Financial Performance - The Company reported total net sales of $5,448.1 million for the fiscal year ended October 31, 2024, compared to $5,405.7 million in the previous year, reflecting a slight increase[37]. - Total operating profit for 2024 was $464.6 million, a decrease of 23.3% from $605.5 million in 2023[39]. - Total capital expenditures for 2024 were $174.2 million, down 20.2% from $218.2 million in 2023[39]. - Depreciation, depletion, and amortization expense increased to $261.3 million in 2024 from $230.6 million in 2023, reflecting a rise of 13.3%[39]. Segment Performance - The Global Industrial Packaging segment generated net sales of $3,124.3 million, while Paper Packaging & Services contributed $2,303.5 million, and Land Management accounted for $20.3 million[37]. - Global Industrial Packaging segment reported an operating profit of $341.1 million, up from $334.3 million in 2023, while Paper Packaging & Services segment saw a decline to $115.6 million from $264.1 million[39]. Shareholder Information - The average Class A shares outstanding increased to 25,751,386 in 2024 from 25,592,928 in 2023, while diluted shares decreased slightly to 25,977,401[28]. - The Company’s basic Class A EPS was calculated using a two-class method, reflecting a 40% to 60% split between Class A and Class B shareholders[24]. - Basic Class A shares outstanding increased to 25,751,386 in 2024 from 25,592,928 in 2023[28]. Cash Flow and Liabilities - Operating cash flows used for operating liabilities amounted to $71.9 million in 2024, up from $64.3 million in 2023[32]. - The Company’s lease liabilities included $69.6 million in new operating lease liabilities and $6.4 million in new finance lease liabilities for the year ended October 31, 2024[32]. - Leased assets obtained in exchange for new operating lease liabilities were $69.6 million in 2024, down from $95.0 million in 2023[32]. Other Comprehensive Loss and Accruals - The Company’s accumulated other comprehensive loss at year-end was $114.3 million, an increase from $109.2 million at the beginning of the year[20]. - As of October 31, 2024, the Company accrued $9.8 million for the Diamond Alkali Superfund Site, indicating potential future charges that could impact earnings[23]. - The Company accrued $9.8 million for the Diamond Alkali Superfund Site as of October 31, 2024[23]. Timber Management - The Company operates on approximately 175,000 acres of timber properties, focusing on sustainable long-term yields through active harvesting and regeneration[35]. - The company aims to maintain a consistent cutting schedule for timber sales, despite market and weather fluctuations[35]. - The value of timberland is assessed based on various factors, including proximity to population centers and anticipated growth, requiring ongoing review and re-characterization[36]. Employee Benefits - The Company’s contributions to 401(k) plans were $29.0 million in 2024, slightly down from $29.1 million in 2023[21].

Greif, Inc. (GEF) reported adjusted earnings per share (EPS) of $1.13 for fourth-quarter fiscal 2024 (ended Oct. 31, 2024), which surpassed the Zacks Consensus Estimate of $1.08. GEF’s bottom line declined 29% year over year as higher input and labor costs as well as selling, general and administrative expenses offset the gain from improved sales.Including one-time items, Greif’s EPS was $1.08 compared with $1.16 in the prior-year quarter.Find the latest EPS estimates and surprises on Zacks Earnings Calenda ...

Financial Data and Key Metrics Changes - The corrected Q4 net income excluding adjustments was $65.5 million, with diluted Class A earnings per share at $1.13, compared to the originally reported figures of $49.6 million and $0.85 per share [8][27]. - Fourth quarter adjusted EBITDA was $198 million, down from $202 million year-over-year [26]. - Adjusted free cash flow for Q4 was $145 million, an increase from $136 million in the previous year [27]. Business Line Data and Key Metrics Changes - In the GIP segment, adjusted EBITDA increased by $4 million, but EBITDA margins decreased by 70 basis points [31]. - The PPS segment experienced an adjusted EBITDA decline of $8 million and a margin decline of 240 basis points year-over-year, although sequentially, EBITDA margin improved by 220 basis points [32]. - Containerboard and corrugated volumes showed solid performance with operating rates over 90%, while URB and tube and core volumes lagged due to soft demand [33]. Market Data and Key Metrics Changes - EMEA remained the strongest region, although volumes were slightly down sequentially [22]. - North America saw a significant volume decline of almost 18% on a two-year basis, with GIP demand remaining choppy [23]. - LATAM showed improvement, while APAC continued to be soft, resulting in a neutral year-over-year demand impact [25]. Company Strategy and Development Direction - The company is focusing on optimizing its operating model to leverage core competitive advantages and aims to double its size in the future [11][12]. - The strategic business units will be organized around four material solutions: customized polymer solutions, durable metal solutions, sustainable fiber solutions, and integrated solutions [12]. - The company plans to invest further in polymer-based products and caps and closures, which are expected to grow over time [17]. Management's Comments on Operating Environment and Future Outlook - The management acknowledged the ongoing industrial contraction, which has lasted for 25 months, and emphasized the importance of this soft macroeconomic environment in formulating fiscal 2025 guidance [21][22]. - Despite the challenging environment, the company is outperforming market expectations in EMEA due to ongoing business model optimization [22]. - Management expressed confidence in the recovery of volumes in North America, attributing current softness to the extended demand contraction cycle [24]. Other Important Information - The company has allocated over $1 billion in capital for margin growth and acquisitions, and it is targeting at least $100 million in cost reductions by the end of fiscal 2027 [19][20]. - The company will provide further details on its new segments and financial highlights at the upcoming Investor Day [15][47]. Q&A Session Summary Question: Future investment areas beyond customized Polymer Solutions - Management indicated that while Polymer Solutions is a primary focus, investments will also be made in fiber-based and metals-based businesses, particularly in automation and caps and closures [52][54]. Question: Commentary on leverage perspective - Management expressed comfort with the current leverage ratio, noting that recovery in demand would quickly improve the ratio [56]. Question: Details on the $100 million cost reduction program - Management clarified that the program is not fixing anything broken but aims to enhance efficiency through SG&A rationalization, network optimization, and operating efficiencies [64][66]. Question: Volume assumptions for fiscal 2025 guidance - Management provided insights into expected volume uplifts in the containerboard and polymer solutions segments, while anticipating contraction in metal solutions [72][73]. Question: High-end scenario for fiscal 2025 guidance - Management refrained from providing a high-end guidance scenario due to uncertainty in the industrial recession's duration but noted potential drivers for upside [78][81]. Question: Demand trends for the new IBC plant in Malaysia - Management did not comment on individual plants but emphasized the overall growth in the premium end of the polymer market [87]. Question: Variance in Ipackchem relative to deal model - Management acknowledged a shortfall in Ipackchem's contribution compared to initial expectations but expressed confidence in long-term profitability [98][100]. Question: Impact of tariffs on volume outlook - Management indicated that tariffs would not significantly impact the business, as raw materials are sourced and produced locally [108]. Question: First quarter performance outlook - Management noted that the first quarter typically experiences a slower ramp-up, with some drag expected in the metals business due to decreasing steel prices [113].

