Greif Stock (NYSE:GEF), Trade Ideas

Greif

Greif Inc is a producer of industrial packaging products and services with manufacturing facilities located in many countries. It offers a comprehensive line of rigid industrial packaging products, such as steel, fiber, and plastic drums, rigid intermediate bulk containers, closure systems for industrial packaging products, transit protection products, water bottles and remanufactured and reconditioned industrial containers, and services, such as container life cycle management, blending, filling, logistics, warehousing, and other packaging services. The company operates in three reportable business segments including Global Industrial Packaging, Paper Packaging and Services, and Land Management. It operates in North and Latin America, Europe, Middle East, Africa and Asia Pacific regions.

Long Ideas

News

Insider Trades

Pre-Market Outlook

Markets

Trading Ideas

ANGO

SMTC

ZUMZ

Although U.S. stocks closed little changed on Monday, there were a few notable insider trades.

Insiders Buying Zumiez And 3 Other Stocks

Small Cap

MSEX

SATS

Although U.S. stocks closed lower on Friday, there were a few notable insider trades.

Over $1M Bet On EchoStar? Check Out These 3 Stocks Insiders Are Buying

SNCR

Although U.S. stocks closed mostly higher on Thursday, there were a few notable insider trades.

Insiders Buying FedEx And 3 Other Stocks

Greif Inc

Greif, Inc. Corporation Class B Common Stock

GEO FINANCE CORP by Geo Finance Corp.

Gefen Landa Acquisition Corp

Truist Securities analyst Michael Roxland initiates coverage on Greif (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GEF#NYSE">GEF</a>) with a Hold rating and announces Price Target of $71.

Price Target

Initiation

Analyst Ratings

Truist Securities Initiates Coverage On Greif with Hold Rating, Announces Price Target of $71

Although U.S. stocks closed little changed on Monday, there were a few notable insider trades.
When insiders purchase shares, it indicates their confidence in the company&#39;s prospects or that they view the stock as a bargain. Either way, this signals an opportunity to go long on the stock. Insider purchases should not be taken as the only indicator for making an investment or trading decision. At best, it can lend conviction to a buying decision.
Below is a look at a few recent notable insider purchases. For more, check out <a href="https://www.benzinga.com/sec/insider-trades/"> Benzinga&#39;s insider transactions </a> platform.
<h3>Semtech </h3>
<ul>
<li>The Trade: Semtech Corporation (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/smtc#NASDAQ">SMTC</a>) EVP and CFO Mark Lin <a href="https://www.benzinga.com/quote/SMTC/analyst-ratings"> acquired a total of 1,000 shares </a> an average price of $33.23. To acquire these shares, it cost around $33,232.</li>
<li>What&rsquo;s Happening: On March 28, Semtech posted a loss for the fourth quarter.</li>
<li>What Semtech Does: Semtech Corp is engaged in designing, developing, manufacturing and marketing analog and mixed-signal semiconductors, algorithms and wireless semiconductors, connectivity modules, gateways, routers and connected services for IoT.</li>
</ul>
<h3>Greif </h3>
<ul>
<li>The Trade: Greif, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/gef#NYSE">GEF</a>) Executive VP &amp; General Counsel Gary R Martz acquired a total of 10,082 shares at an average price of $68.23. To acquire these shares, it cost around $687,932.</li>
<li>What&rsquo;s Happening: On Feb. 28, Greif posted upbeat quarterly earnings.</li>
<li>What Greif Does: Greif Inc is a producer of industrial packaging products and services with manufacturing facilities located in many countries.</li>
</ul>
Don&rsquo;t forget to check out our <a href="https://www.benzinga.com/premarket/"> premarket coverage here </a> 
<h3>Zumiez </h3>
<ul>
<li>The Trade: Zumiez Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/zumz#NASDAQ">ZUMZ</a>) President International Adam Christopher Ellis <a href="https://www.benzinga.com/sec/insider-trades/"> bought a total of 10,000 shares </a> at an average price of $14.31. To acquire these shares, it cost around $143,100.</li>
<li>What&rsquo;s Happening: On March 20, B. Riley Securities analyst Jeff Van Sinderen maintained Zumiez with a Neutral and lowered the price target from $19 to $16.</li>
<li>What Zumiez Does: Zumiez Inc is a United-States-based specialty retailer engaged in the sale of apparel, footwear, accessories, and hard goods.</li>
</ul>
<h3>AngioDynamics </h3>
<ul>
<li>The Trade: AngioDynamics, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ango#NASDAQ">ANGO</a>) President and CEO James C Clemmer <a href="https://www.benzinga.com/sec/insider-trades/"> bought a total of 10,000 shares </a> at an average price of $6.70. The insider spent around $67,000 to buy those shares.</li>
<li>What&rsquo;s Happening: On April 4, AngioDynamics received FDA 510(k) clearance For AlphaVac F1885 System For Pulmonary Embolism.</li>
<li>What AngioDynamics Does: AngioDynamics Inc designs manufactures, and sells medical, surgical, and diagnostic devices used by professional healthcare providers for the treatment of peripheral vascular disease and for use in oncology and surgical settings.</li>
</ul>
&nbsp;
Check This Out: <a href="https://www.benzinga.com/news/earnings/24/04/38154721/investor-optimism-improves-fear-greed-index-remains-in-greed-zone"> Investor Optimism Improves; Fear &amp; Greed Index Remains In &#39;Greed&#39; Zone </a>
&nbsp;

