GEF - Greif posts easy earnings topper full-year guidance routs estimates

Greif (NYSE:GEF) +6.7% post-market on Wednesday after reporting better than forecast Q2 adjusted earnings and a 24% Y/Y rise in revenues to $1.67B, and issuing full-year guidance that easily beat expectations. Q2 net income fell to $125.1M, or $2.09/share , from net income of $149.8M, or $2.51/share, in the year-earlier quarter, which included a one-time $95.7M gain from sale of 69K acres of timberlands; Q2 adjusted EBITDA rose to $251M from $176.6M a year ago. Q2 net sales by segment: Global industrial Packaging jumped 22% Y/Y to $971.7M as higher average selling prices and product mix offset 1.9% lower volumes, Paper Packaging and Services rose 28% to $689.3M due to higher volumes and higher published containerboard and boxboard prices. For FY 2022, Greif (GEF) guided for adjusted EPS of $7.45-$7.75, well above $6.61 analyst consensus estimate, while forecasting adjusted free cash flow of $380M-$440M. Greif's (GEF) price return shows gains of

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Greif posts easy earnings topper, full-year guidance routs estimates