Greif, Inc. (NYSE:GEF) Q4 2022 Earnings Conference Call December 8, 2022 8:30 AM ET

Company Participants

Matt Leahy - VP of Corporate Development and IR

Ole Rosgaard - President and CEO

Larry Hilsheimer - CFO

Conference Call Participants

Ghansham Panjabi - RW. Baird

Adam Josephson - KeyBanc

George Staphos - Bank of America

Aadit Shrestha - Stifel

Operator

Good day, and thank you for standing by. Welcome to the Greif Fourth Quarter 2022 Conference Call. At this time, all participants are in a listen-only mode. After the speakers' presentation, there'll be a question-and-answer session. [Operator Instructions] Please be advised that today's conference is being recorded.

I would now like to hand the conference over to your speaker today, Matt Leahy, Vice President of Investor Relations and Corporate Development. Please go ahead, sir.

Matt Leahy

Thanks and good morning, everyone. Welcome to Greif's fourth quarter fiscal 2022 earnings conference call. This is Matt Leahy, Greif's Vice President of Corporate Development and Investor Relations and I'm joined by Ole Rosgaard, Greif's President and Chief Executive Officer; and Larry Hilsheimer, Greif's Chief Financial Officer.

We will take questions at the end of today's call. In accordance with Regulation Fair Disclosure, please ask questions regarding issues you consider important because we are prohibited from discussing material nonpublic information with you on an individual basis. Please limit yourself to one question and one follow-up before returning to the queue.

Please turn to Slide 2. As a reminder, during today's call, we will make forward-looking statements involving plans, expectations and beliefs related to future events. Actual results could differ materially from those discussed. Additionally, we will be referencing certain non-GAAP financial measures and reconciliation to the most directly comparable GAAP metrics can be found in the appendix of today's presentation.

And now, I turn the presentation over to Ole, on Slide 3.

Ole Rosgaard

Thank you, Matt, and good morning everyone.

I'm extremely proud of the results, our colleagues delivered in 2022, easily the most successful in financial terms in Greif's history. We believe these outstanding results are driven by the high engagement among our teams. Our focus on delivering legendary customer service and our consistent commitment to value over volume approach. This year has seen headwinds related to volatility in both raw materials and other input costs, complex macroeconomic issues including the war in Ukraine and varied regulatory responses to the ongoing COVID-19 pandemic.

Internally, it was also a year of change. A new executive leadership team created our Build to Last strategy, which we presented at our Investor Day in June. I believe that change opens doors for opportunity and our results this year are evidence of the global Greif team's ability to capture those opportunities. Therefore, before discussing our detailed fourth quarter results, I'd like to express my heartfelt appreciation for the resilience, dedication and consistency of performance from our whole Greif team.