Greif Shares Up 5% on Strong Q1 Earnings Beat and Raise
2022.06.09 00:51
Greif (GEF) Shares Up 5% on Strong Q1 Earnings Beat and Raise
By Davit Kirakosyan
Greif Inc (NYSE:GEF) shares rose more than 5% after-hours following the company’s reported Q2 results, with EPS of $2.41 coming in better than the consensus estimate of $1.71. Revenue was $1.67 billion, beating the consensus estimate of $1.51 billion.
“Our second quarter results are a testament to our team’s continued execution and customer service focus in overcoming significant ongoing headwinds related to inflation, supply chain, and the pandemic to produce another quarter of record results,” said Ole Rosgaard, President and Chief Executive Officer of Greif. “This level of execution is exemplary of the Build to Last strategy in action, and is a fitting lead-in to our upcoming Investor Day on June 23 in New York City where we will be discussing that strategy and future growth for our Company in much greater detail. We hope to see you there.”
The company expects full 2022-year EPS in the range of $7.45-$7.75, compared to the consensus estimate of $6.61.
