Greif Q1 2024 Earnings Report
Key Takeaways
Greif's first quarter 2024 results showed a decrease in net income and adjusted EBITDA compared to the previous year, but an increase in net income excluding certain adjustments. The company is focused on navigating a slow demand environment and making strategic improvements.
Net income decreased to $67.2 million, or $1.17 per diluted Class A share.
Adjusted EBITDA decreased by $36.5 million to $128.0 million.
Net cash provided by operating activities decreased by $28.4 million to $4.5 million.
Adjusted free cash flow decreased by $40.6 million to a use of $48.2 million.
Greif
Greif
Greif Revenue by Segment
Forward Guidance
Given the deterioration of product demand and uncertainty in the macro-economic environment, Greif is providing only a low-end guidance estimate based on current demand trends and price/cost factors in the Paper Packaging and Services business segment. The low-end guidance does not factor in any contribution from the proposed acquisition of Ipackchem.
Revenue & Expenses
Visualization of income flow from segment revenue to net income