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Jul 31, 2021
Greif Q3 2021 Earnings Report
Greif reported record third quarter financial results driven by strong operating performance and debt reduction.
Key Takeaways
Greif reported record net sales of $1,490.8 million, a $407.8 million increase compared to the previous year. Net income increased to $113.0 million, or $1.89 per diluted Class A share, compared to $20.7 million, or $0.35 per diluted Class A share in the same quarter last year. The company also achieved record Adjusted EBITDA of $237.8 million and reduced total debt by $370.0 million.
Record net sales of $1,490.8 million, an increase of $407.8 million compared to the third quarter of 2020.
Net income of $113.0 million or $1.89 per diluted Class A share increased compared to net income of $20.7 million or $0.35 per diluted Class A share.
Record Adjusted EBITDA of $237.8 million, an increase of $78.4 million compared to Adjusted EBITDA of $159.4 million.
Total debt decreased by $370.0 million to $2,267.6 million.
Forward Guidance
Greif increased fiscal year 2021 guidance for Class A earnings per share before adjustments and Adjusted Free Cash Flow.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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