Greystone Logistics Reports Strong Year-End Earnings

TULSA, Okla., Sept. 13, 2024 (GLOBE NEWSWIRE) -- Greystone Logistics, (“Greystone Logistics” or the “Company”) (OTCQB:GLGI) the leading manufacturer of recycled plastic pallets providing sustainable logistics solutions, is pleased to announce its year-end earnings for the fiscal year ending May 31, 2024. The company has achieved an impressive net income of $5,027,491, with EBITDA of $13,086,091 on sales of $61,780,715. The $.16 per share earnings highlights its resilience and commitment to innovation in a challenging economic climate.

Despite ongoing recessionary pressures and a notable hesitancy among buyers to issue purchase orders, Greystone has continued to excel in the market for its world-class recycled plastic shipping pallets. The company’s focus on sustainability and quality has allowed it to maintain a competitive edge, meeting the growing demand for eco-friendly shipping solutions.

Warren Kruger, President of Greystone Logistics, expressed his pride in the company’s performance. “We’ve had a tremendous year, demonstrating our ability to adapt and thrive even in the face of economic uncertainty. Our new 48x40 warehouse pallet is already generating sales at a pace of $5 million per year in revenue and with over $50 million in our sales pipeline, I anticipate a robust 2025. Cash on hand at year end was $5,798,641 insuring a level of safety and sufficient funds for our previously announced share buyback. We have now received the new tooling for our extruded hollow lumber pallet with product launch in the next 90 days and introduction at Pack Expo in Chicago in November. Our innovative approach to recycling plastic into durable shipping pallets not only supports our clients’ logistics needs but also helps reduce environmental impact. We are committed to providing sustainable solutions that benefit both our customers and the planet.”

Greystone Logistics remains dedicated to expanding its operations and enhancing its product offerings as it looks ahead to the coming year. The company’s strategic initiatives will focus on increasing production on new equipment with existing customers and closing sales in the pipeline.

As Greystone continues to lead the way in the logistics industry, it remains steadfast in its mission to deliver high-quality, sustainable products while navigating the complexities of the current economic landscape.

For more information about Greystone Logistics and its innovative products, please visit www.greystonepallets.com