Greif, Inc. Raised Guidance for Fiscal Year 2025
The company reported continued progress in sale of its timberland business during the quarter.
SEATTLE (Scrap Monster): Greif, Inc., a leading manufacturer and supplier of industrial packaging products, released its fiscal second quarter 2025 results. Motivated by its robust growth strategy, the company raised its FY 2025 guidance.
Greif Inc.'s net income increased 6.5% to $47.3 million, or $0.82 per diluted share, in the second quarter of the fiscal year, compared to $44.4 million, or $0.77 per diluted share, in the same quarter last year, according to a company news release. In the second quarter of 2024, adjusted EBITDA climbed 26.0% to $213.9 million from $169.7 million. There was a $50.6 million rise in adjusted free cash flow. Additionally, net debt decreased by $197.6 million to $2,522.5 million.
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Throughout the quarter, the company claimed further progress in selling its forestry business. With faster progress, the ongoing cost optimization initiative achieved run-rate savings of $10.0 million. The business has received the Gallup Exceptional Workplace Award for the second consecutive year.
Regarding its prospects for the future, the business stated that it is in a strong position to benefit from an eventual industrial economy revival. As a result, the business increased its low-end projection for the fiscal year, citing strong Q2 performance and an improved price/cost outlook as the primary drivers.