Greif, Inc. (NYSE:GEF) Q4 2023 Earnings Call Transcript

Gabe Hajde: Okay. And I guess to revisit the bridge question, I apologize in advance, but you, Larry, laid out, I think, a lot of the negative factors to get to the $585 million, but weren’t necessarily giving yourselves credit for any of the positives that would be included, even taking into account sort of what you’re assuming in the guidance and what you’re experiencing today, at least on the containerboard side. And what I mean by that is it sounds like the system is full at this point, which would imply no economic downtime in the containerboard mill system. So, Matt threw out plus $20 million for acquisitions. I don’t know if I have the exact number correct. I want to say there was about 120,000 tons of economic downtime in your seaboard system. Assuming some of that comes back, those are all the additive, sort of just based on what your assumptions are today. Is that the right way to think about it?

Ole Rosgaard: Partially. I mean, we have built in some relatively minor growth in from containerboard in the year, but it’s like $60 million. Now we also are closing down our Santa Clara mill, so that would take a little bit out. But yeah, you’re right. We’re being relatively conservative in that low end guidance. I mean, it’s low end because it’s low end.

Gabe Hajde: Okay. Santa Clara, remind me is that CRB?

Ole Rosgaard: Yes.

Matt Leahy: No, it’s containerboard.

Larry Hilsheimer: CRB?

Ole Rosgaard: No, it’s containerboard.

Gabe Hajde: Is there a tonnage on that?

Ole Rosgaard: Oh, boy, we have that somewhere. We’ll get that, Gabe.

Gabe Hajde: Okay. All right. That’ll be it. Thank you.

Operator: And I’m showing no further questions. I would now like to hand the call back to Matt Leahy for closing remarks.

Matt Leahy: All right. Well, thank you everyone again for your patience today and our challenges at the beginning of the call. We hope you all have a wonderful holiday.

Operator: This concludes today’s conference. Thank you for participating. You may now disconnect.