Greif, Inc. (GEF) reported adjusted earnings per share (EPS) of $1.13 for fourth-quarter fiscal 2024 (ended Oct. 31, 2024), which surpassed the Zacks Consensus Estimate of $1.08. GEF’s bottom line declined 29% year over year as higher input and labor costs as well as selling, general and administrative expenses offset the gain from improved sales.Including one-time items, Greif’s EPS was $1.08 compared with $1.16 in the prior-year quarter.Find the latest EPS estimates and surprises on Zacks Earnings Calenda ...

Financial Data and Key Metrics Changes - The corrected Q4 net income excluding adjustments was $65.5 million, with diluted Class A earnings per share at $1.13, compared to the originally reported figures of $49.6 million and $0.85 per share [8][27]. - Fourth quarter adjusted EBITDA was $198 million, down from $202 million year-over-year [26]. - Adjusted free cash flow for Q4 was $145 million, an increase from $136 million in the previous year [27]. Business Line Data and Key Metrics Changes - In the GIP segment, adjusted EBITDA increased by $4 million, but EBITDA margins decreased by 70 basis points [31]. - The PPS segment experienced an adjusted EBITDA decline of $8 million and a margin decline of 240 basis points year-over-year, although sequentially, EBITDA margin improved by 220 basis points [32]. - Containerboard and corrugated volumes showed solid performance with operating rates over 90%, while URB and tube and core volumes lagged due to soft demand [33]. Market Data and Key Metrics Changes - EMEA remained the strongest region, although volumes were slightly down sequentially [22]. - North America saw a significant volume decline of almost 18% on a two-year basis, with GIP demand remaining choppy [23]. - LATAM showed improvement, while APAC continued to be soft, resulting in a neutral year-over-year demand impact [25]. Company Strategy and Development Direction - The company is focusing on optimizing its operating model to leverage core competitive advantages and aims to double its size in the future [11][12]. - The strategic business units will be organized around four material solutions: customized polymer solutions, durable metal solutions, sustainable fiber solutions, and integrated solutions [12]. - The company plans to invest further in polymer-based products and caps and closures, which are expected to grow over time [17]. Management's Comments on Operating Environment and Future Outlook - The management acknowledged the ongoing industrial contraction, which has lasted for 25 months, and emphasized the importance of this soft macroeconomic environment in formulating fiscal 2025 guidance [21][22]. - Despite the challenging environment, the company is outperforming market expectations in EMEA due to ongoing business model optimization [22]. - Management expressed confidence in the recovery of volumes in North America, attributing current softness to the extended demand contraction cycle [24]. Other Important Information - The company has allocated over $1 billion in capital for margin growth and acquisitions, and it is targeting at least $100 million in cost reductions by the end of fiscal 2027 [19][20]. - The company will provide further details on its new segments and financial highlights at the upcoming Investor Day [15][47]. Q&A Session Summary Question: Future investment areas beyond customized Polymer Solutions - Management indicated that while Polymer Solutions is a primary focus, investments will also be made in fiber-based and metals-based businesses, particularly in automation and caps and closures [52][54]. Question: Commentary on leverage perspective - Management expressed comfort with the current leverage ratio, noting that recovery in demand would quickly improve the ratio [56]. Question: Details on the $100 million cost reduction program - Management clarified that the program is not fixing anything broken but aims to enhance efficiency through SG&A rationalization, network optimization, and operating efficiencies [64][66]. Question: Volume assumptions for fiscal 2025 guidance - Management provided insights into expected volume uplifts in the containerboard and polymer solutions segments, while anticipating contraction in metal solutions [72][73]. Question: High-end scenario for fiscal 2025 guidance - Management refrained from providing a high-end guidance scenario due to uncertainty in the industrial recession's duration but noted potential drivers for upside [78][81]. Question: Demand trends for the new IBC plant in Malaysia - Management did not comment on individual plants but emphasized the overall growth in the premium end of the polymer market [87]. Question: Variance in Ipackchem relative to deal model - Management acknowledged a shortfall in Ipackchem's contribution compared to initial expectations but expressed confidence in long-term profitability [98][100]. Question: Impact of tariffs on volume outlook - Management indicated that tariffs would not significantly impact the business, as raw materials are sourced and produced locally [108]. Question: First quarter performance outlook - Management noted that the first quarter typically experiences a slower ramp-up, with some drag expected in the metals business due to decreasing steel prices [113].

