Buscar
Filtros genéricos
Coincidencias exactas únicamente
Buscar en el título
Buscar en el contenido
Buscar en el extracto

Noticias

Greif Reports First Quarter 2022 Results

DELAWARE, Ohio (March 2, 2022) – Greif, Inc. (NYSE: GEF, GEF.B), a global leader in industrial packaging products and services, today announced first quarter 2022 results.

First Quarter Financial Highlights include (all results compared to the first quarter of 2021 unless otherwise noted):

  • Net income of $10.3 million or $0.18 per diluted Class A share decreased compared to net income of $23.4 million or $0.40 per diluted Class A share. Net income, excluding the impact of adjustments(1), of $75.6 million or $1.28 per diluted Class A share increased compared to net income, excluding the impact of adjustments, of $35.9 million or $0.61 per diluted Class A share.
  • Adjusted EBITDA(2) of $196.8 million, an increase of $58.3 million compared to Adjusted EBITDA of $138.5 million.
  • Net cash provided by operating activities increased by $10.9 million to $22.4 million. Adjusted free cash flow(3) decreased by $7.3 million to a use of $18.8 million.
  • Total debt decreased by $242.6 million to $2,296.8 million. Net debt(4) decreased by $260.9 million to $2,177.1 million. The Company’s leverage ratio(5) decreased to 2.39x from 3.79x and from 2.49x at year-end.


Acciones y anuncios estratégicos

  • Completed our planned Chief Executive Officer transition and announced new executive leadership team
  • Announced a definitive agreement to divest our 50% equity interest in the Flexible Products & Services joint venture to Gulf Refined Packaging (“the FPS Divestiture”) for $123 million, subject to post-closing adjustments.  The transaction is expected to close by March 31, 2022
  • Redeemed our $500 million 6.5% 2027 senior notes on March 1 with proceeds from our refinanced credit facilities, which were expanded and extended for an additional 5 years and include an ESG-linked feature that ties our borrowing cost to Greif’s EcoVadis rating. The net result is a reduction in Greif’s anticipated annual interest expense of approximately $15 million
  • Received a gold medal rating for Corporate Social Responsibility (CSR) performance from EcoVadis, a multinational CSR ratings agency, for the fourth year in a row
  • Announced that Investor Day 2022 will be held on June 23, 2022 in New York City


Comentario del director ejecutivo

“Our team delivered an outstanding first quarter,” said Ole Rosgaard, Greif’s President and Chief Executive Officer. “Through disciplined operational execution and a sharp focus on the areas within our control, we generated record financial results while navigating the still challenging and volatile operating environment. In addition, we solidified our leverage position and announced the agreement to sell our 50% ownership stake in Flexible Products and Services business for outstanding value. Looking ahead, we are increasing our Fiscal 2022 guidance based on our strong start and positive outlook for the remainder of the year.”

  1. Adjustments that are excluded from net income before adjustments and from earnings per diluted Class A share before adjustments are restructuring charges, integration related costs, non-cash asset impairment charges, non-cash pension settlement charges, incremental COVID-19 costs, net, (gain) loss on disposal of properties, plants, equipment and businesses, net.
  2. Adjusted EBITDA is defined as net income, plus interest expense, net, plus income tax expense, plus depreciation, depletion and amortization expense, plus restructuring charges, plus integration related costs, plus non-cash asset impairment charges, plus non-cash pension settlement charges, plus incremental COVID-19 costs, net, plus (gain) loss on disposal of properties, plants, equipment and businesses, net.
  3. Adjusted free cash flow is defined as net cash provided by operating activities, less cash paid for purchases of properties, plants and equipment, plus cash paid for integration related costs, plus cash paid for incremental COVID-19 costs, net, plus cash paid for integration related Enterprise Resource Planning (ERP) systems.
  4. La deuda neta se define como la deuda total menos el efectivo y los equivalentes de efectivo.
  5. El índice de apalancamiento se define como el EBITDA de los últimos doce meses dividido por la deuda neta, cada uno calculado según los términos del Acuerdo de Crédito Enmendado y Reformulado de la Compañía con fecha del 11 de febrero de 2019, presentado como Anexo 10.1 en el Formulario 8-K/A el 26 de marzo de 2020 (el “Acuerdo de Crédito de 2019”).


Nota: En los cuadros financieros que forman parte de este comunicado se incluye una conciliación de las diferencias entre todas las medidas financieras no GAAP utilizadas en este comunicado con las medidas financieras GAAP más directamente comparables. Estas medidas financieras no GAAP tienen como objetivo complementar nuestros resultados financieros y deben leerse junto con ellos. No deben considerarse una alternativa o un sustituto de nuestros resultados financieros informados, ni deben considerarse superiores a ellos. En consecuencia, los usuarios de esta información financiera no deben confiar indebidamente en estas medidas financieras no GAAP.

Comparte esto:

¿NO VES TU IDIOMA?

Utilice Google Translate para elegir su idioma de la lista utilizando la barra de herramientas en la parte superior de la página.