Greif Inc. Containerboard Divestment Conference Call Summary Company Overview - **Company**: Greif Inc. (GEF) - **Event**: Containerboard Divestment Conference Call - **Date**: July 01, 2025 Key Points Industry and Company Focus - **Divestment Announcement**: Greif announced the divestment of its containerboard business for **$1.8 billion** [4] - **Strategic Rationale**: The divestment aligns with Greif's "build to last" strategy, aimed at enhancing capital efficiency and focusing on high-margin packaging solutions [4][6] - **Remaining Portfolio**: Post-divestment, Greif will concentrate on its URB (Unbleached Recycled Board) business and polymer-based solutions, which are expected to grow faster than GDP [8][9] Financial Implications - **EBITDA and Cash Flow Goals**: Greif aims to achieve **$1 billion** in EBITDA and **$500 million** in free cash flow by 2027 [5] - **Debt Reduction**: 100% of the proceeds from the divestment will be used to pay down debt, positioning Greif with a leverage ratio below **2.0 times** [5][10] - **Cost Savings**: The divestment is expected to lower annual interest expenses by **$85 million** and recurring maintenance capital expenditures by **$25 million** [11] Market Position and Strategy - **Focus on Leadership**: Greif aims to maintain a number one or two position in its chosen markets, emphasizing that it was not a leader in the containerboard market [22][23] - **Growth Areas**: The company is targeting growth in high-margin sectors such as food and beverage, pharmaceuticals, and agrochemicals [9][12] - **Capital Allocation**: Greif will continue to prioritize safety and maintenance CapEx while also increasing shareholder returns through dividends and share repurchases [11][12] Future Outlook - **Growth Opportunities**: Greif is committed to pursuing high-return organic capital expenditures and strategic M&A opportunities within its targeted growth areas [12][41] - **EBITDA Growth Drivers**: The company has identified several drivers to achieve its EBITDA target, including volume growth and business optimization [13][14] - **Market Trends**: North America remains sluggish, particularly in metal markets, but acquired companies in the agricultural space are performing well [90][91] Additional Considerations - **Regulatory Approvals**: The transaction is subject to customary conditions, including regulatory approvals, which may affect the closing timeline [6] - **Synergies and Cost Structure**: Greif will work on optimizing support functions and addressing overhead costs post-divestment [37][65] - **Market Dynamics**: The company expects to be a net seller in the open market for OCC (Old Corrugated Containers) after the divestment, which may impact its business dynamics [61] Conclusion - Greif's divestment of its containerboard business marks a significant strategic shift aimed at enhancing shareholder value and focusing on high-growth, high-margin opportunities. The company is committed to maintaining financial discipline while pursuing growth in its remaining business segments.

Group 1 - CareTrust REIT (NYSE: CTRE) is positioned favorably compared to other healthcare REITs that are experiencing a sectoral cool-off due to reduced funding for biotech and life sciences R&D [1] - The company focuses on senior and assisted living, which remains a stable segment within the healthcare real estate investment trust market [1]

Key Takeaways STZ's beer business, nearly 83% of sales, is expected to grow 0-3% in fiscal 2026. A multi-year plan aims to revive wine and spirits with high-end offerings and better margins. STZ plans to drive growth through brand-building, innovation, premiumization and cost savings.Constellation Brands, Inc. (STZ) is a powerhouse in the alcoholic beverage industry, with balanced presence across beer, wine and spirits. The company continues to prioritize premiumization, brand strength and portfolio optim ...

Group 1 - The investment thesis for Super Micro Computer (SMCI) is characterized as a Hold case, with a long-term fundamental buy bias and valuation concerns noted [1] - The company is considered suitable for aggressive and risk-tolerant investors due to the high risks involved [1] - The analyst emphasizes a focus on equity valuation, market trends, and portfolio optimization to identify high-growth investment opportunities [1] Group 2 - The analyst has over 20 years of experience in quantitative research, financial modeling, and risk management, indicating a strong background in the field [1] - There is a particular interest in macroeconomic trends, corporate earnings, and financial statement analysis, which aims to provide actionable ideas for investors [1]

Key Takeaways STWD continues to earn stable income from its $1.02B CMBS and CRE debt portfolio. The 2024 divestitures, including $387.1M in retail sales, generated above $100M in total gains. Expenses rose, seeing a 19.9% CAGR since 2020, and liquidity is tight with $17.6B debt vs. $447.6M cash.Starwood Property Trust, Inc. (STWD) is gaining from its steady income through investments in commercial mortgage-backed securities (CMBS) and commercial real estate (CRE) debt. Its portfolio optimization through a ...