Friday marks the last chance for investors to receive the next dividend payout from Greif, Inc. Corporation Class B Common Stock (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GEF#NYSE">GEF</a>). 
<h3>What's Happening</h3>
The company announced on Monday that it would pay shareholders a quarterly dividend of 78 cents per share. On Monday, Greif, Inc. Corporation Class B Common Stock will go ex-dividend, meaning the stock will trade lower to reflect that payout. In other words, the stock will likely open 78 cents lower than it would have opened on any other day.
In order to be eligible to receive a company's dividend, shareholders must own the stock prior to the ex-dividend date—in this case, Monday. Shareholders who own GEF/B as of the end of Friday's session are eligible to receive the 78 cents dividend payout for every share that they own. 
According to the company, this dividend will be paid out to shareholders on April 01, 2024. Investors will then be able to either reinvest those dividends back into the stock or use the payment in some other way. 
<a href="https://www.benzinga.com/quote/GEF/B">Monitor live stock price updates for Greif, Inc. Corporation Class B Common Stock on Benzinga.</a>

Dividends

Friday Is Your Last Chance To Buy Greif, Inc. Corporation Class B Common Stock Before The Dividend Payout

Although U.S. stocks closed lower on Friday, there were a few notable insider trades.
When insiders purchase shares, it indicates their confidence in the company&#39;s prospects or that they view the stock as a bargain. Either way, this signals an opportunity to go long on the stock. Insider purchases should not be taken as the only indicator for making an investment or trading decision. At best, it can lend conviction to a buying decision.
Below is a look at a few recent notable insider purchases. For more, check out <a href="https://www.benzinga.com/sec/insider-trades/"> Benzinga&#39;s insider transactions </a> platform.
<h3>Greif </h3>
<ul>
<li>The Trade: Greif, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/gef#NYSE">GEF</a>) EVP and CFO Lawrence A. Hilsheimer <a href="https://www.benzinga.com/quote/SNOW/analyst-ratings"> acquired a total of 7,363 shares </a> an average price of $65.06. To acquire these shares, it cost around $479,067.</li>
<li>What&rsquo;s Happening: On Feb. 28, Greif posted upbeat quarterly earnings.</li>
<li>What Greif Does: Greif Inc is a producer of industrial packaging products and services with manufacturing facilities located in many countries.</li>
</ul>
<h3>EchoStar </h3>
<ul>
<li>The Trade: EchoStar Corporation (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/sats#NASDAQ">SATS</a>) Director James Defranco acquired a total of 90,000 shares at an average price of $13.21. To acquire these shares, it cost around $1.19 million.</li>
<li>What&rsquo;s Happening: On Feb. 29, EchoStar reported a year-over-year decrease in fourth-quarter EPS results.</li>
<li>What EchoStar Does: Following the Dish Network merger, satellite television provides the bulk of EchoStar&#39;s revenue. The firm serves about 7 million U.S. customers, about 10% of the traditional television market.</li>
</ul>
Don&rsquo;t forget to check out our <a href="https://www.benzinga.com/premarket/"> premarket coverage here </a> 
<h3>Middlesex Water </h3>
<ul>
<li>The Trade: Middlesex Water Company (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/msex#NASDAQ">MSEX</a>) Director James F.. Cosgrove Jr <a href="https://www.benzinga.com/sec/insider-trades/"> bought a total of 1,600 shares </a> at an average price of $51.70. To acquire these shares, it cost around $82,720.</li>
<li>What&rsquo;s Happening: On Feb. 29, Middlesex Water posted downbeat quarterly results.</li>
<li>What Middlesex Water Does: Middlesex Water Co owns and operates regulated water utility and wastewater systems in the U.S. The firm primarily operates in the eastern states of New Jersey, Delaware, and Pennsylvania.</li>
</ul>
&nbsp;
Check This Out: <a href="https://www.benzinga.com/trading-ideas/long-ideas/24/03/37553898/cramer-says-sprout-social-is-in-a-hot-spot-but-this-energy-stock-is-too-down-and-out"> Cramer Says Sprout Social Is In A &#39;Hot Spot,&#39; But This Energy Stock Is &#39;Too Down And Out&#39; </a>

Greif (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GEF#NYSE">GEF</a>) reported quarterly earnings of $1.27 per share which beat the analyst consensus estimate of $0.47 by 170.21 percent. The company reported quarterly sales of $1.21 billion which missed the analyst consensus estimate of $1.28 billion by 5.52 percent. This is a 5.11 percent decrease over sales of $1.27 billion the same period last year.

Earnings

Earnings Beats

Earnings Misses

Greif Q1 2024 Adj EPS $1.27 Beats $0.47 Estimate, Sales $1.21B Miss $1.28B Estimate

Greif (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GEF#NYSE">GEF</a>) is set to give its latest quarterly earnings report on Wednesday, 2024-02-28. Here's what investors need to know before the announcement.
Analysts estimate that Greif will report an earnings per share (EPS) of $0.47. 
Greif bulls will hope to hear the company announce they've not only beaten that estimate, but also to provide positive guidance, or forecasted growth, for the next quarter.
New investors should note that it is sometimes not an earnings beat or miss that most affects the price of a stock, but the guidance (or forecast).
<h3>Past Earnings Performance</h3>
Last quarter the company beat EPS by $0.27, which was followed by a 3.34% drop in the share price the next day.
Here's a look at Greif's past performance and the resulting price change:

<table>
<thead>
<tr>
<th>Quarter</th>
<th>Q4 2023</th>
<th>Q3 2023</th>
<th>Q2 2023</th>
<th>Q1 2023</th>
</tr>
</thead>
<tbody>
<tr>
<td>EPS Estimate</td>
<td>1.29</td>
<td>1.54</td>
<td>1.32</td>
<td>1.21</td>
</tr>
<tr>
<td>EPS Actual</td>
<td>1.56</td>
<td>1.75</td>
<td>1.77</td>
<td>1.06</td>
</tr>
<tr>
<td>Price Change %</td>
<td>-3.0%</td>
<td>-2.0%</td>
<td>9.0%</td>
<td>-10.0%</td>
</tr>
</tbody>
</table>

