{"id":1954,"date":"2024-08-29T06:24:11","date_gmt":"2024-08-29T10:24:11","guid":{"rendered":"https:\/\/www.packagingindustrynews.com\/?p=1954"},"modified":"2024-08-29T06:24:11","modified_gmt":"2024-08-29T10:24:11","slug":"greifs-net-income-decreases-by-3-5-in-q3-fy24","status":"publish","type":"post","link":"https:\/\/www.packagingindustrynews.com\/?p=1954","title":{"rendered":"Greif\u2019s net income decreases by 3.5% in Q3 FY24 \u00a0"},"content":{"rendered":"


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Greif is a global industrial packaging products and services company. Credit: JHVEPhoto\/Shutterstock. <\/figcaption><\/figure>\n<\/p><\/div>\n

Industrial packaging company Greif<\/a> has reported a 3.5% decrease in net income for the third quarter (Q3) of fiscal year 2024 (FY24), with figures standing at $87.1m compared to $90.3m in Q3 FY23.\u00a0\u00a0<\/p>\n

The company\u2019s earnings per diluted Class A share dropped slightly from $1.55 in the third quarter of FY23 to $1.50 in Q3 FY24.\u00a0\u00a0<\/p>\n

However, the company experienced a rise in net sales, reaching $1.45bn for the quarter ending 31 July 2024, up from $1.33bn in Q3 FY23.\u00a0<\/p>\n

Gross profit of Greif for the quarter was reported at $290.4m in Q3 FY24, a decrease from $307.0m in the same period last year.\u00a0\u00a0<\/p>\n

On the other hand, the company\u2019s operating profit showed a positive trend, increasing to $171.0m over the quarter from $155.6m in Q3 FY23.\u00a0<\/p>\n

The global Industrial Packaging segment of Greif saw a significant increase in net sales, which rose by $84.2m to $846.0m.\u00a0\u00a0<\/p>\n

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