Greif (GEF) Tops Q3 EPS by 20c
Get Alerts GEF Hot Sheet
EPS Growth %: -16.0%
Financial Fact:
Net income: 46.4M
Today's EPS Names:
MAXN, CSTR, ACU, More
Join SI Premium – FREE
Greif (NYSE: GEF) reported Q3 EPS of $0.60, $0.20 better than the analyst estimate of $0.40. Revenue for the quarter came in at $930 million versus the consensus estimate of $931.59 million.
David Fischer, president and chief executive officer, stated, “We are pleased with the progress of our Transformation initiative. While much work remains, during the third quarter we continued to reduce complexity in our businesses, achieved a 16% decrease in SG&A expenses excluding the impact of currency translation compared to a year ago, and improved capacity utilization in our rigid industrial packaging segment. The benefits from these concentrated efforts are becoming more evident and positive momentum is increasing with each passing month. I am especially pleased with the hard work and efforts of so many Greif colleagues all over the world to achieve our stated goals.”
Mr. Fischer added, “Concerning the growth elements of our transformation activities, we are equally encouraged with the progress made on several key initiatives including our IBC global expansion efforts and by the exceptional performance of recently completed investments at the Riverville, Virginia mill and the additional corrugator in our Paper Packaging segment. These transformation improvements bode well for 2016.”
For earnings history and earnings-related data on Greif (GEF) click here.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Growth isn't weak enough to truly undercut inflation pressures - BMO
- Acme United (ACU) Misses Q1 EPS by 20c
- American Express (AXP) down despite beating Q1 estimates on top and bottom lines
Create E-mail Alert Related Categories
Earnings, Management CommentsRelated Entities
EarningsSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!