Greif Approves Share Repurchase, Divulges 2020 Growth Plans
Zacks Investment Research | Jun 28, 2017 10:05PM ET
On Investor Day 2017, Greif, Inc. (NYSE:GEF) disclosed the company’s 2020 growth plans. The industrial packaging solutions provider will focus on disciplined operational execution of strategies to fuel long-term growth.
The company anticipates that operating profit before special items will be in the range of $425–$465 million in 2020. It also guides free cash flow range of $230–$270 million in 2020. In addition, Greif introduced its “Path to Growth” plan, which highlights the process, strategy and acquisition priorities.
Greif also announced the authorization of repurchase of up to four million shares of Class A Common Stock or Class B Common Stock or any combination of the foregoing. Thus, the company will benefit from the further execution of transformation efforts.
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