TULSA, Okla., Sept. 13, 2024 (GLOBE NEWSWIRE) — Greystone Logistics, (Greystone Logistics or the Firm) (OTCQB:GLGI) the main producer of recycled plastic pallets offering sustainable logistics options, is happy to announce its year-end earnings for the fiscal yr ending Might 31, 2024. The corporate has achieved a powerful web revenue of $5,027,491, with EBITDA of $13,086,091 on gross sales of $61,780,715. The $.16 per share earnings highlights its resilience and dedication to innovation in a difficult financial local weather.
Regardless of ongoing recessionary pressures and a notable hesitancy amongst patrons to problem buy orders, Greystone has continued to excel out there for its world-class recycled plastic delivery pallets. The corporate’s concentrate on sustainability and high quality has allowed it to keep up a aggressive edge, assembly the rising demand for eco-friendly delivery options.
Warren Kruger, President of Greystone Logistics, expressed his delight within the firm’s efficiency. We have had an amazing yr, demonstrating our means to adapt and thrive even within the face of financial uncertainty. Our new 48×40 warehouse pallet is already producing gross sales at a tempo of $5 million per yr in income and with over $50 million in our gross sales pipeline, I anticipate a sturdy 2025. Money readily available at yr finish was $5,798,641 insuring a degree of security and enough funds for our beforehand introduced share buyback. We now have now acquired the brand new tooling for our extruded hole lumber pallet with product launch within the subsequent 90 days and introduction at Pack Expo in Chicago in November. Our modern strategy to recycling plastic into sturdy delivery pallets not solely helps our shoppers’ logistics wants but additionally helps cut back environmental impression. We’re dedicated to offering sustainable options that profit each our clients and the planet.
Greystone Logistics stays devoted to increasing its operations and enhancing its product choices because it appears forward to the approaching yr. The corporate’s strategic initiatives will concentrate on rising manufacturing on new gear with present clients and shutting gross sales within the pipeline.
As Greystone continues to paved the way within the logistics business, it stays steadfast in its mission to ship high-quality, sustainable merchandise whereas navigating the complexities of the present financial panorama.
For extra details about Greystone Logistics and its modern merchandise, please go to www.greystonepallets.com
About Greystone Logistics
Greystone Logistics is a inexperienced manufacturing firm that reprocesses recycled plastic and designs, manufactures and sells high-quality 100% recycled plastic pallets that present logistical options for a variety of industries such because the meals and beverage, automotive, chemical, pharmaceutical and shopper merchandise. The Firm’s expertise, together with a proprietary mix of recycled plastic resins used within the injection molding gear and patented pallet designs, permits manufacturing of high-quality pallets extra quickly and at a decrease price than many different processes. The recycled plastic for Greystone’s pallets helps management materials prices whereas decreasing environmental waste and offers price benefits over customers of virgin resin.
Ahead-Trying Statements
This press launch accommodates forward-looking statements. All statements apart from statements of historic information included on this press launch are forward-looking statements. In some circumstances, forward-looking statements might be recognized by phrases equivalent to imagine, anticipate, anticipate, plan, potential, proceed or related expressions. Such forward-looking statements embrace dangers and uncertainties, and there are necessary components that might trigger precise outcomes to vary materially from these expressed or implied by such forward-looking statements. These components, dangers and uncertainties are mentioned within the Firm’s filings with the Securities and Trade Fee. Traders mustn’t place any undue reliance on forward-looking statements since they contain identified and unknown, uncertainties and different components that are, in some circumstances, past the Firm’s management which might, and certain will, materially have an effect on precise outcomes, ranges of exercise, efficiency or achievements. Any forward-looking assertion displays the Firm’s present views with respect to future occasions and is topic to those and different dangers, uncertainties and assumptions regarding operations, outcomes of operations, progress technique and liquidity. The Firm assumes no obligation to publicly replace or revise these forward-looking statements for any purpose, or to replace the explanations precise outcomes might differ materially from these anticipated in these forward-looking statements, even when new info turns into out there sooner or later.
Convention Name-Monday, September 16, 2024, at 1:30 PM ET, hosted by Warren Kruger, President and CEO. Convention ID is Greystone. Participant Dial-in info is Toll-Free Quantity, 888-999-6281, or Direct or Worldwide Quantity, +1-848-280-6550. A Q&A session will likely be out there.
Non-GAAP Monetary Measure
This press launch accommodates disclosure of EBITDA, which is a non-GAAP monetary measure inside the that means of Regulation G promulgated by the Securities and Trade Fee.
Contact
Brendan Hopkins
Investor Relations
E-mail: investorrelations@greystonelogistics.com
Cellphone : (407) 645-5295
https://www.greystonepallets.com
Supply: Greystone Logistics Inc.
