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Greif Reports Fiscal First Quarter 2026 Results

GEF
  • Greif Inc. reported fiscal first quarter 2026 net income of $176.6 million ($3.00 per diluted Class A share), an increase from $6.6 million ($0.13 per share) in the prior year quarter.
  • Net income excluding adjustments rose 146.3% to $26.6 million ($0.48 per share) driven by cost optimization & SG&A reductions.
  • Adjusted EBITDA increased 24.0% to $122.5 million compared to $98.8 million in the prior year quarter.
  • Net cash used in operating activities was $24.4 million, while adjusted free cash flow use decreased to $41.0 million.
  • Total debt decreased by $1,896.2 million to $944.0 million following the repayment of debt from the divestiture of the Containerboard Business & timberlands.
  • Net debt fell to $700.5 million, reducing the leverage ratio to 1.2x from 3.6x in the prior year quarter.
  • Greif divested its Containerboard Business to Packaging Corporation of America for $1.8 billion in an all-cash transaction that closed on August 31, 2025.
  • The Integrated Solutions segment was renamed Innovative Closure Solutions effective October 1, 2025, with other activities reallocated to Sustainable Fiber Solutions & Durable Metal Solutions segments.
  • Run-rate cost optimization reached $65.0 million by the end of the quarter, progressing toward the $120.0 million commitment.
  • Approximately $130.0 million in share repurchases were completed during the quarter, & Board authorization was obtained for an additional $300.0 million plan.
  • Fiscal 2026 guidance was reaffirmed at the low-end with Adjusted EBITDA of $630.0 million & Adjusted Free Cash Flow of $315.0 million.
  • Customized Polymer Solutions net sales rose 3.6% to $305.1 million, while Durable Metal Solutions net sales fell 0.3% to $354.8 million.
  • Sustainable Fiber Solutions net sales declined 6.5% to $311.9 million, though operating profit surged to $218.5 million due to a $216.2 million gain from timberland sales.
  • Innovative Closure Solutions net sales increased 2.6% to $23.0 million.
  • The company expects a fiscal 2026 income tax rate between 26.0% & 30.0%, with a rate excluding adjustments between 28.0% & 32.0%.
  • A conference call to discuss results is scheduled for January 28, 2026, at 8:30 a.m. Eastern Time.