<img src="https://www.benzinga.com/files/images/story/2024/1709053261_0.png" alt="eps graph" />
<h3>Stock Performance</h3>
Shares of Greif were trading at $62.35 as of February 26. Over the last 52-week period, shares are down 15.71%. Given that these returns are generally negative, long-term shareholders are likely bearish going into this earnings release. 
<a href="https://www.benzinga.com/quote/GEF/earnings">To track all earnings releases for Greif visit their earnings calendar on our site.</a>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Earnings Preview: Greif

Greif Partners With Columbus Blue Jackets NHL Franchise

The collaboration aims to revolutionize the challenges of recyclability and sustainability in plastic jerrycan packaging that requires an additional barrier solution.&nbsp; &nbsp;

Greif Announces Pilot-Project Partnership With IonKraft

Wells Fargo analyst Gabe Hajde upgrades Greif (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GEF#NYSE">GEF</a>) from Equal-Weight to Overweight and raises the price target from $64 to $75.

Upgrades

Wells Fargo Upgrades Greif to Overweight, Raises Price Target to $75

By the close of today, January 01, 2024, Greif (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GEF#NYSE">GEF</a>) will issue a dividend payout of $0.52 per share, resulting in an annualized dividend yield of 2.96%. Only those investors who owned the stock prior to the ex-dividend date on December 15, 2023 will receive this payout.
<h3>Greif Recent Dividend Payouts</h3>
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<thead>
<tr>
<th>Ex-Date</th>
<th style="text-align: right;">Payments per year</th>
<th>Dividend</th>
<th>Yield</th>
<th>Announced</th>
<th>Record</th>
<th>Payable</th>
</tr>
</thead>
<tbody>
<tr>
<td>2023-12-15</td>
<td style="text-align: right;">4</td>
<td>$0.52</td>
<td>2.96%</td>
<td>2023-12-05</td>
<td>2023-12-18</td>
<td>2024-01-01</td>
</tr>
<tr>
<td>2023-09-14</td>
<td style="text-align: right;">4</td>
<td>$0.52</td>
<td>2.87%</td>
<td>2023-08-29</td>
<td>2023-09-15</td>
<td>2023-10-02</td>
</tr>
<tr>
<td>2023-06-15</td>
<td style="text-align: right;">4</td>
<td>$0.5</td>
<td>3.23%</td>
<td>2023-06-05</td>
<td>2023-06-19</td>
<td>2023-07-01</td>
</tr>
<tr>
<td>2023-03-16</td>
<td style="text-align: right;">4</td>
<td>$0.5</td>
<td>2.84%</td>
<td>2023-02-28</td>
<td>2023-03-17</td>
<td>2023-04-01</td>
</tr>
<tr>
<td>2022-12-15</td>
<td style="text-align: right;">4</td>
<td>$0.5</td>
<td>2.88%</td>
<td>2022-12-06</td>
<td>2022-12-16</td>
<td>2023-01-01</td>
</tr>
<tr>
<td>2022-09-15</td>
<td style="text-align: right;">4</td>
<td>$0.5</td>
<td>2.92%</td>
<td>2022-08-30</td>
<td>2022-09-16</td>
<td>2022-10-01</td>
</tr>
<tr>
<td>2022-06-16</td>
<td style="text-align: right;">4</td>
<td>$0.46</td>
<td>2.99%</td>
<td>2022-06-07</td>
<td>2022-06-17</td>
<td>2022-07-01</td>
</tr>
<tr>
<td>2022-03-16</td>
<td style="text-align: right;">4</td>
<td>$0.46</td>
<td>3.2%</td>
<td>2022-03-01</td>
<td>2022-03-17</td>
<td>2022-04-01</td>
</tr>
<tr>
<td>2021-12-16</td>
<td style="text-align: right;">4</td>
<td>$0.46</td>
<td>2.9%</td>
<td>2021-12-07</td>
<td>2021-12-17</td>
<td>2022-01-01</td>
</tr>
<tr>
<td>2021-09-16</td>
<td style="text-align: right;">4</td>
<td>$0.46</td>
<td>2.94%</td>
<td>2021-08-31</td>
<td>2021-09-17</td>
<td>2021-10-01</td>
</tr>
<tr>
<td>2021-06-18</td>
<td style="text-align: right;">4</td>
<td>$0.44</td>
<td>2.96%</td>
<td>2021-06-08</td>
<td>2021-06-21</td>
<td>2021-07-01</td>
</tr>
<tr>
<td>2021-03-18</td>
<td style="text-align: right;">4</td>
<td>$0.44</td>
<td>3.72%</td>
<td>2021-02-23</td>
<td>2021-03-19</td>
<td>2021-04-01</td>
</tr>
</tbody>
</table>
In terms of dividend yield, Greif finds itself in the middle ground among its industry peers, while Greif (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GEF#NYSE">GEF</a>) takes the lead with the highest annualized dividend yield at 4.59%.
<h3>Analyzing Greif Financial Health</h3>
Companies that pay out steady cash dividends are attractive to income-seeking investors, and companies that are financially healthy tend to maintain their dividend payout schedule. For this reason, investors can find it insightful to see if a company has been increasing or decreasing their dividend payout schedule and if their earnings are growing. 
<h3>YoY Growth in Dividend Per Share</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1704121503_0.png" alt="dividend chart graph" />
During the period of 2020 to 2023, the company experienced a notable growth in its dividend per share. The dividend per share increased from $1.76 to $2.04, reflecting the company's focus on providing greater returns to its shareholders.
<h3>YoY Earnings Growth For Greif</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1704121503_1.png" alt="earning chart graph" />
The earnings chart above shows that from 2020 to 2023, Greif has experienced an increase in their earnings from $3.22 per share to $6.14 per share. This positive earnings trend is promising for income-seeking investors as it suggests that the company has more potential to increase its cash dividend payout if the trend continues.
<h3>Recap</h3>
This article delves into the recent dividend payout of Greif and its implications for shareholders. Presently, the company is distributing a dividend of $0.52 per share, leading to an annualized dividend yield of 2.96%.
In terms of dividend yield, Greif finds itself in the middle ground among its industry peers, while Greif takes the lead with the highest annualized dividend yield at 4.59%.
Considering the increase in dividend per share from 2020 to 2023 along with an increase in earnings per share, Greif appears to be in a strong financial position, indicating their ability to sustain dividend distributions to investors.
It is advisable for investors to monitor the company's performance in the coming quarters to stay in the loop about any adjustments in financials or dividend disbursements.
[Click here](<a href="https://www.benzinga.com/stock//dividends" title="https://www.benzinga.com/stock//dividends">https://www.benzinga.com/stock//dividends</a>) to find details on Greif's previous dividends.
To keep track of which companies are distributing dividends, <a href="https://www.benzinga.com/calendars/dividends">click here</a> to visit our Dividends Calendar. 
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Exceeding Expectations: Greif Achieves Strong Performance and Rewards Investors

