Greystone Logistics Inc

greystonepallets.com

What Do They Do?

Manufactures and sells recycled-plastic pallets to customers in the beverage, pharmaceutical and other industries.

How Do They Make Money?

Greystone sells plastic pallets, with most sales completed when the pallets ship; in limited cases, completion follows customer approval.

FY2026 revenue

Who Are Their Customers?

Greystone sells to stocking and non-stocking distributors and directly to end-user customers, primarily in the beverage, pharmaceutical and other industries.

Customers above 10% of revenue, FY2026

of revenue from one customer

FY2025: 53% from one customer

Do Revenues Turn Into Profits?

No. It lost $8.2M in FY2026.

Operating income, FY2026

−28% of revenue

▼ Now a loss vs FY2025 ($4.3M, 7%)

Net income, FY2026

−30% of revenue

▼ Now a loss vs FY2025 ($2.4M, 4%)

Free cash flow, FY2026

−13% of revenue

▼ Now a loss vs FY2025 ($4.5M, 8%)

How Are They Changing?

Since the FY2026 annual report

Latest quarter: Q1 FY2026, the three months to Aug 31, 2026

Revenue: ▼ −50%; vs $10.7M in Q1 FY2025
Net income: ▲ +133% (Loss); vs −$1.1M in Q1 FY2025

Shrinking. Revenue fell 63% in 4 years, from $74.2M in FY2022 to $27.5M in FY2026, about 22% a year.

Comments