Greif, Inc. Updates Guide for Q2 2021 | Ohio


Delaware, Ohio, May 20, 2021 / PRNewswire / -Greif, Inc., a global leader in industrial packaging products and services. (NYSE: GEF, GEF.B) today announced that it has revised its outlook for the second quarter of 2021. Class A was diluted in the second quarter of 2021. Earnings per share before adjustment is now $ 1.11 – – $ 1.15 Per share compared to our previous guidance range $ 0.96 – – $ 1.06 Per share.1

The improvement in forecast is mainly due to higher than expected sales volumes and prices in the global industrial packaging industry, and slightly lower than expected tax rates, but overhead costs and administrative levels higher than expected, mainly due to higher incentive rates. . It is partially offset by the cost.

We will release the financial results for the second quarter of 2021 after the market closes. Wednesday June 9, 2021..The conference call will take place at Thursday, June 10, 2021 therefore 8:30 a.m. EST..You can find the details of the conference call Here..

Description of future prospects

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The words “may”, “do”, “expect”, “intention”, “estimate”, “expect”, ” to desire”. “Goal”, “project”, “believe”, “continue”, “get on the right track”, “goal” or their negative expressions, and similar expressions, among others, describe the future prospects. Identify. All forward-looking statements are based on assumptions, expectations and other information currently available to management. These forward-looking statements may affect certain risks and uncertainties that our actual results, expressed or implied, may differ materially from those anticipated, anticipated or anticipated. To receive The most significant of these risks and uncertainties are set out in Part I of our annual report on Form 10-K for the year ended October 31, 2020. We do not undertake to update or revise any forward-looking statement .

We believe that the expectations reflected in our forward-looking statements are reasonably founded, but we cannot guarantee that these expectations will prove to be correct. Forward-looking statements may differ materially from expectations, forecasts or forecasts, whether our actual results are expressed or implied in the statements. Risks and uncertainties Is affected by. These risks and uncertainties which may make a difference include, but are not limited to: (I) Historically, our business has been sensitive to changes in general economic or business conditions, and (ii) our global business is subject to Exchanges. Political risks that could negatively affect our performance, (iii) The COVID-19 epidemic could continue to affect any combination of our business, financial condition, performance and cash flow. There, (iv) global economic and financial turmoil and fluctuations and credit market fluctuations, current and future, may adversely affect our business. (V) Continuous integration of customers and suppliers can increase price pressure. (Vi) We do business in a highly competitive industry. (Vii) The company is sensitive. In response to changing industry demands and customer preferences, (viii) fluctuations and shortages in raw materials, energy and shipping prices may adversely affect our manufacturing. Ring operations and costs, (ix) frequency and volume of timber and forest sales, may affect our performance and may fail to implement business strategies, including (x) achieve growth goals. , (Xi) Debts which may encounter difficulties or result from acquisitions or sales, (xii) Caraustar Industries, Inc. The acquisition of and of its subsidiaries presents various risks and uncertainties for the Company. (Xiii) Additional restructuring costs may be incurred and due to successful cost reduction efforts, (xiv) some businesses are managed by joint ventures which we cannot operate solely for profit. (Xv) Some joint venture management contracts provide partners with put or buy options, (xvi) our ability to attract talented and talented employees, managers, executives Development and retention of executives is critical to our success. (Xvii) Our business may be adversely affected by suspension of work, etc. Labor relations issues, (xviii) may be subject to losses which may not be covered in whole or in part by insurance provisions or existing insurance coverages and general premiums and deductible increases. (Xix) Our business includes our information technology and other business systems Our facilities, systems and business functions, (xx) Information security breaches about customers, employees, suppliers or the company are our business, financial condition, results of operations and liquidity seriously affected. Flow, (xxi) US GAAP and SEC rules and regulatory changes may have a material impact on reported financial results. (Xxii) Tax rates may change. Exposure to new US or foreign tax laws or additional tax obligations, (xxiii) The full realization of our deferred tax assets is affected by several factors. (Xxiv) Debt levels can adversely affect liquidity, limit flexibility to respond to business opportunities, and increase vulnerability to adverse changes in economic and industrial conditions. (Xxv) Amount of goodwill and long-lived assets that could adversely affect our performance in the event of future impairment, (xxvi) Our retirement and post-retirement plans are underfunded and require future cash contributions and contributions future cash requirements may be higher, each of which could have a material adverse effect on our financial position and liquidity, and (xxvii) laws and regulations relating to environmental and health and safety matters. And corporate social responsibility may adversely affect our business and financial performance, (xxviii) product claims and other legal actions may adversely affect our business and financial performance. (Xxx) If an employee, agent or business partner violates or allegedly violates anti-priority, competition or other laws, fines or penalties, damage to reputation or other adverse effects may occur. There probably will be. (Xxx) The climate, changes in climate change regulations and the impact of greenhouse gases can negatively impact our business and performance. The above risks are not exhaustive and in light of these possible risks and uncertainties, as well as other possible risks and uncertainties, investors should not rely too heavily on forward-looking statements as forecasts of actual results. For more information on the most important risks and uncertainties in which actual results may differ materially from those expected, expected or expected, see Form 10-K Part I, point 1A “Risk Factors” and other submissions securities and exchange commission. All forward-looking statements made in this press release are explicitly amended in their entirety by reference to these risk factors. Except to the limited extent required by applicable law, we assume no obligation to update or revise any forward-looking statement as a result of new information, future events or other consequences.

Greif, Inc.about

Graef is a global leader in industrial packaging products and services and pursues this vision. For industrial packaging, we will be the most successful customer service company in the world. The company manufactures steel, plastic, fiber drums, intermediate bulk containers, recycled containers, flexible products, container panels, uncoated recycled cardboard, coated recycled cardboard, tubes and cores, and a variety of specialty product combinations. I am. We also manufacture packaging accessories and provide filling, wrapping and other services to a wide range of industries. In addition, Greif manages timber assets in the South East. America.. We are strategically located in over 40 countries and serve our global and regional customers. Additional information can be found on our website. www.greif.com..

Contact information:

Matt Eichmann

Office: 740–549–6067

E-mail: [email protected]

1Diluted earnings per share for the second quarter of 2021 before adjustment, which is a non-GAAP financial indicator, adjusts for restructuring costs, acquisition and consolidation costs, non-cash asset impairment costs and costs of settlement of non-cash annuities (income). Exclude. , Additional cost of COVID-19, net loss (profit), net worth from disposal of assets, factories, equipment and businesses. The most directly comparable GAAP financial measure, diluted GAAP earnings per share for the second quarter of 2021, is not provided here because it may be one or more of the following: At this point, the company cannot reliably forecast on an individual basis with the following probabilities: Profit or loss of business, forests or assets, factories and equipment, net disposal. Depreciation costs of non-monetary assets. Restructuring costs; additional non-cash costs of COVID-19, net. Non-cash annuity settlement fee (income); or costs associated with acquisitions and consolidations. Tax implications of these and other income tax related events. As a result, expected Class A earnings per adjustment per share for the second quarter of 2021 before adjustment to the most directly comparable GAAP financial measures is not included in this release.

To download multimedia, view the original content.http://www.prnewswire.com/news-releases/greif-inc-updates-fiscal-second-quarter-2021-guidance-301296508.html

Source Greif, Inc.


About Andrew Estofan

Check Also

LEGAL ACTIONS AGAINST ASTR, TASK and ABBV – Jakubowitz Law pursues shareholder claims

TO SEE OUR COMPLAINT, CLICK HERE TO SEE OUR VIDEO, CLICK HERE CLICK HERE TO …