DELAWARE, Ohio (AP) _ Greif Inc. (GEF) on Wednesday reported fiscal third-quarter earnings of $62.7 million.
The Delaware, Ohio-based company said it had profit of $1.06 per share. Earnings, adjusted for restructuring costs and costs related to mergers and acquisitions, were $1.26 per share.
The results surpassed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $1.18 per share.
The industrial packaging company posted revenue of $1.25 billion in the period, which did not meet Street forecasts. Four analysts surveyed by Zacks expected $1.34 billion.
Greif expects full-year earnings in the range of $3.70 to $4 per share.
Greif shares have fallen 13% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $32.34, a decrease of 41% in the last 12 months.