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Jan 31, 2022
Greif Q1 2022 Earnings Report
Greif's Q1 2022 results were announced, showcasing increased net sales and adjusted EBITDA compared to the previous year, driven by disciplined operational execution.
Key Takeaways
Greif reported a strong first quarter in 2022, with net sales increasing to $1,564.3 million and adjusted EBITDA rising to $196.8 million. The company completed its CEO transition, announced the divestiture of its equity interest in the Flexible Products & Services joint venture, and increased its Fiscal Year 2022 guidance.
Net sales increased by $417.8 million to $1,564.3 million.
Adjusted EBITDA increased by $58.3 million to $196.8 million.
Net income was $10.3 million, or $0.18 per diluted Class A share.
The company announced a definitive agreement to divest its 50% equity interest in the Flexible Products & Services joint venture for $123 million.
Forward Guidance
Greif provided fiscal year 2022 outlook, excluding the contribution from the Flexible Products & Services joint venture after the expected divestiture on March 31, 2022.
Positive Outlook
- Class A earnings per share before adjustments are projected to be between $6.30 and $6.90.
- Adjusted free cash flow is expected to be between $380 million and $440 million.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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