Greif Q2 2022 Earnings Report
Key Takeaways
Greif reported second quarter 2022 results with net income of $125.1 million, or $2.09 per diluted Class A share. Adjusted EBITDA increased to $251.0 million, and the company completed the divestment of its equity interest in the Flexible Products & Services joint venture. The company lowered overall interest rate by over 300 basis points.
Net income decreased compared to Q2 2021, but increased excluding the impact of adjustments.
Adjusted EBITDA increased by $74.4 million compared to the prior year.
Net cash provided by operating activities decreased by $13.1 million.
Total debt decreased by $213.5 million.
Greif
Greif
Greif Revenue by Segment
Forward Guidance
Greif provided fiscal year 2022 outlook for Class A earnings per share before adjustments to be $7.45 - $7.75 and adjusted free cash flow to be $380 - $440 million.
Positive Outlook
- Class A earnings per share before adjustments: $7.45 - $7.75
- Adjusted free cash flow: $380 - $440 million