How did GEF's Q2 2024 EPS outperform forecasts?

Greif's Q2 2024 EPS outperformed forecasts due to several key factors: 1. **Revenue Outperformance**: Greif's total revenue for Q2 2024 was $1.37 billion, which exceeded expectations. This increase of 4.6% year-over-year was driven by strong sales performance, particularly in the company's core industrial packaging products and services. 2. **Cost Management**: Despite the challenges posed by elevated raw material, transportation, and manufacturing costs, Greif managed to deliver a non-GAAP EPS of $0.82, which surpassed the Zacks Consensus Estimate of $0.77. This indicates effective cost management and operational efficiency measures implemented by the company. 3. **Market Conditions**: The industrial packaging sector is experiencing a recovery period, with sales increasing year-over-year. This favorable market conditions contributed to Greif's revenue outperformance and operational success. In summary, Greif's Q2 2024 EPS outperformance can be attributed to strong revenue growth, effective cost management, and favorable market conditions. These factors collectively enabled the company to surpass market expectations and deliver robust financial results.