Greif Inc. (GEF, Financial) filed Quarterly Report for the period ended 2011-01-31.
Greif Inc. has a market cap of $3.01 billion; its shares were traded at around $63.8 with a P/E ratio of 13.96 and P/S ratio of 0.87. The dividend yield of Greif Inc. stocks is 2.63%. Greif Inc. had an annual average earning growth of 9.9% over the past 10 years. GuruFocus rated Greif Inc. the business predictability rank of 3-star.
Acquisition-related costs included in SG&A expenses were $8.5 million and $10.1 million for the first quarter of 2011 and 2010, respectively. Acquisition-related costs for the first quarter of 2010 included $10.1 million of costs which would have been previously capitalized as part of the purchase price of acquisitions. A total of $6.1 million of the first quarter 2010 acquisition-related costs were incurred prior to November 1, 2009, the date on which we adopted ASC 805, Business Combinations. In addition, we recorded post acquisition-related integration costs of $6.1 million in the first quarter of 2011, which represented costs associated with integrating acquired companies, such as costs associated with implementing the Greif Business System, sourcing and supply chain initiatives, and finance and administrative reorganizations.
Operating profit was $68.7 million and $50.7 million in the first quarter of 2011 and 2010, respectively. Operating profit before the impact of restructuring charges and acquisition-related costs was $80.3 million for the first quarter of 2011 compared to $66.7 million for the first quarter of 2010. The $13.6 million increase in operating profit before the impact of restructuring charges and acquisition-related costs was due to Flexible Products & Services ($6.0 million increase), Paper Packaging ($15.1 million increase) and Land Management ($0.1 million increase), partially offset by Rigid Industrial Packaging & Services ($7.6 million decrease).
Operating profit was $46.1 million in the first quarter of 2011 and $50.1 million in the first quarter of 2010. Operating profit before the impact of restructuring charges and acquisition-related costs decreased to $49.8 million in the first quarter of 2011 from $57.5 million in the first quarter of 2010. The $7.7 million decrease in operating profit before the impact of restructuring charges and acquisition-related costs was primarily due to the lower gross profit margin and an increase in employment-related costs for this segment. Also included in operating profit is a loss on the sale of property, plant and equipment of $0.6 million in the first quarter of 2011 and a gain on the sale of property, plant and equipment of $1.0 million in the first quarter of 2010.
Operating profit was $18.1 million and $3.7 million in the first quarter of 2011 and 2010, respectively. Operating profit before the impact of restructuring charges increased to $18.8 million in the first quarter of 2011 from $3.7 million in the first quarter of 2010 primarily due to the higher gross profit margin for this segment. Also included in operating profit is a gain on the sale of property, plant and equipment of $1.2 million and $0.0 million in the first quarter of 2011 and 2010, respectively.
Operating profit was $3.1 million and $3.0 million in the first quarter of 2011 and 2010, respectively. Included in these amounts were profits from the sale of special use properties of $1.6 million and $0.3 million in the first quarter of 2011 and 2010, respectively. Also included in operating profit is a gain on the sale of property, plant and equipment of $1.6 million and $0.3 million in the first quarter of 2011 and 2010, respectively.
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Greif Inc. has a market cap of $3.01 billion; its shares were traded at around $63.8 with a P/E ratio of 13.96 and P/S ratio of 0.87. The dividend yield of Greif Inc. stocks is 2.63%. Greif Inc. had an annual average earning growth of 9.9% over the past 10 years. GuruFocus rated Greif Inc. the business predictability rank of 3-star.
Highlight of Business Operations:
Net sales were $943.8 million in the first quarter of 2011 compared to $709.7 million in the first quarter of 2010. The 33.0 percent increase was due to higher sales volumes and higher selling prices due to the pass-through of higher raw material costs, partially offset by foreign currency translation. The $234.1 million increase was due to Rigid Industrial Packaging & Services ($89.1 million increase), Flexible Products & Services ($116.7 million increase) and Paper Packaging ($28.5 million increase), partially offset by Land Management ($0.2 million decrease).Acquisition-related costs included in SG&A expenses were $8.5 million and $10.1 million for the first quarter of 2011 and 2010, respectively. Acquisition-related costs for the first quarter of 2010 included $10.1 million of costs which would have been previously capitalized as part of the purchase price of acquisitions. A total of $6.1 million of the first quarter 2010 acquisition-related costs were incurred prior to November 1, 2009, the date on which we adopted ASC 805, Business Combinations. In addition, we recorded post acquisition-related integration costs of $6.1 million in the first quarter of 2011, which represented costs associated with integrating acquired companies, such as costs associated with implementing the Greif Business System, sourcing and supply chain initiatives, and finance and administrative reorganizations.
Operating profit was $68.7 million and $50.7 million in the first quarter of 2011 and 2010, respectively. Operating profit before the impact of restructuring charges and acquisition-related costs was $80.3 million for the first quarter of 2011 compared to $66.7 million for the first quarter of 2010. The $13.6 million increase in operating profit before the impact of restructuring charges and acquisition-related costs was due to Flexible Products & Services ($6.0 million increase), Paper Packaging ($15.1 million increase) and Land Management ($0.1 million increase), partially offset by Rigid Industrial Packaging & Services ($7.6 million decrease).
Operating profit was $46.1 million in the first quarter of 2011 and $50.1 million in the first quarter of 2010. Operating profit before the impact of restructuring charges and acquisition-related costs decreased to $49.8 million in the first quarter of 2011 from $57.5 million in the first quarter of 2010. The $7.7 million decrease in operating profit before the impact of restructuring charges and acquisition-related costs was primarily due to the lower gross profit margin and an increase in employment-related costs for this segment. Also included in operating profit is a loss on the sale of property, plant and equipment of $0.6 million in the first quarter of 2011 and a gain on the sale of property, plant and equipment of $1.0 million in the first quarter of 2010.
Operating profit was $18.1 million and $3.7 million in the first quarter of 2011 and 2010, respectively. Operating profit before the impact of restructuring charges increased to $18.8 million in the first quarter of 2011 from $3.7 million in the first quarter of 2010 primarily due to the higher gross profit margin for this segment. Also included in operating profit is a gain on the sale of property, plant and equipment of $1.2 million and $0.0 million in the first quarter of 2011 and 2010, respectively.
Operating profit was $3.1 million and $3.0 million in the first quarter of 2011 and 2010, respectively. Included in these amounts were profits from the sale of special use properties of $1.6 million and $0.3 million in the first quarter of 2011 and 2010, respectively. Also included in operating profit is a gain on the sale of property, plant and equipment of $1.6 million and $0.3 million in the first quarter of 2011 and 2010, respectively.
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