Greif Q1 2020 Earnings Report
Key Takeaways
Greif reported strong first quarter 2020 results, with net sales increasing by $215.4 million to $1,112.4 million and gross profit increasing by $49.8 million to $222.6 million. Net income increased to $32.3 million, and adjusted EBITDA rose by 39% to $147.4 million. The company's performance was driven by strength in the Rigid Industrial Packaging & Services segment and the acquired Caraustar operations.
Net sales increased by $215.4 million to $1,112.4 million.
Gross profit increased by $49.8 million to $222.6 million.
Net income of $32.3 million or $0.55 per diluted Class A share increased compared to net income of $29.7 million or $0.51 per diluted Class A share.
Adjusted EBITDA increased by $41.1 million to $147.4 million.
Greif
Greif
Greif Revenue by Segment
Forward Guidance
Greif provided fiscal year 2020 guidance, with Class A earnings per share before adjustments expected to be between $3.55 and $3.91, and adjusted free cash flow projected to be between $265 million and $305 million.