Financial

Greif Q1 earnings down from prior year

Greif, a packaging producer based in Delaware, Ohio, achieved net income of $23.4 million in the first quarter of its 2021 fiscal year, which is down compared with net income of $32.3 million in the first quarter of 2020. Net income excluding the impact of adjustments was $35.9 million, which is down from $37.9 million in the first quarter of 2020. Adjusted earnings before interest, taxes, depreciation and amortization decreased by $8.9 million to $138.5 million compared with the first quarter of 2020. For the full report, visit www.RecyclingToday.com/article/greif-q1-2021-earnings-down-prior-year.

Cascades performs strongly in 2020

Cascades Inc., Kingsey Falls, Quebec, reported sales of $5.16 billion for its 2020 fiscal year compared with nearly $5 billion in 2019. Operating income was at $366 million compared with $261 million in 2019, and operating income before depreciation and amortization was $665 million in 2020 compared with $550 million in 2019. The company had net earnings per share of $2.04 in 2020 compared with 77 cents in 2019. For Cascades’ full earnings report, visit www.RecyclingToday.com/article/cascades-earnings-2020-strong-containerboard-demand.

Republic sees ‘new level of performance’ in 2020

Republic Services Inc., Phoenix, reported net income for 2020 of $967.2 million, or $3.02 per diluted share, versus $1.07 billion, or $3.33 per diluted share, for 2019. On an adjusted basis, 2020 net income was $1.14 billion, or $3.56 per diluted share, versus $1.6 billion, or $3.30 per diluted share, for 2019.

Republic Services CEO Donald Slager says, “Republic again proved its strength, resolve and ability to persevere through a challenging environment. As a result, we outperformed our adjusted earnings and free cash flow targets and created sustainable value for our shareholders.”

Read more at www.RecyclingToday.com/article/republic-services-earnings-q4-2020.