Greif Q3 Results Miss Estimates

(RTTNews) - Greif, Inc. (GEF, GEF.B) reported net income for the third quarter of $46.7 million or $0.80 per Class A share, compared to $37.5 million or $0.64 per Class A share for the year-ago quarter.

The latest quarter results include special items that reduced net income by $0.04 per Class A share.

Net sales for the third quarter increased 2.4% to $1.13 billion from $1.10 billion a year ago, due to higher volumes combined with higher containerboard selling prices.

Analysts polled by Thomson Reuters expected the company to earn $0.89 per share on revenue of $1.15 billion for the third quarter. Analysts' estimates typically exclude special items.

The company reiterated its fiscal 2013 EBITDA guidance of $475 million to $500 million.