Although U.S. stocks closed mostly higher on Thursday, there were a few notable insider trades.
When insiders purchase shares, it indicates their confidence in the company&#39;s prospects or that they view the stock as a bargain. Either way, this signals an opportunity to go long on the stock. Insider purchases should not be taken as the only indicator for making an investment or trading decision. At best, it can lend conviction to a buying decision.
Below is a look at a few recent notable insider purchases. For more, check out <a href="https://www.benzinga.com/sec/insider-trades/"> Benzinga&#39;s insider transactions </a> platform.
<h3>AMREP </h3>
<ul>
<li>The Trade: AMREP Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/axr#NYSE">AXR</a>) 10% owner Rainey Lancaster <a href="https://www.benzinga.com/quote/AXR/analyst-ratings"> acquired a total of 3,704 shares </a> an average price of $21.98. To acquire these shares, it cost around $81,406.</li>
<li>What&rsquo;s Happening: Amrep recently reported a decline in quarterly sales.</li>
<li>What AMREP Does: Amrep Corp through its subsidiaries is engaged in the Real estate business.</li>
</ul>
<h3>FedEx </h3>
<ul>
<li>The Trade: FedEx Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/fdx#NYSE">FDX</a>) EVP, Chief Financial Officer John W Dietrich acquired a total of 1,000 shares at an average price of $252.02. To acquire these shares, it cost around $252,020.</li>
<li>What&rsquo;s Happening: FedEx entered into an accelerated share repurchase (ASR) agreement with Mizuho Markets Americas LLC (Mizuho) to repurchase $1.0 billion of its shares.</li>
<li>What FedEx Does: FedEx pioneered overnight delivery in 1973 and remains the world&#39;s largest express package provider.</li>
</ul>
Don&rsquo;t forget to check out our <a href="https://www.benzinga.com/premarket/"> premarket coverage here </a> 
<h3>Synchronoss Technologies </h3>
<ul>
<li>The Trade: Synchronoss Technologies, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/sncr#NASDAQ">SNCR</a>) Director Kevin Rendino <a href="https://www.benzinga.com/sec/insider-trades/"> bought a total of 6,730 shares </a> at an average price of $5.70. To acquire these shares, it cost around $38,394.</li>
<li>What&rsquo;s Happening: Synchronoss regained compliance with Nasdaq minimum bid price requirement.</li>
<li>What Synchronoss Technologies Does: Synchronoss Technologies Inc is a provider of cloud- and software-based activation solutions for mobile carriers, enterprises, retailers, and original equipment manufacturers.</li>
</ul>
<h3>Greif </h3>
<ul>
<li>The Trade: Greif, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/gef#NYSE">GEF</a>) EVP and CFO Lawrence A Hilsheimer <a href="https://www.benzinga.com/sec/insider-trades/"> bought a total of 1,510 shares </a> at an average price of $67.65. The insider spent around $102,149 to buy those shares.</li>
<li>What&rsquo;s Happening: Grief recently posted upbeat earnings for the fourth quarter.</li>
<li>What Greif Does: Greif Inc is a producer of industrial packaging products and services with manufacturing facilities located in many countries.</li>
</ul>
Check This Out: <a href="https://www.benzinga.com/trading-ideas/long-ideas/23/12/36393434/how-to-earn-500-a-month-from-apple-stock"> How To Earn $500 A Month From Apple Stock </a>

Wells Fargo analyst Gabe Hajde maintains Greif (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GEF#NYSE">GEF</a>) with a Equal-Weight and lowers the price target from $67 to $64.

