Greystone Logistics, Inc. Reports Another Strong Quarter Demonstrating Robust Growth and Impressive Financial Results for the Six and Three Months Ended November 30, 2023 - Seite 2

Greystone Logistics is a green manufacturing company providing innovative logistics solutions, specializing in manufacturing 100% recycled plastic shipping pallets. With a commitment to excellence, the company's customer-centric approach and dedication to delivering exceptional value have made it a trusted partner for businesses across various industries including food and beverage, automotive, chemical, pharmaceutical and consumer products. The Company's technology, including a proprietary blend of recycled plastic resins used in the injection molding equipment and patented pallet designs, allows production of high-quality pallets at lower costs than many other processes. The recycled plastic in Greystone’s pallets helps control material costs while reducing environmental waste and provides cost advantages over producers who use virgin resin.

This press release includes certain statements that may be deemed "forward-looking statements" within the meaning of the federal securities laws. All statements, other than statements of historical facts that address activities, events, or developments that the Company expects, believes, or anticipates will or may occur in the future, including the potential sales of pallets or other possible business developments are forward-looking statements. Such statements are subject to a number of assumptions, risks and uncertainties, including the ability of the Company to continue as a going concern. Actual results may vary materially from the forward-looking statements. For a list of certain material risks relating to the Company and its products, see Greystone Logistics' Form 10-K for the fiscal year ended May 31, 2023.

Conference Call - Wednesday, January 17, 2024, at 2:00 PM ET, hosted by Warren Kruger, President, and CEO. Conference ID is Greystone. Dial-in information is Toll-Free Number, 800-579-2543, or Direct or International Number, 785-424-1789. A Q&A session will be available.

Non-GAAP Financial Measure

This press release contains disclosure of EBITDA, which is a non-GAAP financial measure within the meaning of Regulation G promulgated by the Securities and Exchange Commission. A reconciliation of net income to EBITDA, the most comparable GAAP financial measure, as well as additional information concerning EBITDA, are included at the end of this release.

Greystone Logistics, Inc. Reconciliation of Consolidated Net Income to EBITDA For the Six Months Ended November 30, 2023 and 2022
				2023			2022
		Net Income	$	2,709,045		$	1,186,494
		Income Taxes		1,217,000			256,000
		Depreciation and Amortization		2,844,103			2,722,174
		Interest Expense		672,361			507,762
		EBITDA (A)	$	7,442,509		$	4,672,430
	(A)	EBITDA represents income before income taxes plus interest, depreciation, and amortization. The EBITDA presented above, while considered the most common definition used by investors and financial analysts, may not be comparable to similarly titled measures reported by other companies. Greystone believes that EBITDA, while providing useful information, should not be considered in isolation or as an alternative to other financial measures determined under GAAP.

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