Greif, Inc. 4Q net sales decreased $0.9 million to $867.6 million compared to $868.5 million for the 4Q 2015. Net sales, after adjusting for the effect of divestitures for both quarters and currency translation for the 4Q 2016, increased 5.3% compared to the 4Q 2015.

Packaging

Greif 4Q net sales decreased to $867.6 million

Greif, Inc. 4Q net sales decreased $0.9 million to $867.6 million compared to $868.5 million for the 4Q 2015. Net sales, after adjusting for the effect of divestitures for both quarters and currency translation for the 4Q 2016, increased 5.3% compared to the 4Q 2015, as the company said in the press release received by Lesprom Network.

Net income of $8.5 million or $0.14 per diluted Class A share compared to net income of $12.4 million or $0.21 per diluted Class A share for the 4Q 2015.

4Q gross profit improved to $183.4 million compared to $168 million for the 4Q 2015. Gross profit margin improved to 21.1% from 19.3% for the 4Q 2015.

4Q operating profit improved $21.5 million and operating profit before special items improved $15 million from the 4Q 2015. Operating profit margin before special items improved to 10% compared to 8.3 percent for the 4Q 2015.

Pete Watson, President and CEO, stated “I am pleased with Greif’s solid 4Q results, which conclude an improved fiscal 2016 for our company. We increased Class A earnings before special items per share by 11.9%, more than doubled free cash flow to $200.9 million and returned $98.7 million in dividends to our shareholders, despite the effects of a tepid global industrial economy. Our performance benefited from improved customer service, stronger operating fundamentals and systematic fiscal discipline. Our plans for 2017 include furthering our commitment to customer service, continuing to improve our underlying business and achieving our 2017 run rate commitments. This will generate greater value for our customers and shareholders."

Greif is a global leader in industrial packaging products and services.