Wells Fargo Maintains Equal-Weight on Greif, Lowers Price Target to $64

Shares of Methode Electronics, Inc (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/mei#NYSE">MEI</a>) fell sharply during Thursday&rsquo;s session following <a href="https://www.benzinga.com/quote/MEI/earnings">weak quarterly earnings</a>.
Methode Electronics posted adjusted earnings of 6 cents per share, missing market estimates of 12 cents per share. The company&rsquo;s quarterly sales came in at $288.00 million versus expectations of $292.82 million, according to <a href="https://pro.benzinga.com/">Benzinga Pro.</a>
Methode Electronics shares fell 14.2% to $20.92 on Thursday.
Here are some other stocks moving in today&#39;s mid-day session.
<h3>Gainers</h3>
<ul>
<li>Save Foods, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/svfd#NASDAQ">SVFD</a>) shares climbed 186.7% to $6.16 after the company highlighted targeting of US carbon credit market following acquisition of majority ownership in newly- formed Nitrousink Ltd.</li>
<li>Cyngn Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/cyn#NASDAQ">CYN</a>) gained 90.4% to $0.4643 after the company announced the issuance of a new patent, US-11,837,089-B2, for the autonomous vehicle (AV) and driving solutions.</li>
<li>Barnes &amp; Noble Education, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/bned#NYSE">BNED</a>) shares climbed 31.9% to $1.3850 following upbeat quarterly earnings.</li>
<li>Hempacco Co., Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/hpco#NASDAQ">HPCO</a>) shares climbed 28.8% to $0.4331 after the company announced it entered into an exclusive Master Distribution Agreement with CBDAY Global. Under the agreement, CBDAY will exclusively sell Hempacco&#39;s line of hemp and CBD products in India and Thailand.</li>
<li>MicroAlgo Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/mlgo#NASDAQ">MLGO</a>) shares gained 26% to $12.07. MicroAlgo shares jumped over 295% on Wednesday after the company announced it plans to establish a postgraduate training practice base.</li>
<li>Kewaunee Scientific Corporation (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/kequ#NASDAQ">KEQU</a>) climbed 25.5% to $22.53 following second-quarter earnings.</li>
<li>Inogen, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ingn#NASDAQ">INGN</a>) climbed 23.3% to $6.15.</li>
<li>Satellogic Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/satl#NASDAQ">SATL</a>) rose 22% to $1.9584. Uzma and Satellogic signed a multi-million dollar +3-year agreement to advance geospatial capabilities in Southeast Asia.</li>
<li>Fitell Corporation (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ftel#NASDAQ">FTEL</a>) gained 19.7% to $1.70.</li>
<li>Altisource Asset Management Corporation(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/aamc#NYSE">AAMC</a>) gained 19.3% to $4.0213. Altisource Asset Management reported key ruling in Blackrock and PIMCO litigation.</li>
<li>Semtech Corporation (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/smtc#NASDAQ">SMTC</a>) climbed 18.5% to $19.80 after the company reported third-quarter financial results and issued guidance.</li>
<li>Altimmune, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/alt#NASDAQ">ALT</a>) gained 18.3% to $8.14.</li>
<li>Solid Biosciences Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/sldb#NASDAQ">SLDB</a>) gained 17.6% to $4.0250. Solid Biosciences received FDA fast track designation for its SGT-003 duchenne muscular dystrophy gene therapy candidate.</li>
<li>JetBlue Airways Corporation (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/jblu#NASDAQ">JBLU</a>) climbed 15.8% to $5.48 after the company said that demand for travel remains healthy, with close-in bookings outperforming expectations for both holiday peak and non-holiday travel periods since late October.</li>
<li>Siyata Mobile Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/syta#NASDAQ">SYTA</a>) rose 15.2% to $3.8001 after announcing $900,000 follow-on orders.</li>
<li>Verint Systems Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/vrnt#NASDAQ">VRNT</a>) gained 14% to $27.40 after the company reported better-than-expected third-quarter financial results and issued guidance.</li>
<li>Lilium N.V. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/lilm#NASDAQ">LILM</a>) gained 14% to $1.2650 after the company announced it signed a Memorandum of Understanding with Lufthansa Group for a strategic partnership.</li>
<li>AerSale Corporation (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/asle#NASDAQ">ASLE</a>) shares surged 13.4% to $16.16 after the company announced the FAA has issued the company a Supplemental Type Certificate for AerAware, its Enhanced Flight Vision System for the Boeing B737NG product line.</li>
<li>Cerevel Therapeutics Holdings, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/cere#NASDAQ">CERE</a>) gained 12.2% to $41.44 after AbbVie Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/abbv#NYSE">ABBV</a>) announced it will acquire the company for a total equity value of approximately $8.7 billion.</li>
<li>IES Holdings, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/iesc#NASDAQ">IESC</a>) gained 11.8% to $79.68 following quarterly results.</li>
<li>Couchbase, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/base#NASDAQ">BASE</a>) rose 5.7% to $21.07 as the company reported upbeat results for its third quarter and issued strong revenue outlook for FY24.</li>
<li>Alphabet Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/googl#NASDAQ">GOOGL</a>) gained 5.1% to $136.62. Google made a significant announcement, launching Gemini AI, its most powerful AI model to date.</li>
</ul>
<h3>Losers</h3>
<ul>
<li>Troika Media Group, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/trka#NASDAQ">TRKA</a>) shares fell 74.8% to $0.4812 after the company announced it filed for Chapter 11.</li>
<li>Phio Pharmaceuticals Corp. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/phio#NASDAQ">PHIO</a>) shares dipped 40% to $0.9462 as the company announced exercise of warrants for $2.8 million gross proceeds.</li>
<li>Bit Brother Limited (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/bets#NASDAQ">BETS</a>) fell 38.8% to $0.0214. Bit Brother recently announced the pricing of a $12 million registered direct offering.</li>
<li>FLJ Group Limited (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/flj#NASDAQ">FLJ</a>) fell 36% to $2.91.</li>
<li>ZyVersa Therapeutics, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/zvsa#NASDAQ">ZVSA</a>) shares tumbled 35.4% to $1.3789 after the company priced its $5 million public offering.</li>
<li>Foresight Autonomous Holdings Ltd. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/frsx#NASDAQ">FRSX</a>) fell 32.8% to $1.25 as the company announced pricing of $4.5 million registered direct offering.</li>
<li>Red Cat Holdings, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/rcat#NASDAQ">RCAT</a>) shares fell 30.5% to $0.5280. Red Cat priced public offering of 16 million common shares at $0.50 per share for gross proceeds of $8 million.</li>
<li>Sprinklr, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/cxm#NYSE">CXM</a>) shares fell 29.4% to $11.76 following weak earnings for the third quarter.</li>
<li>Wave Life Sciences Ltd. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/wve#NASDAQ">WVE</a>) shares fell 29.1% to $4.87 after the company priced its $100 million public offering of ordinary shares.</li>
<li>Nogin, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/nogn#NASDAQ">NOGN</a>) fell 26.3% to $0.1334 after the company entered Chapter 11 bankruptcy proceedings in combination with a stalking horse bid and Debtor in Possession financing provided by B. Riley Financial, Inc.</li>
<li>enGene Holdings Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/engn#NASDAQ">ENGN</a>) declined 23.8% to $7.87.</li>
<li>Sportsman&#39;s Warehouse Holdings, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/spwh#NASDAQ">SPWH</a>) fell 21.4% to $4.18. Sportsman&#39;s Warehouse said it sees fourth-quarter loss of 35 cents to 25 cents per share.</li>
<li>Phunware, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/phun#NASDAQ">PHUN</a>) fell 19% to $0.1030 as the company reported pricing of $2.8 million public offering.</li>
<li>Nikola Corporation (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/nkla#NASDAQ">NKLA</a>) fell 18.1% to $0.8047 after the company announced proposed offerings of common stock and convertible senior notes.</li>
<li>BAIYU Holdings, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/byu#NASDAQ">BYU</a>) shares fell 17.7% to $1.49.</li>
<li>Vivid Seats Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/seat#NASDAQ">SEAT</a>) declined 15.6% to $6.87. Vivid Seats announced secondary offering of 18.5 million class A common stock.</li>
<li>Argan, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/agx#NYSE">AGX</a>) fell 13.1% to $41.50 following downbeat earnings.</li>
<li>Liquidity Services, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/lqdt#NASDAQ">LQDT</a>) dipped 12.8% to $17.36 following weak sales.</li>
<li>The Duckhorn Portfolio, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/napa#NYSE">NAPA</a>) fell 10.7% to $9.11 following downbeat quarterly results.</li>
<li>C3.ai, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ai#NYSE">AI</a>) shares fell 9.8% to $26.30 after the company reported mixed second-quarter financial results and issued guidance.</li>
<li>Chewy, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/chwy#NYSE">CHWY</a>) fell 6% to $18.18 after the company reported mixed third-quarter financial results and cut FY23 net sales guidance.</li>
<li>Ollie&#39;s Bargain Outlet Holdings, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/olli#NASDAQ">OLLI</a>) declined 5.5% to $72.09.</li>
<li>Greif, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/gef#NYSE">GEF</a>) declined 5.5% to $65.83 following weak sales.</li>
<li>Veeva Systems Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/veev#NYSE">VEEV</a>) shares fell 4.1% to $171.20 after the company reported third-quarter financial results and issued guidance.</li>
</ul>
&nbsp;
Now Read This: <a href="https://www.benzinga.com/trading-ideas/long-ideas/23/12/36127763/i-like-it-very-much-jim-cramer-bullish-on-this-financial-stock-up-75-ytd"> &#39;I Like It Very Much&#39;: Jim Cramer Bullish On This Financial Stock Up 75% YTD</a>

