Why Greif Shares Are Trading Higher Today

Greif Inc. GEF shares are trading higher after the company reported better-than-expected second-quarter adjusted earnings per share and sales results. The company also issued full-year 2022 adjusted earnings per share guidance above analyst estimates.

Greif reported quarterly earnings of $2.41 per share which beat the analyst consensus estimate of $1.71 and sales results of $1.67 billion which beat the analyst consensus estimate of $1.51 billion.

The company expects full year 2022 earnings per share to be in the range of $7.45 and $7.75 versus the $6.61 estimate

"Our second quarter results are a testament to our team's continued execution and customer service focus in overcoming significant ongoing headwinds related to inflation, supply chain, and the pandemic to produce another quarter of record results," said Ole Rosgaard, President and Chief Executive Officer of Greif.

Greif Inc is a producer of industrial packaging products and services with manufacturing facilities located in many countries.

Greif Inc. shares were trading about 5.9% higher at $64.49 per share on Thursday at the time of publication.