Greif Q4 2023 Earnings Report
Key Takeaways
Greif reported fourth quarter results with net income decreasing to $67.8 million from $99.5 million in the prior year. Net sales also decreased to $1,308.4 million from $1,495.8 million. Despite these declines, the company highlighted its second-best year in history for Adjusted EBITDA and Adjusted Free Cash Flow.
Net income decreased to $67.8 million, or $1.16 per diluted Class A share, compared to $99.5 million, or $1.67 per diluted Class A share, in the fourth quarter of 2022.
Adjusted EBITDA decreased to $199.2 million from $218.7 million in the prior year.
Net sales decreased to $1,308.4 million from $1,495.8 million in the fourth quarter of 2022.
The company completed the acquisition of Reliance Products, Ltd. and signed an agreement to acquire Ipackchem Group SAS.
Greif
Greif
Greif Revenue by Segment
Forward Guidance
Greif is providing a low-end guidance estimate for fiscal year 2024, based on the continuation of demand trends reflected in the past year and current price/cost factors in Paper Packaging and Services. The low-end guidance does not factor in any contribution from the proposed acquisition of Ipackchem or other near-term M&A opportunities.
Revenue & Expenses
Visualization of income flow from segment revenue to net income