Greif Q3 net income down 36% to $90.3M; adjusted EPS $1.75; acquires 51% of ColePak; raises dividend

GREIF, INC

GAAP net income $90.3M ($1.55 diluted Class A EPS) vs $141.8M ($2.36) last year.
Adjusted net income $102.1M ($1.75 diluted Class A EPS) vs $141.7M ($2.35); adjusted EBITDA $226.5M vs $251.0M.
Acquired 51% stake in ColePak (partition manufacturer) on Aug 23, 2023; terms not disclosed.
Quarterly dividend raised by $0.02 to $0.44 (Class A) and $0.03 to $0.66 (Class B); payable Oct 1.
Net debt $2,013.8M; leverage ratio 2.17x, down from 2.25x sequentially, within 2.0-2.5x target.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

GREIF, INC reported third quarter 2023 results: net income Net income of $90.3 million or $1.55 per diluted Class A share, EPS net income of $141.8 million or $2.36 per diluted Class A share.

Period: third quarter 2023
Net income: Net income of $90.3 million or $1.55 per diluted Class A share
EPS: net income of $141.8 million or $2.36 per diluted Class A share
Result: reported results

Exact text from the filing

Greif Reports Third Quarter 2023 Results DELAWARE, Ohio (August 30, 2023) – Greif, Inc. (NYSE: GEF, GEF.B), a global leader in industrial packaging products and services, today announced third quarter 2023 results. Third Quarter Financial Highlights include (all results compared to the third quarter of 2022 unless otherwise noted): • Net income of $90.3 million or $1.55 per diluted Class A share decreased compared to net income of $141.8 million or $2.36 per diluted Class A share.

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24 earnings releases filed in the last 30 days. Browse all earnings releases →

GREIF, INC filing history →

Source: SEC EDGAR

accession 0000043920-23-000051

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