Packaging firm Greif rises after Q2 profit beats estimates

Greif

07/06/2023 22:53

** Shares of U.S.-based packaging products firm Greif
 GEF.N  up 5.3% at $67.65 after market
    ** Co beats Q2 profit expectations on improving supply chain
cost measures
    ** Reports Q2 adjusted EPS of $1.77, topping analysts'
average estimate of $1.32, per Refinitiv data
    ** However, net sales fall 21.5% to $1.31 bln, missing
analysts' expectation of $1.42 bln, hurt by lower volumes
    ** Up to Wednesday's close, GEF down 4.2% so far in 2023

 (Reporting by Anne Florentyna Gnanaraja Sekar in Bengaluru)
 ((AnneFlorentyna.GnanarajaSekar@thomsonreuters.com;))