earnings
confidence high
sentiment negative
materiality 0.80
Greif Q1 net income down 87% to $0.15; Adj EBITDA up 6%; plans timberland sale for debt cut
GREIF, INC
- Net income $8.6M ($0.15 diluted Class A EPS), vs $67.2M ($1.17) a year ago, down 87.2%.
- Adjusted EBITDA rose 5.9% to $145.1M; adjusted free cash flow negative $61.9M.
- Intends to divest ~176,000 acres of Southeastern US timberland; proceeds to reduce debt.
- Closure of Austell, GA paperboard machine and Fitchburg, MA mill; $13M annual cost savings achieved.
- Total debt $2.84B, net debt $2.64B; leverage ratio climbed to 3.63x from 2.46x.