DELAWARE, Ohio, July 01, 2025 (GLOBE NEWSWIRE) -- Greif, Inc. (NYSE: GEF, GEF.B), a global leader in industrial packaging products and services, announced today it has entered into a definitive agreement to divest its Containerboard business, including its CorrChoice sheet feeder network, in an all-cash transaction for $1.8 billion to Packaging Corporation of America. The transaction is expected to close by the end of Greif's fiscal year 2025, and is subject to customary closing conditions, including regula ...

Core Viewpoint - ESCO Technologies Inc. has entered into a definitive agreement to sell VACCO Industries to RBC Bearings Incorporated for expected gross cash proceeds of $310 million, aligning with its long-term strategy to focus on high-growth end-markets [1][2][3] Group 1: Transaction Details - The transaction is subject to customary regulatory approvals and is expected to yield a sizable book gain, with net proceeds planned for debt reduction related to a previous acquisition [2] - VACCO Industries has been part of ESCO since its formation in 1990 and is recognized as a key supplier of mission-critical solutions [3] Group 2: Strategic Implications - The divestiture supports ESCO's strategy to concentrate on core high-growth markets, enhancing its portfolio focus [3] - The CEO of ESCO expressed confidence in the future of VACCO under RBC Bearings, indicating a positive outlook for the company post-transaction [3] Group 3: Company Overview - ESCO Technologies is a global provider of engineered products and solutions across diverse end-markets, including aviation, Navy, space, and industrial sectors [4] - The company specializes in manufacturing filtration and fluid control products, advanced composites, and power management solutions, and is a leader in RF test and measurement products [4]

Financial Data and Key Metrics Changes - Q1 2025 was described as a solid start to the year with reaffirmed full-year 2025 adjusted EBITDA guidance across all of IAC [6][18] - The company repurchased 4,500,000 shares and increased share repurchase authorization by 10,000,000 shares [6][12] - DDM (Dotdash Meredith) grew digital revenues by 7% in Q1 and increased EBITDA by 46%, excluding a one-time lease gain [8][10] Business Line Data and Key Metrics Changes - DDM's digital advertising revenue was up 1% in Q1, with premium demand remaining stable despite a decline in core traffic [35][40] - Licensing revenue led growth with a 30% increase, aided by the OpenAI license and strong performance at Apple News [36] - Performance marketing also showed strong growth at 11% [36] Market Data and Key Metrics Changes - The macroeconomic outlook remains uncertain, with consumer spending through DDM's performance marketing being solid despite weak consumer confidence [15][18] - Programmatic pricing has softened, running flat year over year after previously increasing [17][18] - The advertising base showed strength in pharma, tech, and beauty, offsetting weaknesses in food and beverage [17] Company Strategy and Development Direction - The company is focused on executing growth across its businesses and capital allocation, including share buybacks and M&A opportunities [11][12] - The strategy includes pursuing strategic divestitures of smaller holdings to free up capital [13] - The company aims to create equity value and reduce the discount between share price and intrinsic value [10][12] Management's Comments on Operating Environment and Future Outlook - Management is carefully monitoring the macroeconomic environment for signs of stability or weakness among consumers and brands [18] - The company is optimistic about future growth, particularly in 2026, with several key projects underway [22][26] - Management acknowledged the challenges in the advertising market but emphasized the strength of their brands and execution capabilities [40][41] Other Important Information - The company reached an agreement to settle litigation related to the match separation with minimal additional costs [10] - The appointment of Jim Lawson as President of Decipher was highlighted as a strategic move to enhance the product's market presence [48][50] Q&A Session Summary Question: Key priorities for 2026 TDM revenue growth and capital allocation - Management discussed ongoing projects like the People app and MyRecipes, emphasizing their focus on meeting younger audiences [22][24] - Capital allocation will balance between share repurchases and M&A opportunities, with a cautious optimism for new investments [27][28] Question: Q1 trends in DDM Digital revenue - Management noted that Q1 faced tough comparisons and a decline in core traffic, but licensing and performance marketing showed strong growth [34][36] Question: Impact of Google’s AI transition and programmatic softness - Management indicated that the impact of Google's AI changes is not significant yet, and programmatic pricing has stabilized after a period of growth [114][116] Question: Appointment of Jim Lawson and Decipher's strategy - The appointment was seen as a strategic advantage to enhance Decipher's market presence and execution capabilities [48][50] Question: AI opportunities across the IAC portfolio - Management highlighted ongoing AI applications in various segments, particularly in improving customer service and marketing efficiency [83][85]