Greif Bros Corporation (GEF)
Pretax margin
| Jan 31, 2024 | Oct 31, 2023 | Jul 31, 2023 | Apr 30, 2023 | Jan 31, 2023 | Oct 31, 2022 | Jul 31, 2022 | Apr 30, 2022 | Jan 31, 2022 | Oct 31, 2021 | Jul 31, 2021 | Apr 30, 2021 | Jan 31, 2021 | Oct 31, 2020 | Jul 31, 2020 | Apr 30, 2020 | Jan 31, 2020 | Oct 31, 2019 | Jul 31, 2019 | Apr 30, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings before tax but after interest (EBT) (ttm) | US$ in thousands | 378,400 | 477,000 | 530,500 | 590,800 | 595,500 | 513,800 | 500,200 | 464,600 | 476,700 | 460,300 | 405,600 | 287,100 | 157,900 | 172,100 | 186,600 | 248,500 | 235,700 | 241,700 | 246,500 | 250,400 |
| Revenue (ttm) | US$ in thousands | 5,149,200 | 5,273,800 | 5,465,400 | 5,766,100 | 6,085,200 | 6,322,000 | 6,413,400 | 6,278,700 | 5,977,000 | 5,559,600 | 5,156,700 | 4,746,200 | 4,565,300 | 4,532,800 | 4,593,500 | 4,764,000 | 4,800,700 | 4,585,700 | 4,334,200 | 4,093,900 |
| Pretax margin | 7.35% | 9.04% | 9.71% | 10.25% | 9.79% | 8.13% | 7.80% | 7.40% | 7.98% | 8.28% | 7.87% | 6.05% | 3.46% | 3.80% | 4.06% | 5.22% | 4.91% | 5.27% | 5.69% | 6.12% |
January 31, 2024 calculation
Pretax margin = EBT (ttm) ÷ Revenue (ttm)
= $378,400K ÷ $5,149,200K
= 7.35%
The pretax margin of Greif Inc has shown a fluctuating trend over the past eight quarters. In Q1 2024, the pretax margin was 7.80%, which decreased from the previous quarter's level of 9.52% in Q4 2023. This decline indicates a reduction in profitability before taxes in the most recent quarter.
The highest pretax margin in the given period was recorded in Q2 2023 at 10.64%, reflecting a peak in profitability during that quarter. Subsequently, there was a slight decrease in Q3 2023 to 10.14% before a further decline in Q4 2023.
The pretax margins for Q1 and Q2 of 2023 were relatively stable around the 10% mark, indicating consistent profitability levels during that period. However, compared to the same quarters in 2022, where the pretax margin was 8.36% in Q1 and 8.08% in Q2, there is an overall improvement in profitability in these periods.
Overall, the trend in Greif Inc's pretax margin suggests some variability in profitability levels over the past two years, with some quarters performing better than others. It would be important for the company to further analyze the factors contributing to these fluctuations to maintain and enhance its financial performance in the future.