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. (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 its 2023 first quarter financial results will be released after market close on March 1, 2023. A conference call is scheduled for March 2, 2023, at 8:30 a.m. ET to discuss the results, featuring management remarks and a question and answer session. Conference call slides will accompany the earnings press release. Participants can register online to access the call and receive a confirmation with dial-in details. Greif is a leading provider of industrial packaging products and services, operating in over 35 countries.
Greif, Inc. (NYSE: GEF, GEF.B) announced the receipt of two prestigious awards recognizing its commitment to sustainability and corporate social responsibility. The company achieved an 'A-' rating for climate change from CDP, placing it in the 'Leadership' category. Additionally, Greif was named one of America's Most Responsible Companies by Newsweek for the fourth consecutive year. These accolades highlight Greif's dedication to reducing greenhouse gas emissions and managing environmental risks while adhering to best practices.
Greif announced the completion of its $300 million acquisition of Lee Container, enhancing its industrial packaging portfolio. The deal is expected to generate at least $6 million in synergies over the next 24 months. Lee Container will contribute positively to Greif's margins, cash flow, and earnings, with immediate diversification benefits. This strategic acquisition aligns with Greif's M&A strategy and aims to enhance growth in less cyclical markets.
Greif, Inc. (NYSE: GEF, GEF.B) announced its fourth quarter and fiscal year 2022 results, showcasing a net income of $99.5 million ($1.67/share) in Q4 and $376.7 million ($6.30/share) for the full year. Adjusted EBITDA increased to $218.7 million in Q4 and $917.5 million for the year. The company reported an increase in net cash provided by operating activities to $286.6 million in Q4 and $657.5 million for the year. Total debt decreased by $309.5 million, improving the leverage ratio to 1.73x. Greif also announced the acquisition of Lee Container Corporation for $300 million.
Greif, Inc. (NYSE: GEF, GEF.B) announced a quarterly cash dividend of $0.50 per share on its Class A Common Stock and $0.74 per share on Class B Common Stock. These dividends are set to be paid on January 1, 2023, to stockholders on record as of December 16, 2022. This announcement underscores Greif's commitment to returning value to shareholders while maintaining its position as a leader in industrial packaging products and services.
Greif, Inc. (NYSE: GEF, GEF.B) will release its 2022 fourth quarter financial results on December 7, 2022, following the market close. A conference call to discuss the results and 2023 outlook is scheduled for December 8, 2022, at 8:30 a.m. ET. The call will feature management commentary and a Q&A session. Registration is required for participation, and a digital replay will be available shortly after the call on the company's website.
Greif, Inc. (NYSE: GEF, GEF.B) reaffirmed its fiscal 2022 earnings guidance, estimating Class A EPS between $7.90 and $8.10 per share. This comes before the company's participation in the Baird Global Industrial Conference in Chicago. The reaffirmation is attributed to better-than-expected pricing in the fourth quarter, though this was offset by lower volumes, particularly in the EMEA and APAC regions due to energy inflation and COVID-19 challenges. The fiscal Q4 financial results will be announced after market close on December 7, 2022.
Greif, Inc. (NYSE: GEF, GEF.B) has announced a definitive agreement to acquire Lee Container Corporation for $300 million, aiming to enhance its position in the North American jerrycan market. The acquisition, expected to close by year-end 2022, is projected to generate $6 million in synergies within two years. Lee Container, which posted $162 million in sales and $33 million in adjusted EBITDA for the trailing twelve months ending September 30, 2022, is positioned in key growth sectors. The deal emphasizes Greif's strategy for ongoing growth in industrial packaging.
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