DELAWARE, Ohio, May 13, 2025 (GLOBE NEWSWIRE) -- Greif (NYSE: GEF, GEF.B), a global leader in industrial packaging products and services, is proud to announce it has been awarded the Supplier Innovation Award by the United States Postal Service (USPS). The Supplier Innovation Award celebrates partners who deliver creative, value-driven solutions that extend beyond contractual obligations. Greif earned this distinction for its part in introducing a custom double-walled corrugated pallet box to replace tradit ...

DELAWARE, Ohio, May 01, 2025 (GLOBE NEWSWIRE) -- Greif (NYSE: GEF, GEF.B), a global leader in industrial packaging products and services, announced today it will permanently close the paperboard mill in Los Angeles, California as part of its previously announced optimization efforts. The Los Angeles mill is expected to cease operation in June 2025. The mill, which produces both coated recycled paperboard (CRB) and uncoated recycled paperboard (URB) is expected to remove 50,000 tons of CRB and 22,000 tons of ...

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DELAWARE, Ohio, April 25, 2025 (GLOBE NEWSWIRE) -- Greif, Inc. (NYSE: GEF, GEF.B), a global leader in industrial packaging products and services, announced today it has been recognized with a Gold and Silver Stevie® Award in the Management - Manufacturing category of the Annual American Business Awards®. Ole Rosgaard, President and CEO of Greif, was awarded with a Gold Stevie Award for Achievement in Management – Manufacturing, and Greif was awarded with a Silver Stevie Award for Company of the Year - Large ...

A month has gone by since the last earnings report for Greif (GEF) . Shares have added about 1.3% in that time frame, outperforming the S&P 500.Will the recent positive trend continue leading up to its next earnings release, or is Greif due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its most recent earnings report in order to get a better handle on the important drivers.How Have Estimates Been Moving Since Then?It turns out, estimates r ...

DELAWARE, Ohio, March 18, 2025 (GLOBE NEWSWIRE) -- Greif, Inc. (NYSE: GEF, GEF.B), a world leader in industrial packaging products and services, announced today it is implementing a price increase between $50 and $70 per short ton for all grades of uncoated recycled paperboard (URB) products and a minimum 7.5 percent increase on all tube and core and protective packaging products. The uncoated recycled paperboard increase is effective with new orders and shipments on and after April 21, 2025. The tube and c ...

Core Insights - Greif, Inc. has been awarded the Gallup Exceptional Workplace Award (GEWA) for the second consecutive year, recognizing its best-in-class workplace [1] - The company emphasizes the importance of colleague engagement and performance-focused culture, which is reflected in its global workforce of over 14,000 employees [2][3] Company Overview - Greif is a global leader in industrial packaging products and services, producing a variety of packaging solutions including steel, plastic, and fiber drums, as well as intermediate bulk containers and other specialty products [4] - The company operates more than 250 facilities across 37 countries, aiming to provide exceptional customer service [4]

Financial Performance - Net income decreased 87.2% to $8.6 million or $0.15 per diluted Class A share compared to $67.2 million or $1.17 per diluted Class A share in the prior year quarter[6] - Net income attributable to Greif, Inc. decreased to $8.6 million, down 87.8% from $67.2 million in the prior year[31] - Net income for the three months ended January 31, 2025, was $14.4 million, a decrease of 80.6% compared to $74.3 million in the same period of 2024[39] - Net income for the trailing twelve months ended January 31, 2025, was $228.8 million, down from $360.3 million for the same period in 2024, representing a decrease of approximately 36.4%[48] - Basic earnings per share attributable to Greif, Inc. common shareholders for Class A common stock was $0.15, a decline of 87.9% from $1.17 in the same quarter of 2024[31] - The company reported a net cash used in operating activities of $30.8 million, compared to a net cash provided of $4.5 million in the same quarter of 2024[35] Revenue and Sales - Net sales for the three months ended January 31, 2025, were $1,265.8 million, an increase of 4.1% compared to $1,205.8 million in the same period of 2024[31] - Customized Polymer Solutions net sales increased by $67.1 million to $295.1 million, primarily due to $58.5 million from recent acquisitions[12] - Sustainable Fiber Solutions net sales increased by $32.6 million to $561.4 million, driven by $25.8 million from higher containerboard and boxboard prices[16] - The Durable Metal Solutions segment reported net sales of $342.2 million, a decrease of 7.6% from $370.5 million in the prior year[37] Adjusted EBITDA and Cash Flow - Adjusted EBITDA increased 5.9% to $145.1 million compared to $137.0 million in the prior year[6] - Total Adjusted EBITDA for the three months ended January 31, 2025, was $145.1 million, an increase of 5.9% compared to $137.0 million in the same period of 2024[37] - Adjusted EBITDA for the trailing twelve months ended January 31, 2025, was $712.4 million, a decline of 11.2% compared to $802.4 million for the same period in 2024[48] - Free cash flow for the three months ended January 31, 2025, was negative $66.5 million, compared to negative $51.1 million in the same period of 2024[43] - Projected free cash flow for fiscal 2025 is estimated at $220.0 million, with adjusted free cash flow expected to be $245.0 million[50] Debt and Liabilities - Total debt increased by $548.4 million to $2,840.2 million, primarily due to the acquisition of Ipackchem[6] - Total debt increased to $2,840.2 million as of January 31, 2025, from $2,291.8 million a year earlier, resulting in a net debt of $2,639.1 million[46] - The leverage ratio increased to 3.63x from 2.46x in the prior year quarter[6] - The leverage ratio increased to 3.63x as of January 31, 2025, compared to 2.46x a year earlier, showing a significant rise in leverage[48] - Total liabilities decreased to $4,375.8 million as of January 31, 2025, from $4,400.2 million as of October 31, 2024[33] Cost Management and Optimization - The company announced the closure of specific paperboard machines and mills as part of its cost optimization strategy, achieving $13.0 million in annual run-rate savings[6] - The company incurred non-cash asset impairment charges of $13.7 million during the quarter, compared to $1.3 million in the same period last year[31] - Restructuring charges amounted to $2.7 million for the three months ended January 31, 2025, compared to $5.7 million in the same period of 2024[39] - Cash paid for purchases of properties, plants, and equipment was $35.7 million for the three months ended January 31, 2025, down from $55.6 million in the prior year[43] Future Guidance - Fiscal 2025 low-end guidance for adjusted EBITDA is set at $710 million and adjusted free cash flow at $245 million[23] - Cash paid for purchases of properties, plants, and equipment is projected to be $171.0 million for fiscal 2025[50] - Cash paid for acquisition and integration-related costs is estimated at $17.0 million for fiscal 2025[50] - Cash paid for integration-related ERP systems and equipment is projected to be $6.0 million for fiscal 2025[50] - Cash paid for fiscal year-end change costs is estimated at $2.0 million for fiscal 2025[50]

