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Greif Reports Fiscal Second Quarter 2026 Results

GEF
  • Greif, Inc. reported fiscal second quarter 2026 net income of $12.6 million, a 32.3% decrease compared to $18.6 million in the prior year quarter, while net income excluding adjustments rose 57.5% to $62.7 million.
  • Adjusted EBITDA increased 7.5% to $156.8 million, driven by margin expansion & disciplined operations, resulting in strong adjusted free cash flow of $179.3 million.
  • The company completed the divestiture of its Containerboard Business to Packaging Corporation of America for $1.8 billion in an all-cash transaction, with the deal closing on August 31, 2025.
  • Total debt decreased by $1.77 billion to $1,005.9 million due to debt repayments from the Containerboard & timberlands business sales, reducing the leverage ratio to 1.1x from 3.3x.
  • Strategic actions included achieving $75.0 million in run-rate cost optimization, completing a $150.0 million share repurchase program, & refinancing long-term debt through 2031 at a weighted-average interest rate of 3.14%.
  • Segment performance varied: Customized Polymer Solutions & Durable Metal Solutions saw net sales increases, while Sustainable Fiber Solutions sales declined 10.0% due to lower volumes & divestiture impacts.
  • Innovative Closure Solutions, formerly Integrated Solutions, reported a 15.5% total impact on net sales primarily from higher selling prices & positive currency translation.
  • CEO Ole Rosgaard noted a resilient quarter despite subdued industrial demand, geopolitical uncertainty, & no identified demand inflection, leading to a more conservative outlook.
  • The company reduced its low-end annual Adjusted EBITDA guidance for fiscal 2026 to $610 million & adjusted free cash flow guidance to $315 million.
  • A quarterly cash dividend of $0.56 per Class A share & $0.84 per Class B share was declared on February 23, 2026, & paid by April 1, 2026.
  • Greif issued its 17th Annual Sustainability Report highlighting 2025 milestones & progress toward 2030 sustainability goals.
  • The conference call to discuss these results is scheduled for April 29, 2026, at 8:30 a.m. Eastern Time.