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Greif: Fiscal 3Q Earnings Snapshot

DELAWARE, Ohio (AP) _ Greif Inc. (GEF) on Wednesday reported fiscal third-quarter net income of $20.7 million.

On a per-share basis, the Delaware, Ohio-based company said it had profit of 35 cents. Earnings, adjusted for one-time gains and costs, came to 85 cents per share.

The results did not meet Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 86 cents per share.

The industrial packaging company posted revenue of $1.08 billion in the period.

Greif expects full-year earnings in the range of $3 to $3.20 per share.

Greif shares have dropped 11% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $39.40, an increase of 23% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on GEF at https://www.zacks.com/ap/GEF