Greif: Fiscal 3Q Earnings Snapshot
DELAWARE, Ohio (AP) _ Greif Inc. (GEF) on Wednesday reported fiscal third-quarter net income of $67.7 million.
The Delaware, Ohio-based company said it had net income of $1.15 per share. Earnings, adjusted for restructuring costs, came to $1.20 per share.
The results topped Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $1.08 per share.
The industrial packaging company posted revenue of $1.01 billion in the period, which fell short of Street forecasts. Four analysts surveyed by Zacks expected $1.05 billion.
Greif shares have declined 8 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $55.66, a drop of nearly 2 percent in the last 12 months.