Key Takeaways BKR is acquiring pressure management firm CDC for $540M in an all-cash deal announced on June 16, 2025. CDC brings 80% recurring revenues and safety-critical products across key industrial sectors. BKR expects immediate accretion to EPS, cash flow, and margins in its IET unit.Baker Hughes Company (BKR) ), a leading energy technology company, has announced the acquisition of Continental Disc Corporation (“CDC”), a Liberty, Missouri-based leader in pressure management solutions, for $540 milli ...

Group 1 - Trip.com Group Limited has entered into a share repurchase agreement with MakeMyTrip Limited to sell a portion of its Class B ordinary shares for cancellation, aiming to optimize its investment portfolio and enhance shareholder returns [1] - After the proposed repurchase, Trip.com Group will remain the largest minority shareholder of MakeMyTrip and continue to support its growth [1] - To fund the repurchase, MakeMyTrip has launched an offering of convertible senior notes and a concurrent underwritten public offering of ordinary shares, with Trip.com Group agreeing to a 180-day lock-up period [1] Group 2 - Trip.com Group Limited is a leading global one-stop travel platform, offering a comprehensive suite of travel products and services [2] - The company operates under various brands, including Ctrip, Qunar, Trip.com, and Skyscanner, and aims to provide travelers with informed and cost-effective travel bookings [2] - Founded in 1999, Trip.com Group was listed on Nasdaq in 2003 and on HKEX in 2021, with a mission to pursue the perfect trip for a better world [2]

Group 1 - Trip.com Group Limited has entered into a share repurchase agreement with MakeMyTrip Limited to sell a portion of its Class B ordinary shares for cancellation, aiming to optimize its investment portfolio and enhance shareholder returns [1] - After the proposed repurchase, Trip.com Group will remain the largest minority shareholder of MakeMyTrip and continue to support its growth [1] - To fund the repurchase, MakeMyTrip has launched an offering of convertible senior notes and a concurrent underwritten public offering of ordinary shares, with Trip.com Group agreeing to a 180-day lock-up period [1] Group 2 - Trip.com Group Limited is a leading global one-stop travel platform, offering a comprehensive suite of travel products and services [2] - The company operates under various brands, including Ctrip, Qunar, Trip.com, and Skyscanner, and aims to provide travelers with cost-effective booking options and support [2] - Founded in 1999, Trip.com Group was listed on Nasdaq in 2003 and on HKEX in 2021, with a mission to pursue the perfect trip for a better world [2]

CDC’s rupture disc and pressure/vacuum relief valve portfolio is a leader in addressing pressure/vacuum safety and pressure management for critical applications across a broad range of attractive end marketsTransaction adds complementary portfolio of products to Baker Hughes existing valves product lineAcquisition expected to be immediately accretive to earnings and cash flow per share and IET’s segment margins HOUSTON and LONDON, June 16, 2025 (GLOBE NEWSWIRE) -- Baker Hughes (NASDAQ: BKR), an energy techn ...

Core Insights - AbbVie is experiencing stability in price action and offers attractive dividend yields, but there are underlying issues in the investment thesis beyond the aging Humira patent cliff [1] Group 1: Company Analysis - AbbVie is facing challenges related to the expiration of the Humira patent, which is a significant concern for its future revenue streams [1] - The company has a strong focus on equity valuation, market trends, and portfolio optimization to identify high-growth investment opportunities [1] Group 2: Analyst Background - The analysis is conducted by a seasoned analyst with over 20 years of experience in quantitative research, financial modeling, and risk management, emphasizing a long-term perspective on value creation [1] - The analyst has previously held a Vice President position at Barclays, leading teams in model validation and stress testing, showcasing a deep expertise in both fundamental and technical analysis [1]