Greif Inc (GEF) Misses Q1 EPS by 19c

Greif Inc (NYSE: GEF) reported Q1 EPS of $1.06, $0.19 worse than the analyst estimate of $1.25. Revenue for the quarter came in at $1.27 billion versus the consensus estimate of $1.36 billion.

Company Outlook

Given the significant deterioration of product demand in the past two quarters and the degree of uncertainty in the forward looking macro-economic environment, we are unable to determine the trajectory of product demand for the remainder of our fiscal year. As a result, we are providing only a low-end guidance estimate that is based on the continuation of demand trends reflected in the recent two quarters and February, modified by normal lifts related to agricultural, construction, and other seasonal end markets. In addition, we have factored in the impact of potential negative price trends in our paper business that could result from extended negative demand trends. Lastly, the low-end guidance estimate does not factor in any contribution from the recently announced potential Centurion transaction or other near-term actionable opportunities in our M&A pipeline, which, if closed and depending on timing, could add an additional $20 million to $40 million of Adjusted EBITDA to fiscal 2023.

For earnings history and earnings-related data on Greif Inc (GEF) click here.

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