(® PACKAGING SUCCESS TOGETHER® tic Drums Fiscal Fourth Quarter 2024 Earnings Conference Call December 5, 2024 Safe Harbor FORWARD-LOOKING STATEMENTS This presentation contains certain forward-looking information within the meaning of the Private Securities Litigation Reform Act of 1995. The words "may," "will," "expect," "intend," "estimate," "anticipate," "aspiration," "objective," "project," "believe," "continue," "on track" or "target" or the negative thereof and similar expressions, among others, identi ...

DELAWARE, Ohio, Dec. 04, 2024 (GLOBE NEWSWIRE) -- Greif, Inc. (NYSE: GEF, GEF.B), has issued a revised earnings release to correct an error in the previously issued press release titled “Greif Reports Fourth Quarter and Fiscal 2024 Results” (the “Prior Earnings Release”) issued on December 4, 2024 at 04:01 PM ET. In the Prior Earnings Release, the fourth quarter 2024 net income, excluding the impact of adjustments, incorrectly presented a $16.0 million income tax expense related to “(gain) loss on disposal ...

DELAWARE, Ohio, Dec. 04, 2024 (GLOBE NEWSWIRE) -- Correction: Fourth quarter 2024 net income, excluding the impact of adjustments, revised to $65.5 million and 2024 Class A diluted earnings per share, excluding adjustments, revised to $1.13. In the earnings release issued earlier today, the fourth quarter 2024 net income, excluding the impact of adjustments, incorrectly presented a $16.0 million income tax expense related to “(gain) loss on disposal of businesses, net”. This resulted in stating net income, ...

Greif (GEF) reported $1.42 billion in revenue for the quarter ended October 2024, representing a year-over-year increase of 8.3%. EPS of $0.85 for the same period compares to $1.56 a year ago.The reported revenue compares to the Zacks Consensus Estimate of $1.41 billion, representing a surprise of +0.34%. The company delivered an EPS surprise of -21.30%, with the consensus EPS estimate being $1.08.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street ex ...

Greif (GEF) came out with quarterly earnings of $0.85 per share, missing the Zacks Consensus Estimate of $1.08 per share. This compares to earnings of $1.56 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -21.30%. A quarter ago, it was expected that this industrial packaging company would post earnings of $1.17 per share when it actually produced earnings of $1.03, delivering a surprise of -11.97%.Over the last four quarters, ...

Analysts on Wall Street project that Greif (GEF) will announce quarterly earnings of $1.08 per share in its forthcoming report, representing a decline of 30.8% year over year. Revenues are projected to reach $1.42 billion, increasing 8.2% from the same quarter last year.The consensus EPS estimate for the quarter has remained unchanged over the last 30 days. This represents how the covering analysts, as a whole, have reassessed their initial estimates during this timeframe.Before a company announces its earn ...

I don't know about you, but I have always been interested in the packaging industry. One of the firms in this space that I have liked for some time is Greif, Inc. (NYSE: Crude Value Insights offers you an investing service and community focused on oil and natural gas. We focus on cash flow and the companies that generate it, leading to value and growth prospects with real potential. Subscribers get to use a 50+ stock model account, in-depth cash flow analyses of E&P firms, and live chat discussion of the se ...

DELAWARE, Ohio, Oct. 02, 2024 (GLOBE NEWSWIRE) -- Greif, Inc. (NYSE: GEF, GEF.B), a global leader in industrial packaging products and services, today announced that it has been recognized as a Top 100 Most Loved Workplace for the fourth consecutive year by Newsweek. "We are honored to be recognized as one of Newsweek's Top 100 Most Loved Workplaces for the fourth consecutive year," said Ole Rosgaard, Greif President and Chief Executive Officer. "This recognition is a testament to our employees' dedication ...