Greif, Inc. GEF reported third-quarter fiscal 2021 (ended Jul 31, 2021) adjusted earnings per share of $1.93, which surpassed the Zacks Consensus Estimate of $1.60. The bottom line improved 127% year on year. Strong end-market demand drove the company’s bottom-line results despite material cost inflation and labor shortages.Including one-time items, earnings per share was $1.89 in the quarter compared with 35 cents in the prior-year quarter.Operational UpdateSales surged 38% year over year to $1,491 million. The top line beat the Zacks Consensus Estimate of $1,432 million.Cost of sales was up 36% year over year to $1,172 million. Gross profit amounted to $319 million, reflecting growth of 45.1% from the prior-year quarter. Gross margin came in at 21.3% compared with the year-ago quarter’s 20.2%.Selling, general and administrative (SG&A) expenses were up 18.4% year over year to $143 million. Operating profit soared 179.6% year over year to $173 million. Operating margin was 11.6% in the reported quarter compared with 5.7% in the year-earlier period. Adjusted EBITDA increased 49.2% year over year to $237.8 million in the fiscal third quarter.Greif, Inc. Price, Consensus and EPS Surprise Greif, Inc. price-consensus-eps-surprise-chart | Greif, Inc. QuoteSegmental PerformanceSales in the Global Industrial Packaging segment increased 47% year over year to $908 million. The segment’s adjusted EBITDA amounted to $146.2 million compared with the year-ago quarter’s $84.5 million.The Paper Packaging segment sales rose 26% year over year to $579 million in the fiscal third quarter. The segment’s adjusted EBITDA moved up to $89.9 million from the prior-year quarter’s $72 million.The Land Management segment’s sales totaled $4.2 million in the reported quarter compared with $5.9 million in the year-ago quarter. Adjusted EBITDA was $1.7 million, down from the year-earlier quarter’s $2.9 million.FinancialsGreif reported cash and cash equivalents of $99.8 million as of the fiscal third-quarter 2021-end, compared with $105.9 million as of the end of fiscal 2020. Cash flow from operating activities totaled $95 million in the quarter under review compared with $135 million in the prior-year quarter.Long-term debt amounted to $2,089.7 million as of Jun 31, 2021 compared with $2,335.5 million as of Oct 31, 2020.On Aug 31, Greif’s board announced a quarterly cash dividend of 46 cents per share of Class A Common Stock and 69 cents per share of Class B Common Stock. The dividend payout will be made on Oct 1, to shareholders of record at the close of business on Sep 17, 2021.OutlookGiven strong end-market demand, Greif now expects fiscal 2021 adjusted earnings per share between $5.10 and $5.30, up from prior guidance of $4.55 and $4.85. Adjusted free cash flow is anticipated between $335 million and $365 million, up from previous guidance of $285-$325 million.Price PerformanceSo far this year, Greif’s shares have appreciated 37.9%, outperforming the industry’s growth of 15.1%.Image Source: Zacks Investment ResearchZacks Rank & Key PicksGreif currently carries a Zacks Rank #3 (Hold).Some better-ranked stocks in the Industrial Products sector include Encore Wire Corporation WIRE, Terex Corporation TEX and Lincoln Electric Holdings, Inc. LECO While Encore Wire and Terex sport a Zacks Rank #1 (Strong Buy), Lincoln Electric carries a Zacks Rank #2 (Buy), at present. You can see the complete list of today’s Zacks #1 Rank stocks here.Encore Wire has a projected earnings growth rate of 332.6% for fiscal 2021. So far this year, the company’s shares have gained 45%.Terex has an estimated earnings growth rate of 2,207.6% for 2021. The company’s shares have gained 47.4% so far this year.Lincoln Electric has an expected earnings growth rate of 45.1% for 2021. The stock has appreciated 22%, year to date. More Stock News: This Is Bigger than the iPhone! It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 77 billion devices by 2025, creating a $1.3 trillion market. Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 4 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2022.Click here for the 4 trades >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Terex Corporation (TEX): Free Stock Analysis Report Lincoln Electric Holdings, Inc. (LECO): Free Stock Analysis Report Greif, Inc. (GEF): Free Stock Analysis Report Encore Wire Corporation (WIRE): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research