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Jan 31, 2020
Greif Q1 2020 Earnings Report
Greif's first quarter 2020 results were announced, showing increased net sales and gross profit compared to the first quarter of 2019.
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.
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.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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