{"id":4215,"date":"2024-12-06T07:57:17","date_gmt":"2024-12-06T12:57:17","guid":{"rendered":"https:\/\/www.packagingindustrynews.com\/?p=4215"},"modified":"2024-12-06T07:57:17","modified_gmt":"2024-12-06T12:57:17","slug":"greif-reports-6-5-dip-in-net-income-in-fourth-quarter-of-2024","status":"publish","type":"post","link":"https:\/\/www.packagingindustrynews.com\/?p=4215","title":{"rendered":"Greif reports 6.5% dip in net income in fourth quarter of 2024"},"content":{"rendered":"


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For full-year 2024, Greif\u2019s net income decreased by 27% to $262.1m. Credit: Gorodenkoff via Shutterstock.<\/figcaption><\/figure>\n<\/p><\/div>\n

Industrial packaging products and services provider Greif<\/a> has reported a decrease in net income to $63.4m in the fiscal fourth quarter (Q4) of 2024 compared to $67.8m in the same quarter of the previous year, a 6.5% decline.<\/p>\n

Greif\u2019s net sales are primarily influenced by the volume of primary products sold, selling prices, product mix, and the impact of changes in foreign currencies against the US dollar.<\/p>\n

Adjusted earnings before interest, taxes, depreciation, and amortisation (EBITDA) also experienced a decrease, down 2% to $197.6m compared to $201.6m previously.<\/p>\n

The company\u2019s net cash from operating activities declined by $16.3m to $187.2m, although adjusted free cash flow saw an increase of $8.5m to $144.7m.<\/p>\n

For the full fiscal year, Greif\u2019s net income decreased by 27% to $262.1m compared to $359.2m in fiscal year 2023.<\/p>\n

The company\u2019s adjusted EBITDA for the year also dropped by 15.6% to $694.2m from $822.2m.<\/p>\n

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