Financial Data and Key Metrics Changes - Adjusted EBITDA for Q1 2025 was $145 million, an improvement of $7 million compared to the prior year quarter [28] - Adjusted EPS for the quarter was $0.39, lower than the prior year primarily due to a non-recurrence of a one-time tax benefit of $48 million and $14 million of higher interest expense [28] - Adjusted free cash flow was a net use of $62 million, slightly higher than the prior year due to increased interest expense [29] Business Line Data and Key Metrics Changes - Polymers segment saw a volume increase of 2.7%, driven by demand in small containers and IBC in the ag and food sectors, particularly in EMEA [20] - Integrated Solutions experienced low double-digit growth in both caps and closures and paints, linings, and adhesives [20] - Fiber volumes were slightly up, with operating rates in both paper grades in line with the industry [21] - Metals segment continued to be impacted by a soft industrial economy, particularly in bulk chemicals and petrochemicals [21] Market Data and Key Metrics Changes - EMEA demonstrated the highest level of resilience, followed by APAC, while LATAM showed a slight downward trend and North America had the most bearish demand sentiment [24] - The overall demand in boxboard remained flat year-on-year, with specific subsegments showing declines [84] Company Strategy and Development Direction - The company announced a $100 million cost optimization initiative and a commitment to achieve $1 billion in EBITDA and $500 million in free cash flow by 2027 [7][10] - The organizational realignment into seven Strategic Business Units (SBUs) aims to enhance growth and streamline operations [16] - The decision to sell the timber portfolio is part of a strategy to reduce debt and focus on core business areas [17][91] Management's Comments on Operating Environment and Future Outlook - Management expressed cautious optimism regarding future volume growth, particularly in polymer markets, but noted uncertainty in the overall demand environment [54][100] - The company is well-positioned for growth despite current industrial economic challenges, with expectations of significant EBITDA lift once the industrial economy recovers [103] Other Important Information - The company has identified $5 million in run rate savings as part of its cost optimization efforts, with expectations to achieve at least $15 million to $25 million by the end of fiscal 2025 [13] - The planned closure of two facilities will reduce containerboard mill capacity by 100,000 tons and URB capacity by 90,000 tons, expected to be EBITDA positive by 2027 [26][27] Q&A Session Summary Question: Fiber segment performance relative to expectations - Management indicated that fiber performance was in line with expectations, but SG&A allocation impacted perceived profitability [45][46] Question: Differences in demand between EMEA and North America - Management explained that EMEA's resilience is due to targeted growth in GDP plus markets, while North America faces more bearish sentiment [50][51] Question: SG&A margin expectations for Q2 - Management expects steady improvement in EBITDA margins through the year, with volume lift leveraging fixed costs [63] Question: Timberland sale details - Management stated that the timberland sale is aimed at reducing debt and maximizing value, with ongoing interest from potential buyers [66][91] Question: Competitive landscape in polymers and metals - Management noted that they focus on value over volume, maintaining market position despite competition [94] Question: End markets with the greatest confidence - Management expressed excitement about growth in agrochemical and food and beverage markets, while noting the long runway for pharma [100][102]

Greif, Inc (NYSE:GEF) Q1 2025 Results Conference Call February 27, 2025 8:30 AM ET Company Participants Bill D’Onofrio - VP, IR and Corporate Development Ole Rosgaard - Chief Executive Officer Larry Hilsheimer - Chief Financial Officer Conference Call Participants Ghansham Panjabi - Baird Matt Roberts - Raymond James Aadit Shrestha - Stifel Niko Pacini - Truist Richard Carlson - Wells Fargo Daniel Harriman - Sidoti & Company Operator Good day, and thank you for standing by. Welcome to the Greif First Quarte ...