Greif(US:GEF)2022-09-01 12:42Financial Performance Highlights - Adjusted EBITDA for Q3 2022 was $251.0 million[4], compared to $237.8 million in Q3 2021[9] - Adjusted Class A EPS for Q3 2022 was $2.35 per share[4], up from $1.93 per share in Q3 2021[9] - Adjusted Free Cash Flow reached a record $175.8 million in Q3 2022[4], significantly higher than the $64.1 million in Q3 2021[9] - Net sales increased from $1,490.8 million in Q3 FY21 to $1,622.1 million in Q3 FY22[9] - The company is raising its Fiscal Year 2022 Adjusted Class A EPS guidance to a range of $7.90 - $8.10 per share[4] Segment Performance - Global Industrial Packaging (GIP) net sales were approximately $906.7 million in Q3 FY22[5], slightly down from $907.8 million in Q3 FY21[5], with Adjusted EBITDA at $117.1 million[5] compared to $146.2 million[5], and Adjusted EBITDA % decreased from 16.1% to 12.9%[5] - Paper Packaging & Services (PPS) net sales increased to $710.2 million in Q3 FY22[7], from $578.8 million in Q3 FY21[7], with Adjusted EBITDA at $131.8 million[7] compared to $89.9 million[7], and Adjusted EBITDA % increased from 15.5% to 18.6%[7] Capital Structure and Allocation - The credit agreement leverage ratio was 1.99x, within the target range of 2.0 - 2.5x[4] - The company is increasing its quarterly dividend by 8.7%[13] - A share repurchase program of $150 million is in place[15]