DELAWARE, Ohio, Dec. 04, 2024 (GLOBE NEWSWIRE) -- Correction: Fourth quarter 2024 net income, excluding the impact of adjustments, revised to $65.5 million and 2024 Class A diluted earnings per share, excluding adjustments, revised to $1.13. In the earnings release issued earlier today, the fourth quarter 2024 net income, excluding the impact of adjustments, incorrectly presented a $16.0 million income tax expense related to “(gain) loss on disposal of businesses, net”. This resulted in stating net income, ...

Greif (GEF) reported $1.42 billion in revenue for the quarter ended October 2024, representing a year-over-year increase of 8.3%. EPS of $0.85 for the same period compares to $1.56 a year ago.The reported revenue compares to the Zacks Consensus Estimate of $1.41 billion, representing a surprise of +0.34%. The company delivered an EPS surprise of -21.30%, with the consensus EPS estimate being $1.08.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street ex ...

Analysts on Wall Street project that Greif (GEF) will announce quarterly earnings of $1.08 per share in its forthcoming report, representing a decline of 30.8% year over year. Revenues are projected to reach $1.42 billion, increasing 8.2% from the same quarter last year.The consensus EPS estimate for the quarter has remained unchanged over the last 30 days. This represents how the covering analysts, as a whole, have reassessed their initial estimates during this timeframe.Before a company announces its earn ...

I don't know about you, but I have always been interested in the packaging industry. One of the firms in this space that I have liked for some time is Greif, Inc. (NYSE: Crude Value Insights offers you an investing service and community focused on oil and natural gas. We focus on cash flow and the companies that generate it, leading to value and growth prospects with real potential. Subscribers get to use a 50+ stock model account, in-depth cash flow analyses of E&P firms, and live chat discussion of the se ...

DELAWARE, Ohio, Oct. 02, 2024 (GLOBE NEWSWIRE) -- Greif, Inc. (NYSE: GEF, GEF.B), a global leader in industrial packaging products and services, today announced that it has been recognized as a Top 100 Most Loved Workplace for the fourth consecutive year by Newsweek. "We are honored to be recognized as one of Newsweek's Top 100 Most Loved Workplaces for the fourth consecutive year," said Ole Rosgaard, Greif President and Chief Executive Officer. "This recognition is a testament to our employees' dedication ...

Core Viewpoint - Greif, Inc. has opened a new facility in Pasir Gudang, Johor, aimed at expanding its business and enhancing its packaging solutions while maintaining quality and sustainability standards [1][2]. Group 1: New Facility and Capabilities - The new factory in Pasir Gudang will produce Intermediate Bulk Containers for various industries, including food, chemicals, and lubricants, utilizing advanced manufacturing technologies [2]. - The facility is expected to contribute to regional growth by creating job opportunities, supported by Johor's robust infrastructure [3]. Group 2: Recent Investments - In March 2024, Greif acquired IPACKCHEM, a leader in premium barrier and non-barrier jerry cans, which is anticipated to positively impact Greif's EBITDA margin and free cash flow [4]. - In October 2023, the company acquired Reliance Products, enhancing its portfolio with high-performance barrier technologies [5]. Group 3: Financial Performance - For Q3 fiscal 2024, Greif reported adjusted EPS of $1.03, missing the consensus estimate of $1.17, with a year-over-year decline of 41.1% [6]. - Sales increased by 9.3% year-over-year to $1.45 billion, surpassing the consensus estimate of $1.42 billion, driven by higher volumes and recent acquisitions [6]. Group 4: Future Estimates - The Zacks Consensus Estimate for Q4 fiscal 2024 earnings is $1.07 per share, indicating a decline from the prior year's EPS of $1.56, with revenue expectations of $1.42 billion, reflecting an 8.4% growth year-over-year [7]. Group 5: Share Price Performance - Greif's shares have decreased by 11.5% over the past year, contrasting with the industry's growth of 23.1% [8].

Have you looked into how Greif (GEF) performed internationally during the quarter ending July 2024? Considering the widespread global presence of this industrial packaging company, examining the trends in international revenues is essential for assessing its financial resilience and prospects for growth. In the current global economy, which is more interconnected than ever, a company's success in penetrating international markets is crucial for its financial health and growth journey. Investors must underst ...