Greif Q1 2021 Earnings Report
Key Takeaways
Greif's first quarter results showed a decrease in net income and adjusted EBITDA compared to the same period last year, but volumes grew across most packaging substrates, particularly in the corrugated business. The company is implementing price increases to address cost inflation in raw materials and transportation. Greif is well positioned to benefit as the world recovers from the pandemic.
Net income decreased to $23.4 million, or $0.40 per diluted Class A share.
Adjusted EBITDA decreased by $8.9 million to $138.5 million.
Net sales increased by $34.1 million to $1,146.5 million.
Total debt decreased by $268.7 million to $2,539.4 million.
Greif
Greif
Forward Guidance
The Company is utilizing quarterly outlook given the continued market unpredictability caused by the COVID-19 pandemic. Second Quarter 2021 Outlook Class A earnings per share before adjustments $0.96 - $1.06