This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Greif's CEO Discusses Q3 2011 Results - Earnings Call Transcript

Please go to Slide 5. During the third quarter, we executed two Rigid Industrial packaging acquisitions with operations in EMEA Latin America that extend our global footprint and capabilities. Immediately following the end of the third quarter, we completed an acquisition in the reconditioning market in Europe that complements our existing North American reconditioning business. Dave will talk about these acquisitions and our growth platforms later. In addition, as you’re aware, we completed a €200 million senior note offering during the quarter to facilitate growth and maintain liquidity.

Now to Slide 6. Our sustainability efforts must enhance our profits as well as be good for people on the planet. We are on track to achieve our energy objective of 15% reduction per unit by 2015, which will save $18 million per year based upon current utility costs. Year-to-date, we’re tracking at just over half that at 8%, saving about $10 million.

Our carbon reduction results to date are commensurate with the reductions we’re seeing in energy. A number of renewable energy products have come online in 2011 that further reduced our carbon emissions.

During the quarter, we were honored by a major customer, DuPont, for developing a packaging innovation that reduces landfill waste and we continue our active involvement with the World Business Council for Sustainable Development and the Clinton Global Initiative. These organizations provide venue to share best practices and strengthen relationship with world class corporations.

Now Rob will provide you with an update on our financial results.

Robert M. McNutt

Thanks, Mike. Please turn to Slide 7. It includes key line items of our performance for the third quarter of 2011 and comparative periods. The 22% increase in net sales for the third quarter was primarily due to acquisitions completed during the last year, higher selling prices and the positive impact from foreign currency translations.

Read the rest of this transcript for free on

3 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $93.74 0.00%
FB $117.58 0.00%
GOOG $693.01 0.00%
TSLA $240.76 0.00%
YHOO $36.60 0.00%


Chart of I:DJI
DOW 17,773.64 -57.12 -0.32%
S&P 500 2,065.30 -10.51 -0.51%
NASDAQ 4,775.3580 -29.9330 -0.62%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs