AP NEWS

Greif: Fiscal 2Q Earnings Snapshot

June 5, 2019

DELAWARE, Ohio (AP) _ Greif Inc. (GEF) on Wednesday reported fiscal second-quarter net income of $13.6 million.

The Delaware, Ohio-based company said it had net income of 23 cents per share. Earnings, adjusted for non-recurring costs, came to 81 cents per share.

The results surpassed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 79 cents per share.

The industrial packaging company posted revenue of $1.21 billion in the period, falling short of Street forecasts. Four analysts surveyed by Zacks expected $1.23 billion.

Greif expects full-year earnings in the range of $3.70 to $4 per share.

Greif shares have climbed roughly 5% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $38.86, a decline of 36% in the last 12 months.

_____

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

All contents © copyright 2019 The Associated Press.All rights reserved.