Greif, Inc. Beats Estimates; Raises Guidance (GEF)

Greif, Inc. GEF reports Q2 EPS of $1.34 versus estimates of $1.21. Greif, Inc. reports revenues of $921.3 million versus estimates of $899.91 million. Revenues increased 28.4% year over year. The company raised EPS guidance for FY 2010, saying it now sees $4.15 to $4.35 per share, up from $4.05-4.30. The Street consensus is $4.22 per share, The company anticipates “sequential improvement in sales volumes despite some moderation in the growth trajectory, additional productivity improvements from the Greif Business System, contributions from acquisitions and full realization of the permanent cost reductions implemented in 2009,” according to Briefing.com Shares of GEF did not trade is the after-hours as of the time of this writing.