earnings
confidence high
sentiment positive
materiality 0.75
Greif Q2 adjusted EPS $2.41 vs $1.13 YoY; EBITDA $251M; leverage down to 2.12x
GREIF, INC
- Net income $125.1M ($2.09/diluted share) vs $149.8M ($2.51) prior year, which included a $95.7M timberland gain.
- Adjusted net income $144.9M ($2.41/diluted share) vs $67.3M ($1.13); Adjusted EBITDA $251.0M, up $74.4M.
- Total debt decreased $213.5M to $2,099.9M; net debt $1,991.2M; leverage ratio improved to 2.12x from 3.20x.
- Completed divestiture of 50% interest in Flexible Products & Services JV for $131.6M; proceeds used for debt repayment.
- Redeemed $500M 6.5% Senior notes due 2027; refinancing lowered interest rate by over 300 basis points.