- Greif (NYSE:NYSE:GEF) reports revenue growth was flat Y/Y in FQ2 after adjusting the impact of divestiture and currency translation.
- Revenue by segment: Rigid industrial packaging & services: $589.6M (-11.6%); Paper packaging & services: $167.2M (+4.2%); Flexible products & services: $76.2M (-7.1%); Land management: $6.6M (-4.3%).
- Gross margin rate improved 90 bps to 20.7%.
- Adjusted operating margin rate increased 150 bps to 9.4%.
- Adjusted EBITDA expanded 4.9% Y/Y to $109.6M.
- The company expects adjusted EPS in the range of $2.20 to $2.46 for FY2016.