Greif reaffirms FY2023 adjusted EBITDA guidance of $790M-$820M; notes ongoing volume softness

GREIF, INC

Reaffirmed FY2023 adjusted EBITDA guidance range of $790M to $820M.
Global Industrial Packaging (GIP) volumes soft in all regions, no positive inflection through October; steel cost declines pressure margins.
Paper Packaging & Services (PPS) converting and mill volumes down mid-single digits YoY through Q4; containerboard volumes improved in October but OCC costs rising.
Fiscal Q4 2023 results to be reported after market close on December 6, 2023; conference call on December 7.
Company presenting at Baird Global Industrial Conference on November 8, 2023; materials accessible on website.

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