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The Zacks Consensus Estimate for the company’s fiscal fourth-quarter earnings is pegged at $1.30 per share, suggesting a fall of 28.9% from the year-ago reported number.
The Zacks Consensus Estimate for fiscal fourth-quarter total revenues is pinned at $1.31 billion, indicating a decrease of 12.3% from the year-ago quarter’s reported level.
In the last reported quarter, the company’s earnings beat the Zacks Consensus Estimate, while revenues missed the same. The top and bottom lines fell year over year. Greif has a trailing four-quarter earnings surprise of 6.1%, on average.
Key Factors
Greif’s fiscal fourth-quarter performance is likely to have benefited from the implementation of cost rationalization measures within its system. The to-be-reported quarter’s performance is also likely to have gained from the company’s focus on operational execution, capital discipline, and a strong and diverse product portfolio.
However, Greif had been witnessing a decline in demand, the impacts of elevated costs and persisting supply-chain issues. These are expected to have offset the above-mentioned benefits in the quarter.
The Global Industrial Packaging segment has witnessed lower volumes over the past few quarters. Demand in North America has weakened due to muted domestic spending amid inflationary pressures and higher interest rates.
Lower volumes and average selling prices are also likely to have impacted the company’s performance in the to-be-reported quarter. Our model projects the segment’s revenues to fall 10.9% year over year to $735 million. We expect Global Industrial Packaging’s operating income to be $79 million, indicating a year-over-year rise of 16.6%.
The company’s Paper Packaging segment has also been bearing the brunt of lower volumes over the past few quarters. Demand has been soft across most key end markets, with continued weakness in textiles and paper core. We project the segment’s revenues to fall 14.3% to $571 million in the quarter. The operating income is estimated to fall 51.1% to $40.8 million.
Our model predicts the Land Management segment’s sales to fall 3.4% to $5 million in the fourth quarter of fiscal 2023. We predict the segment’s operating income to fall 43.1% year over year to $1.4 million.
What the Zacks Model Unveils
Our proven model doesn’t conclusively predict an earnings beat for Greif this season. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. But that’s not the case here.
You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Earnings ESP: The Earnings ESP for Greif is 0.00%.
Zacks Rank: Greif currently carries a Zacks Rank of 3.
Price Performance
Greif’s shares have gained 4.2% in the past year compared with the industry’s growth of 0.8%.
Image Source: Zacks Investment Research
Stocks Worth a Look
Here are some stocks worth considering, as these have the right combination of elements to post an earnings beat in the upcoming releases.
The Zacks Consensus Estimate for LW’s fiscal second-quarter 2024 earnings is pegged at $1.40 per share, suggesting a 9.4% increase from the year-ago quarter’s reported level. LW has a trailing four-quarter average surprise of 46.2%.
Casey's General Stores, Inc. (CASY - Free Report) is set to release its second-quarter fiscal 2024 earrings on Dec 11. It has an Earnings ESP of +13.86% and a Zacks Rank of 2.
The Zacks Consensus Estimate for CASY’s second-quarter earnings is pegged at $3.65 per share. CASY has a trailing four-quarter average surprise of 17.5%.
The Cheesecake Factory Incorporated (CAKE - Free Report) is expected to release fourth quarter 2023 results on Feb 28. It currently has an Earnings ESP of +0.12% and a Zacks Rank of 3.
The Zacks Consensus Estimate for CAKE’s fourth-quarter 2023 earnings is pegged at $2.62 per share. It has a trailing four-quarter average surprise of 1.2%.
Image: Bigstock
Greif (GEF) to Report Q4 Earnings: What's in the Offing?
Greif, Inc. (GEF - Free Report) is scheduled to release fourth-quarter fiscal 2023 financial numbers after the closing bell on Dec 06.
Q4 Estimates
The Zacks Consensus Estimate for the company’s fiscal fourth-quarter earnings is pegged at $1.30 per share, suggesting a fall of 28.9% from the year-ago reported number.
The Zacks Consensus Estimate for fiscal fourth-quarter total revenues is pinned at $1.31 billion, indicating a decrease of 12.3% from the year-ago quarter’s reported level.
Greif, Inc. Price and EPS Surprise
Greif, Inc. price-eps-surprise | Greif, Inc. Quote
Q3 Results
In the last reported quarter, the company’s earnings beat the Zacks Consensus Estimate, while revenues missed the same. The top and bottom lines fell year over year. Greif has a trailing four-quarter earnings surprise of 6.1%, on average.
Key Factors
Greif’s fiscal fourth-quarter performance is likely to have benefited from the implementation of cost rationalization measures within its system. The to-be-reported quarter’s performance is also likely to have gained from the company’s focus on operational execution, capital discipline, and a strong and diverse product portfolio.
However, Greif had been witnessing a decline in demand, the impacts of elevated costs and persisting supply-chain issues. These are expected to have offset the above-mentioned benefits in the quarter.
The Global Industrial Packaging segment has witnessed lower volumes over the past few quarters. Demand in North America has weakened due to muted domestic spending amid inflationary pressures and higher interest rates.
Lower volumes and average selling prices are also likely to have impacted the company’s performance in the to-be-reported quarter. Our model projects the segment’s revenues to fall 10.9% year over year to $735 million. We expect Global Industrial Packaging’s operating income to be $79 million, indicating a year-over-year rise of 16.6%.
The company’s Paper Packaging segment has also been bearing the brunt of lower volumes over the past few quarters. Demand has been soft across most key end markets, with continued weakness in textiles and paper core. We project the segment’s revenues to fall 14.3% to $571 million in the quarter. The operating income is estimated to fall 51.1% to $40.8 million.
Our model predicts the Land Management segment’s sales to fall 3.4% to $5 million in the fourth quarter of fiscal 2023. We predict the segment’s operating income to fall 43.1% year over year to $1.4 million.
What the Zacks Model Unveils
Our proven model doesn’t conclusively predict an earnings beat for Greif this season. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. But that’s not the case here.
You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Earnings ESP: The Earnings ESP for Greif is 0.00%.
Zacks Rank: Greif currently carries a Zacks Rank of 3.
Price Performance
Greif’s shares have gained 4.2% in the past year compared with the industry’s growth of 0.8%.
Image Source: Zacks Investment Research
Stocks Worth a Look
Here are some stocks worth considering, as these have the right combination of elements to post an earnings beat in the upcoming releases.
Lamb Weston Holdings, Inc. (LW - Free Report) is expected to release fiscal second-quarter 2024 results on Jan 01. The company has an Earnings ESP of +0.71% and currently sports a Zacks Rank of 1. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for LW’s fiscal second-quarter 2024 earnings is pegged at $1.40 per share, suggesting a 9.4% increase from the year-ago quarter’s reported level. LW has a trailing four-quarter average surprise of 46.2%.
Casey's General Stores, Inc. (CASY - Free Report) is set to release its second-quarter fiscal 2024 earrings on Dec 11. It has an Earnings ESP of +13.86% and a Zacks Rank of 2.
The Zacks Consensus Estimate for CASY’s second-quarter earnings is pegged at $3.65 per share. CASY has a trailing four-quarter average surprise of 17.5%.
The Cheesecake Factory Incorporated (CAKE - Free Report) is expected to release fourth quarter 2023 results on Feb 28. It currently has an Earnings ESP of +0.12% and a Zacks Rank of 3.
The Zacks Consensus Estimate for CAKE’s fourth-quarter 2023 earnings is pegged at $2.62 per share. It has a trailing four-quarter average surprise of 1.2%.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.