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Greif: Fiscal 4Q Earnings Snapshot

December 5, 2018

DELAWARE, Ohio (AP) _ Greif Inc. (GEF) on Wednesday reported fiscal fourth-quarter net income of $40.1 million, after reporting a loss in the same period a year earlier.

The Delaware, Ohio-based company said it had net income of 67 cents per share. Earnings, adjusted for non-recurring costs, came to $1.08 per share.

The results fell short of Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $1.18 per share.

The industrial packaging company posted revenue of $987.7 million in the period, which also fell short of Street forecasts. Four analysts surveyed by Zacks expected $1.02 billion.

For the year, the company reported profit of $209.4 million, or $3.55 per share. Revenue was reported as $3.87 billion.

Greif expects full-year earnings in the range of $3.55 to $3.95 per share.

Greif shares have declined 18 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $49.92, a decline of roughly 9 percent in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on GEF at https://www.zacks.com/ap/GEF

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