1733 ET - Greif shouldn't be materially affected by proposed or enacted tariffs, CEO Ole Rosgaard says. That's because the industrial-packaging company sources, produces and sells as many products as it can locally: "Otherwise, we're shipping a lot of air," he says of transporting empty 55-gallon drums long distances. The company could actually stand to benefit from higher steel prices, at least for a little bit, Rosgaard said. The company buys most of its steel three-to-six months in advance, meaning it could enjoy a few months of selling its drums at a higher margin before increased input costs catch up, he says. Shares fall 4.2% after a downbeat 1Q earnings report. (connor.hart@wsj.com)
(END) Dow Jones Newswires
February 26, 2025 17:33 ET (22:33 GMT)
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