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Why Methode Electronics Shares Are Trading Lower By Over 14%? Here Are Other Stocks Moving In Thursday's Mid-Day Session

Stifel analyst Michael Hoffman reiterates Greif (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GEF#NYSE">GEF</a>) with a Buy and maintains $94 price target.

Reiteration

Stifel Reiterates Buy on Greif, Maintains $94 Price Target

Greif (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GEF#NYSE">GEF</a>) reported its Q4 earnings results on Wednesday, December 6, 2023 at 04:15 PM.
Here's what investors need to know about the announcement.
<h3>Earnings</h3>
Greif beat estimated earnings by 20.93%, reporting an EPS of $1.56 versus an estimate of $1.29.
Revenue was down $188.00 million from the same period last year.
<h3>Past Earnings Performance</h3>
Last quarter the company beat on EPS by $0.21 which was followed by a 1.53% drop in the share price the next day.
Here's a look at Greif's past performance:

<table>
<thead>
<tr>
<th>Quarter</th>
<th>Q3 2023</th>
<th>Q2 2023</th>
<th>Q1 2023</th>
<th>Q4 2022</th>
</tr>
</thead>
<tbody>
<tr>
<td>EPS Estimate</td>
<td>1.54</td>
<td>1.32</td>
<td>1.21</td>
<td>1.93</td>
</tr>
<tr>
<td>EPS Actual</td>
<td>1.75</td>
<td>1.77</td>
<td>1.06</td>
<td>1.83</td>
</tr>
<tr>
<td>Revenue Estimate</td>
<td>1.39B</td>
<td>1.42B</td>
<td>1.34B</td>
<td>1.58B</td>
</tr>
<tr>
<td>Revenue Actual</td>
<td>1.33B</td>
<td>1.31B</td>
<td>1.27B</td>
<td>1.50B</td>
</tr>
</tbody>
</table>

To track all earnings releases for Greif <a href="https://www.benzinga.com/quote/GEF/earnings">visit their earnings calendar here.</a> 
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Recap: Greif Q4 Earnings

Guidance

Grief Sees FY24 Low-End Adj. EBITDA $585M

Grief Q4 2023 Adj EPS $1.56 Beats $1.29 Estimate, Revenue $1.308B Misses $1.337B Estimate

