secwatch.observer — SEC 8-K summary
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Issuer:     GREIF, INC (GEF)
CIK:        0000043920
Form:       8-K
Filed at:   2022-03-04T23:59:59+00:00
Accession:  0000043920-22-000020
Event type: earnings
Sentiment:  positive
Materiality: 0.85
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Greif Q1 adjusted EPS $1.28, record EBITDA; divests FPS JV for $123M; raises FY22 guidance
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- Net income $10.3M ($0.18 GAAP EPS) vs $23.4M; adjusted net income $75.6M ($1.28) up from $0.61.
- Adjusted EBITDA record $196.8M, up $58.3M YoY; leverage ratio improved to 2.39x from 3.79x.
- Agreed to sell 50% stake in Flexible Products & Services JV to Gulf Refined Packaging for $123M; close by March 31.
- Redeemed $500M 6.5% senior notes; refinanced credit facilities with ESG-linked pricing; ~$15M annual interest savings.
- Fiscal 2022 guidance raised due to strong start and positive outlook.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/43920/000004392022000020/0000043920-22-000020-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/43920/000004392022000020/gef-20220304.htm
  HTML page:      https://secwatch.observer/filing/0000043920-22-000020

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer