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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) reported its second quarter 2022 results, revealing a net income of $125.1 million ($2.09 per diluted Class A share), down from $149.8 million ($2.51 per diluted Class A share) a year earlier, affected by a prior year timberland sale gain. Adjusted EBITDA increased to $251.0 million, up $74.4 million from last year. The company's debt decreased by $213.5 million to $2.1 billion, with a leverage ratio improvement to 2.12x. Additionally, quarterly dividends of $0.46 and $0.69 for Class A and Class B shares were declared, payable on July 1, 2022.
Greif, Inc. (NYSE: GEF, GEF.B) has announced quarterly cash dividends of $0.46 per share for Class A Common Stock and $0.69 for Class B Common Stock. The dividends are set to be paid on July 1, 2022, to stockholders on record as of June 17, 2022. This move reflects Greif's commitment to return value to its shareholders while maintaining its operational strategy as a leader in industrial packaging.
Greif, Inc. (NYSE: GEF, GEF.B) will release its Q2 2022 financial results on June 8, 2022, after market close, followed by a conference call on June 9, 2022, at 8:30 a.m. ET. This event will include management remarks and a Q&A session. Interested participants can register online to receive dial-in details. Greif, a leader in industrial packaging, aims for superior customer service and operates in over 35 countries, providing a range of packaging products and services. More information is available on their official website.
Greif, Inc. (NYSE: GEF, GEF.B) announced a $50 per ton price increase for all grades of uncoated recycled paperboard (URB) and coated recycled paperboard (CRB). This increase, effective June 6, 2022, is attributed to rising costs in transportation, energy, labor, and raw materials amid strong demand in the Greif paperboard network. The company continues to adapt to inflationary pressures while aiming to enhance its service offerings across over 35 countries.
Greif, Inc. (NYSE: GEF, GEF.B) has finalized the divestiture of its Flexible Packaging joint venture (FPS) for $123 million to Gulf Refined Packaging. This strategic move aligns with Greif's Build to Last Strategy and aims to enhance financial strength through debt repayment. The transaction is expected to positively influence Greif's earnings guidance for Fiscal 2022. CEO Ole Rosgaard expressed gratitude to FPS employees and emphasized the importance of this divestiture for the company's future.
Greif, a leader in industrial packaging, announced its first-quarter 2022 results, revealing a net income decrease to $10.3 million or $0.18 per diluted share, down from $23.4 million or $0.40 the previous year. However, adjusted net income rose to $75.6 million, or $1.28 per diluted share. Adjusted EBITDA increased by $58.3 million to $196.8 million, while net cash from operations improved by $10.9 million to $22.4 million. The company reduced total debt by $242.6 million to $2.3 billion, achieving a leverage ratio of 2.39x. A strategic divestiture of its joint venture is set for March 31, 2022.
Greif, Inc. (NYSE: GEF, GEF.B) announced the election of Karen Morrison and Kim Scott to its Board of Directors, enhancing governance and operational expertise. Morrison, with her background in healthcare and governance, brings valuable stakeholder engagement skills, while Scott contributes extensive operational experience from her tenure at Aramark and Terminix. Both directors aim to support Greif's vision of excelling in customer service and operational strategy across its global industrial packaging services.
Greif, Inc. (NYSE: GEF, GEF.B) has declared quarterly cash dividends of $0.46 per share for Class A Common Stock and $0.69 per share for Class B Common Stock, payable on April 1, 2022. Stockholders must be on record by the close of business on March 17, 2022. Greif, a leader in industrial packaging, aims to excel in customer service while providing various packaging solutions and services globally. Operating in 40 countries, the company continues to focus on meeting diverse customer needs.
Greif, a global leader in industrial packaging, will announce its 2022 Q1 financial results on March 2, 2022, after market close. A conference call with management will take place on March 3, 2022, at 8:30 a.m. ET. The call will include remarks and a Q&A session. Investors can register for the call online, and a replay will be available on the company's website. Greif operates in 40 countries and offers a wide range of industrial packaging products and services.
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