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UPDATE: Greif FQ3 Net Income Down 39%

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Greif (NYSE: GEF) reported a 39% drop in its net income for the fiscal third quarter.

Greif's quarterly net income declined to $40.7 million, or $0.70 per share, versus $66.9 million, or $1.14 per share, in the year-ago period.

Its total revenue fell 2% to $1.1 billion. However, analysts were expecting net income of $0.76 per share on revenue of $1.1 billion.

Greif shares closed at $40.70 yesterday.

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