<h3>Companies Reporting Before The Bell</h3>
&bull; Ollie&#39;s Bargain Outlet (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OLLI#NASDAQ">OLLI</a>) is estimated to report quarterly earnings at $0.44 per share on revenue of $468.55 million.
&bull; Root (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ROOT#NASDAQ">ROOT</a>) is likely to report quarterly earnings at $0.02 per share on revenue of $64.69 million.
&bull; John Wiley &amp; Sons (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WLY#NYSE">WLY</a>) is projected to report quarterly earnings at $0.56 per share on revenue of $378.40 million.
&bull; Brown Forman Inc Class B Common Stock (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BF#NYSE">BF</a>) is likely to report quarterly earnings at $0.51 per share on revenue of $1.15 billion.
&bull; Vera Bradley (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VRA#NASDAQ">VRA</a>) is estimated to report quarterly earnings at $0.09 per share on revenue of $123.09 million.
&bull; Campbell Soup (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CPB#NYSE">CPB</a>) is likely to report quarterly earnings at $0.88 per share on revenue of $2.52 billion.
&bull; Lovesac (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LOVE#NASDAQ">LOVE</a>) is projected to report quarterly loss at $0.30 per share on revenue of $153.81 million.
&bull; United Natural Foods (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UNFI#NYSE">UNFI</a>) is estimated to report quarterly loss at $0.21 per share on revenue of $7.62 billion.
&bull; Barnes &amp; Noble Education (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BNED#NYSE">BNED</a>) is projected to report quarterly earnings at $0.43 per share on revenue of $616.31 million.
&bull; Korn Ferry (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KFY#NYSE">KFY</a>) is likely to report quarterly earnings at $0.95 per share on revenue of $686.78 million.
&bull; Thor Industries (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/THO#NYSE">THO</a>) is estimated to report quarterly earnings at $1.05 per share on revenue of $2.53 billion.
&bull; MoneyHero (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MNY#NASDAQ">MNY</a>) is expected to report earnings for its third quarter.
&bull; John Wiley &amp; Sons (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WLYB#NYSE">WLYB</a>) is projected to report earnings for its second quarter.
&bull; Vince Holding (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VNCE#NYSE">VNCE</a>) is estimated to report earnings for its third quarter.
&bull; AstroNova (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ALOT#NASDAQ">ALOT</a>) is expected to report earnings for its third quarter.
&bull; Brown Forman Inc Class A Common Stock (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BF#NYSE">BF</a>) is likely to report earnings for its second quarter.
<h3>Companies Reporting After The Bell</h3>
&bull; Alico (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ALCO#NASDAQ">ALCO</a>) is likely to report quarterly loss at $0.34 per share on revenue of $700 thousand.
&bull; Star Group (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SGU#NYSE">SGU</a>) is likely to report earnings for its fourth quarter.
&bull; Semtech (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMTC#NASDAQ">SMTC</a>) is estimated to report quarterly loss at $0.13 per share on revenue of $204.49 million.
&bull; GameStop (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GME#NYSE">GME</a>) is estimated to report quarterly loss at $0.08 per share on revenue of $1.18 billion.
&bull; DLH Hldgs (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DLHC#NASDAQ">DLHC</a>) is likely to report quarterly earnings at $0.13 per share on revenue of $103.00 million.
&bull; Greif (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GEF#NYSE">GEF</a>) is estimated to report quarterly earnings at $1.29 per share on revenue of $1.34 billion.
&bull; ChargePoint Hldgs (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CHPT#NYSE">CHPT</a>) is likely to report quarterly loss at $0.22 per share on revenue of $122.41 million.
&bull; Argan (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AGX#NYSE">AGX</a>) is projected to report quarterly earnings at $0.88 per share on revenue of $162.70 million.
&bull; Sportsman&#39;s Warehouse (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SPWH#NASDAQ">SPWH</a>) is projected to report quarterly loss at $0.12 per share on revenue of $324.04 million.
&bull; Verint Systems (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VRNT#NASDAQ">VRNT</a>) is estimated to report quarterly earnings at $0.57 per share on revenue of $215.90 million.
&bull; Oxford Industries (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OXM#NYSE">OXM</a>) is projected to report quarterly earnings at $0.95 per share on revenue of $324.65 million.
&bull; Amtech Systems (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ASYS#NASDAQ">ASYS</a>) is estimated to report quarterly earnings at $0.05 per share on revenue of $34.50 million.
&bull; Couchbase (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BASE#NASDAQ">BASE</a>) is expected to report quarterly loss at $0.18 per share on revenue of $43.10 million.
&bull; Braze (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BRZE#NASDAQ">BRZE</a>) is expected to report quarterly loss at $0.13 per share on revenue of $117.27 million.
&bull; Duckhorn Portfolio (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NAPA#NYSE">NAPA</a>) is likely to report quarterly earnings at $0.16 per share on revenue of $103.14 million.
&bull; Veeva Sys (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VEEV#NYSE">VEEV</a>) is likely to report quarterly earnings at $1.30 per share on revenue of $615.82 million.
&bull; Sprinklr (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CXM#NYSE">CXM</a>) is projected to report quarterly earnings at $0.07 per share on revenue of $180.41 million.
&bull; Chewy (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CHWY#NYSE">CHWY</a>) is estimated to report quarterly loss at $0.06 per share on revenue of $2.76 billion.
&bull; Mach Natural Resources (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MNR#NYSE">MNR</a>) is estimated to report earnings for its third quarter.
&bull; Lakeland Industries (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LAKE#NASDAQ">LAKE</a>) is expected to report quarterly earnings at $0.27 per share on revenue of $30.90 million.
&bull; C3.ai (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AI#NYSE">AI</a>) is expected to report quarterly loss at $0.18 per share on revenue of $74.33 million.
&bull; 17 Education &amp; Technology (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/YQ#NASDAQ">YQ</a>) is likely to report earnings for its third quarter.
&bull; Kewaunee Scientific (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KEQU#NASDAQ">KEQU</a>) is expected to report earnings for its second quarter.
This article was generated by Benzinga&#39;s automated content engine and reviewed by an editor.

