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Greif, Inc. (GEF) is a global leader in industrial packaging products and services, with a history dating back to 1877. The company specializes in the production of a wide range of packaging solutions including steel, plastic, and fiber drums, intermediate bulk containers, and flexible products. Greif also manufactures containerboard, corrugated sheets, and a diverse array of specialty products.
Headquartered in Delaware, Ohio, Greif's operations are strategically positioned in over 35 countries, enabling the company to effectively serve both global and regional customers. Greif's three main business segments are Global Industrial Packaging, Paper Packaging and Services, and Land Management. These segments allow the company to address various market needs, from packaging and logistics to timber property management in North America.
In recent developments, Greif has partnered with IonKraft to explore innovative plasma-based coating technology aimed at improving the recyclability of industrial plastic packaging. Additionally, the company's new facility in Dallas, Texas, is set to expand its bulk corrugated business, bolstering its capacity to meet customer demands across the South and Southwest regions of the United States and Mexico.
Greif is also deeply committed to community initiatives and corporate social responsibility. The company has a longstanding tradition of supporting charitable organizations focused on education, health, and social services. Through collaborations such as the Greif Blocked Shots Platform, Greif is actively contributing to the well-being of communities in Central Ohio.
Financially, Greif continues to demonstrate robust performance. The company is scheduled to report its second-quarter financial results for 2024 on June 5, 2024, with a conference call to discuss the results the following day. The company remains focused on its vision to be the best-performing customer service company in the world, providing durable and sustainable packaging solutions across various industries.
Greif, Inc. (NYSE: GEF, GEF.B) announced a price increase on select products effective March 4, 2021. This includes a $50 per ton rise for uncoated recycled paperboard, $70 per ton for recycled and semi-chemical medium, and $60 per ton for recycled linerboard. The decision comes as a response to strong demand and rising production and transportation costs. Greif, a leader in industrial packaging, continues to strengthen its market position across over 40 countries.
Greif announced its fourth quarter and fiscal year 2020 results, highlighting a net income of $44.4 million ($0.74 per diluted Class A share), down from $65.0 million ($1.09 per share) in Q4 2019. Fiscal year net income also decreased to $108.8 million ($1.83 per share) from $171.0 million ($2.89 per share). Adjusted EBITDA dropped to $154.5 million for Q4 and $642.6 million for the fiscal year. However, adjusted free cash flow improved to $173.9 million for Q4 and $346.2 million for the year. The company maintained a Gold Rating in sustainability for the third consecutive year.
Greif, Inc. (NYSE: GEF, GEF.B) announced quarterly cash dividends of $0.44 per share for Class A Common Stock and $0.65 per share for Class B Common Stock, payable on January 1, 2021. Shareholders on record by December 18, 2020 will receive the dividends. Greif is a leader in industrial packaging, producing a wide range of products and services across over 40 countries, aiming to enhance customer service.
Greif, Inc. (NYSE: GEF, GEF.B) announced a new $225 million delayed draw term loan with a maturity date in 2026, aimed at refinancing existing senior notes. The loan will likely have an initial interest rate of approximately 2.5% per annum, expected to remain under 3% at maturity. Greif's Vice President stated that this financing enhances the company's financial flexibility. The term loan will be drawn in July 2021 to refinance Euro 200 million senior notes due that month, marking a significant step in Greif's financial strategy.
Greif, Inc. (NYSE: GEF, GEF.B) is set to announce its 2020 fourth-quarter financial results after market close on December 9, 2020. A conference call will follow on December 10, 2020, at 8:30 a.m. ET, which will include management remarks and a Q&A session. Participants can register via an online link, with phone lines opening at 8:00 a.m. ET on the call date. Greif specializes in industrial packaging, providing a range of products and services across over 40 countries.
Greif, Inc. (NYSE: GEF, GEF.B) has announced a $50 per ton price increase for all grades of uncoated recycled paperboard (URB), effective from November 9, 2020. This decision is driven by rising costs in transportation, insurance, labor, and chemicals, alongside a shifting supply-demand balance within the company's paperboard network. Greif is a leader in industrial packaging solutions, producing a range of products across more than 40 countries.
Greif, Inc. (NYSE: GEF, GEF.B) has achieved a Gold Rating in sustainability performance from EcoVadis for the third consecutive year, placing it in the top three percent of evaluated suppliers. EcoVadis assesses over 65,000 suppliers based on 21 CSR criteria across four themes: Environment, Labor & Human Rights, Ethics, and Sustainable Procurement. Greif's President, Pete Watson, emphasized the company’s strong commitment to sustainability, which is integral to its business strategy. This acknowledgment highlights Greif’s ongoing efforts to enhance its sustainability practices.
Greif, a leader in industrial packaging, reported its Q3 2020 results, revealing a net income of $20.7 million ($0.35 per diluted Class A share), significantly down from $62.7 million ($1.06 per share) a year earlier. Adjusted EBITDA fell by $44.4 million to $159.4 million, with net cash from operations decreasing to $135 million. Total debt decreased by $240.9 million, reflecting improved working capital and cost discipline. Guidance was reintroduced for FY 2020, with expectations of continued uncertainty due to COVID-19's impact on markets.
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