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Greif (NYSE:GEF), Inc. (NYSE:GEF, NYSE:GEF-B), the $3.3 billion market cap industrial packaging products manufacturer, held a conference call with investors and financial analysts on Tuesday to discuss the divestiture of its subsidiaries, Greif Containerboard Solutions, LLC and Box-Board Holding Corporation. The transcript of the call was filed as an exhibit to a Form 8-K submitted to the Securities and Exchange Commission.
The company, headquartered in Delaware, Ohio, registered the transcript as Exhibit 99.1 to its current report. The filing did not include further details about the terms, timing, or counterparties involved in the divestiture.
Greif’s Class A and Class B common stock continue to be listed on the New York Stock Exchange under the symbols GEF and GEF-B, respectively.
The information is based on a press release statement included in the company’s SEC filing.
In other recent news, Packaging Corporation of America announced its acquisition of Greif Inc.’s containerboard business for $1.8 billion in cash. This deal includes two containerboard mills and eight sheet feeder and corrugated plants, which previously generated $1.2 billion in sales and $212 million in EBITDA over the past year. Packaging Corp (NYSE:PKG) expects to achieve $60 million in pre-tax synergies within two years, with the acquisition anticipated to be immediately accretive to earnings. Meanwhile, Greif Inc. reported second-quarter earnings that exceeded expectations, with an adjusted EPS of $1.22, surpassing the forecast of $1.12. Despite a slight revenue miss, Greif raised its fiscal 2025 guidance, projecting adjusted EBITDA to be at least $725 million. Truist Securities responded to Greif’s performance by raising the stock’s price target to $72 from $56, maintaining a Hold rating. The firm cited Greif’s strong execution and improved earnings as reasons for the upgrade.
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