Greif (GEF) Q1 Earnings Beat Estimates, Sales Decline Y/Y

Greif, Inc. (GEF) reported adjusted earnings per share of $1.27 for first-quarter fiscal 2024, beating the Zacks Consensus Estimate of 20 cents. The bottom line increased 20% year over year.Including one-time items, EPS was$ 1.75 in the quarter compared with $2.31 in the prior-year quarter.Operational UpdateSales moved down 5.1% year over year to$ 1.20 billion due to lower volumes and average selling prices. However, the top line beat the Zacks Consensus Estimate of $1.19 billion.The cost of sales declined ...