Q2 2026 Greystone Logistics Inc Earnings Call Transcript
Key Points
- Greystone Logistics Inc (GLGI) has secured an eight-month contract to process 18 million pounds of plastic, which will start generating revenue soon.
- The company has a strong recycling infrastructure, previously recycling over 300,000 pallets annually.
- Greystone Logistics Inc (GLGI) is exploring new opportunities with Walmart, including testing a cellular track pallet and designing a new warehouse pallet.
- The company is working with Adaptive Pallet Solutions on returnable programs, indicating potential for growth in service offerings.
- Greystone Logistics Inc (GLGI) is focusing on closed-loop pallet systems, which are gaining demand over traditional open-loop systems.
- The sudden termination of an 11-year relationship with iGPS resulted in immediate revenue loss and layoffs of about 140 employees.
- The company is currently operating with a reduced headcount, down to approximately 80 employees from a previous high of 250.
- Greystone Logistics Inc (GLGI) has not yet leveraged $10 million worth of new equipment, indicating underutilization of resources.
- The company is facing cash flow challenges, leading to a shift to interest-only payments on its debt for the calendar year 2026.
- There is uncertainty surrounding the renewal of the revolver, although management is confident it will be renewed.
Good day, everyone, and welcome to today's Greystone Q2 results conference call. (Operator Instructions) Please note this call is being recorded, and I will be standing by if you need assistance.
Now it's my pleasure to turn the call over to Brendan Hopkins. Brendan, please go ahead.
Thank you, and thank you, everyone, for joining us today. We have a brief Safe Harbor and then we'll get started. So except for historical information contained herein, the statements in this conference call are forward-looking statements that are made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve known and unknown risks and uncertainties that may cause our actual results in future periods to differ materially from forecasted results.
With that said, I would like to turn the call over to Warren Kruger, CEO of Greystone.
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