DELAWARE, Ohio, Dec. 04, 2024 (GLOBE NEWSWIRE) — Greif, Inc. (NYSE: NYSE:, GEF.B), issued a revised earnings release to correct an error in a previously released release titled Greif Reports Fourth Quarter and Fiscal 2024 Results (Previous Earnings Release) released on December 4, 2024 at 4:01 PM ET.
In the previous earnings release, fourth quarter 2024 net income, excluding the impact of adjustments, misstated an income tax expense of $16.0 million related to the (gain) loss on disposal of the business, net. This resulted in reporting net income, excluding the impact of adjustments, for the period of $49.6 million and diluted Class A earnings per share, excluding the impact of adjustments, for the period of $0.85. Adjusted net income, excluding the impact of adjustments, for the period was $65.5 million and adjusted diluted Class A earnings per share, excluding the impact of adjustments, was $1.13 for the period.
A revised earnings release was issued on December 4, 2024 at 10:59 PM ET that reflects these corrected amounts and corresponding changes to the text and various financial schedules presented in the Prior Earnings Release. Reconciliations of net income, excluding the impact of adjustments, to net income and Class A diluted earnings per share, excluding the impact of adjustments, to Class A diluted earnings per share, which are the most directly comparable financial measures under GAAP, are included in the financial schedules that are part revised earnings announcements.
About Greif, Inc.
Greif is a global leader in industrial packaging products and services and pursues its vision: to be the most successful customer service company in the world. The company manufactures steel, plastic and fiber drums, medium bulk containers, recovered containers, canisters and other small plastics, containerboard, corrugated board and products, uncoated recycled board, coated recycled board, tubes and cores and a diverse mix of specialty products. The company also manufactures packaging accessories and provides other packaging services for a wide range of industries. In addition, Greif manages timber properties in the southeastern United States. The company has a workforce of over 14,000 colleagues spread across more than 250 facilities in 37 countries serving global as well as regional clients. Additional information is available on the Company’s website www.greif.com.
Contact:
Bill D’Onofrio
614-499-7233
[email protected]
Source: Greif, Inc.
