Greif's (GEF) Q4 Earnings Trump, Sales Lag Estimates, Up Y/Y
Zacks Investment Research | Dec 04, 2019 09:52PM ET
Greif, Inc. (NYSE:GEF) reported adjusted earnings per share of $1.24 for fourth-quarter fiscal 2019 (ended Oct 31, 2019), beating the Zacks Consensus Estimate of $1.11. The figure also improved 14.8% year over year. The company registered year-over-year improvement in earnings despite a weakening industrial economy.
Including one-time items, earnings per share increased to $1.09 per share from the year-ago quarter’s 67 cents per share.
Operational Update
Sales climbed 24.7% year over year to $1,232.1 million. However, the reported figure lagged the Zacks Consensus Estimate of $1,277 million.
Cost of sales went up 24.2% year over year to $973.1 million. Gross profit came in at $259 million, recording an improvement of 26.3% from the prior-year quarter. Gross margin came in at 21.0% compared with the year-ago quarter’s 20.7%.
Selling, general and administrative (SG&A) expenses flared up 42.5% year over year to $130.4 million. Operating profit jumped 12% year over year to $115.7 million. Operating margin was 9.4% in the reported quarter compared with the 10.4% recorded in the quarter last year. Adjusted EBITDA increased 31.6% year over year to $186.8 million in the reported quarter.
Greif, Inc. Price, Consensus and EPS Surprise
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