updates, capital allocation decisions, new program launches and other corporate communications related to GLGI.
Greystone Logistics (OTCQB: GLGI) reported a net income of $3,044,535 for the nine months ending February 28, 2022, representing an increase from $2,366,837 in the prior year. However, net income for the three months decreased from $633,456 to $452,458. EBITDA declined to $8,237,357 from $9,392,907 year-over-year. The gross profit margin fell to 9.7% on sales of $53,069,648, attributed to inflationary pressures on raw materials and labor costs. Despite these challenges, the CEO noted stable demand and plans for expanded manufacturing capacity, including new products showcased at Modex.
Greystone Logistics, Inc. (OTCQB:GLGI) reported mixed financial results for the six and three months ended November 30, 2021. Net income for the six months increased to $2,592,077 ($0.09/share) from $1,733,381 ($0.06/share) year-over-year. However, the three months resulted in a net loss of $(378,844) compared to a profit of $873,180 previously. The gross profit margin fell to 8.0% from 18.3%, attributed to inflation and labor shortages. Despite challenges, the company secured a $13.5 million contract and plans to hire more staff to enhance operations.
Greystone Logistics, Inc. (OTCQB: GLGI) has initiated shipments following a $13.5 million order for 100% recycled plastic pallets from a major retailer. This order highlights the retailer's commitment to sustainable practices. CEO Warren Kruger emphasized the advantages of recycled pallets, including cost-effectiveness compared to wood and benefits for environmental sustainability. Greystone aims to deliver high-quality pallets across various sectors, utilizing proprietary technology to keep production costs low while reducing waste.
Greystone Logistics, Inc. (OTCQB:GLGI) reported its fiscal year 2021 earnings, showing a net income of $3,030,165 ($0.11 per share), down from $4,301,585 ($0.15 per share) in 2020. Total sales decreased to $64,925,059 from $76,204,608, primarily due to a client supplying its own raw materials. EBITDA declined slightly from $12,152,793 in 2020 to $12,080,272. The company reduced its debt by approximately $5.9 million, and its $3 million loan under the CARES Act was forgiven, bolstering equity. The CEO cited strong demand for their pallets despite challenges from COVID-19 and rising plastic costs.
Greystone Logistics, Inc. (OTCQB:GLGI) reported its financial results for the nine and three months ending February 28, 2021. The company posted a net income of $2,366,837 ($0.08 per share) for nine months, down from $2,546,483 ($0.09 per share) year-over-year. Sales decreased by $10.3 million to $47.6 million, attributed to customer-driven pricing changes. Despite challenges from COVID-19, EBITDA rose to $9.4 million, reflecting strong demand for recycled plastic pallets. Additionally, Greystone secured $7.8 million in purchase orders in March 2021.