Greif (GEF) Tops Q2 Earnings and Revenue Estimates

Company Performance - Greif reported quarterly earnings of $0.82 per share, exceeding the Zacks Consensus Estimate of $0.77 per share, but down from $1.77 per share a year ago, indicating an earnings surprise of 6.49% [1] - The company achieved revenues of $1.37 billion for the quarter ended April 2024, surpassing the Zacks Consensus Estimate by 4.76% and up from $1.31 billion year-over-year [2] - Over the last four quarters, Greif has consistently surpassed consensus EPS estimates and topped revenue estimates twice [2] Market Context - Greif shares have declined approximately 3.5% since the beginning of the year, contrasting with the S&P 500's gain of 10.9% [3] - The Containers - Paper and Packaging industry, to which Greif belongs, is currently ranked in the bottom 41% of over 250 Zacks industries, suggesting potential challenges ahead [8] Future Outlook - The current consensus EPS estimate for the upcoming quarter is $1.08 on revenues of $1.39 billion, while the estimate for the current fiscal year is $4 on revenues of $5.28 billion [7] - The estimate revisions trend for Greif is mixed, leading to a Zacks Rank 3 (Hold), indicating expected performance in line with the market in the near future [6]