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Apr 30, 2023
Greif Q2 2023 Earnings Report
Greif's Q2 2023 performance reflected resilience amidst demand uncertainties, driven by strategic cost rationalization and successful cash flow management.
Key Takeaways
Greif reported a decrease in net income and adjusted EBITDA compared to the prior year, but achieved record second-quarter free cash flow. The company completed strategic acquisitions and maintained a strong customer satisfaction index.
Net income decreased to $111.2 million, or $1.90 per diluted Class A share.
Adjusted EBITDA decreased to $228.6 million.
Net cash provided by operating activities increased to $210.8 million.
Completed the acquisition of a majority stake in Centurion Container LLC.
Greif
Greif
Forward Guidance
Greif anticipates adjusted EBITDA between $780 million and $830 million, and adjusted free cash flow between $390 million and $440 million for fiscal year 2023.