Greif: Fiscal 4Q Earnings Snapshot
DELAWARE, Ohio (AP) _ Greif Inc. (GEF) on Wednesday reported fiscal fourth-quarter profit of $65 million.
The Delaware, Ohio-based company said it had net income of $1.09 per share. Earnings, adjusted for non-recurring costs, came to $1.24 per share.
The results exceeded Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $1.11 per share.
The industrial packaging company posted revenue of $1.23 billion in the period, falling short of Street forecasts. Three analysts surveyed by Zacks expected $1.28 billion.
For the year, the company reported profit of $171 million, or $2.89 per share. Revenue was reported as $4.6 billion.
Greif expects full-year earnings in the range of $3.63 to $4.13 per share.
Greif shares have increased 16% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $43.18, a decrease of 14% in the last 12 months.