ALCO

ALOT

ASYS

BRZE

CHPT

DLHC

LAKE

LOVE

ROOT

UNFI

VNCE

WLYB

Earnings Scheduled For December 6, 2023

Greif (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GEF#NYSE">GEF</a>) is set to give its latest quarterly earnings report on Wednesday, 2023-12-06. Here's what investors need to know before the announcement.
Analysts estimate that Greif will report an earnings per share (EPS) of $1.29. 
Greif bulls will hope to hear the company announce they've not only beaten that estimate, but also to provide positive guidance, or forecasted growth, for the next quarter.
New investors should note that it is sometimes not an earnings beat or miss that most affects the price of a stock, but the guidance (or forecast).
<h3>Past Earnings Performance</h3>
Last quarter the company beat EPS by $0.21, which was followed by a 1.53% drop in the share price the next day.
Here's a look at Greif's past performance and the resulting price change:

<table>
<thead>
<tr>
<th>Quarter</th>
<th>Q3 2023</th>
<th>Q2 2023</th>
<th>Q1 2023</th>
<th>Q4 2022</th>
</tr>
</thead>
<tbody>
<tr>
<td>EPS Estimate</td>
<td>1.54</td>
<td>1.32</td>
<td>1.21</td>
<td>1.93</td>
</tr>
<tr>
<td>EPS Actual</td>
<td>1.75</td>
<td>1.77</td>
<td>1.06</td>
<td>1.83</td>
</tr>
<tr>
<td>Price Change %</td>
<td>-1.53%</td>
<td>9.06%</td>
<td>-10.16%</td>
<td>-3.3%</td>
</tr>
</tbody>
</table>

<img src="https://www.benzinga.com/files/images/story/2023/1701788497_0.png" alt="eps graph" />
<h3>Stock Performance</h3>
Shares of Greif were trading at $70.35 as of December 04. Over the last 52-week period, shares are down 0.44%. Given that these returns are generally negative, long-term shareholders are likely unhappy going into this earnings release. 
<a href="https://www.benzinga.com/quote/GEF/earnings">To track all earnings releases for Greif visit their earnings calendar on our site.</a>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Preview: Greif's Earnings

Highlights &nbsp;
<ul>
<li>IPACKCHEM&nbsp;is a global leader in premium barrier and non-barrier jerrycans and small plastic containers</li>
<li>Platform investment supports future growth in EMEA and APAC, with unique barrier technology, best-in-class facilities across five continents, and strong technical and operational management</li>
<li>Favorable exposure to secular growth markets in agriculture, specialty chemicals, flavor &amp; fragrances, and pharmaceutical &amp; medical diagnostics</li>
<li>Financial profile is immediately accretive to EBITDA margins and free cash flow</li>
<li>Compelling value at 9.4x last twelve months adjusted EBITDA of $57 million and 8.4x synergized1 EBITDA of $64 million for a global leader with nearly 25% EBITDA margins and 65% cash conversion</li>
<li>Planned acquisition is fully aligned with Greif's enterprise strategy of growing into margin-accretive, resin-based products with strong circularity characteristics serving multiple end markets</li>
</ul>
Note: all financials translated based on 1.05/1.00 EUR to USD exchange rate as of October 18, 2023 (1) Estimated synergies of $7 million represent Greif low-end estimate for synergy capture within 48 months of planned ownership based on information available as of October 31, 2023; upside potential will be refined throughout that period and updates will be communicated as synergies are realized.
Transaction Overview Greif, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GEF#NYSE">GEF</a>, GEF.B)))), a global leader in industrial packaging products and services, announced today that it has entered into exclusive negotiations to acquire I PACKCHEM Group SAS, a global leader in premium barrier and non-barrier jerrycans and small plastic containers, from an affiliate of SK Capital Partners, in a cash transaction valued at $538 million. The planned transaction would be funded through available capacity in Greif's existing credit facilities and would be expected to close by the end of the second quarter of Greif's 2024 fiscal year, subject to prior completion of the information-consultation processes under French law and closing conditions, including regulatory clearances.
IPACKCHEM is a global market leader in the production of high performance plastic packaging. Headquartered in Paris, France, the IPACKCHEM&nbsp;footprint includes over 1,400 employees in 13 operating facilities located in eight countries. For the last twelve months ended September 30, 2023, IPACKCHEM&nbsp;generated sales of approximately $235 million and adjusted EBITDA of approximately $57 million.
A presentation containing additional information on the planned acquisition is available for review at the Greif investor relations website at <a href="https://www.globenewswire.com/Tracker?data=cW0DARO0Ia_AKg6TjAUhvq-4YJ8utCurrFRFxUaRkvAWZZsOsA3oxjYLDTuGqsawD71wPU2y86--8X1MNAwjwBkMmv5ljaHTYjypAIlfok8=">https://investor.greif.com/</a>.
"The IPACKCHEM&nbsp;portfolio is in perfect alignment with Greif's strategic growth aspirations in jerrycans and other small plastics," said Greif's President and Chief Executive Officer, Ole Rosgaard. "Its state-of-the-art facilities are located in many of the regions we already serve, leading to significant value creation opportunities. Further, IPACKCHEM&nbsp;allows us to enter into new and attractive geographies and end markets with a scaled position upon which we can further grow through organic investment. Greif is excited and will be eager to welcome the IPACKCHEM&nbsp;colleagues to our family and create lasting value together when the planned transaction is completed."
"Over the last three decades&nbsp;IPACKCHEM built a global platform delivering Safe, Sustainable, and Secure packaging solutions and we are excited for our next chapter with Greif," said Jean-Philippe Morvan, Chief Executive Officer of IPACKCHEM. "Greif's industry expertise and customer service orientation will enhance our value proposition to our global customer base," Jean Philippe added. "I would like to thank SK Capital for their strong partnership through our most recent phase of transformational growth."
IPACKCHEM&nbsp;has been owned by SK Capital since 2021 and Stephen D'Incelli, Managing Director at SK Capital, said: "It has been a privilege to work closely with Jean-Philippe and the&nbsp;IPACKCHEM team and we are pleased to have helped the business execute significant organic and M&amp;A investments to drive value creation and attract a highly complementary strategic buyer in Greif."

Greif Plans To Acquire IPACKCHEM Group SAS, A Global Leader In Premium Barrier And Non-Barrier Jerrycans And Small Plastic Containers, From An Affiliate Of SK Capital Partners, In A Cash Transaction Valued At $538M

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