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 ...
