GlobeNewswire·Jul 28, 2026, 4:01 PM ET

Greif Reports Fiscal Third Quarter 2026 Results

GEF GEF.B GEF-B

Greif, Inc. reported fiscal third quarter 2026 net income of $78.8 million ($1.37 per diluted Class A share), a 156.7% increase compared to $30.7 million in the prior year quarter.
Net income excluding adjustments rose 87.0% to $93.3 million ($1.61 per share) from $49.9 million in the prior year quarter.
Adjusted EBITDA increased 24.7% to $183.4 million from $147.1 million in the comparable prior period.
Net cash provided by operating activities decreased to $77.8 million from $147.1 million, while adjusted free cash flow fell to $57.7 million from $144.4 million.
Total debt decreased by $1,686.6 million to $1,030.4 million due to repayments from the sale of the Containerboard Business, reducing the leverage ratio to 1.1x from 3.1x.
The Containerboard Business was divested to Packaging Corporation of America for $1.8 billion in August 2025, with results reported as discontinued operations since Q3 2025.
The quarterly dividend was increased by 10.7% to $0.62 per Class A share, reflecting strong free cash flow generation.
Greif announced intentions to begin share repurchases under existing authorizations as part of its capital allocation strategy.
Cost optimization efforts achieved $90 million in cumulative run-rate savings, with a reaffirmed target of at least $120 million by the end of fiscal year 2027.
The company completed the acquisition of Envaplast on June 2, 2026, a bolt-on deal serving agrochemical markets with high margins.
Segment net sales for Customized Polymer Solutions rose to $383.8 million, while Sustainable Fiber Solutions sales declined to $346.5 million.
Greif provided fiscal 2026 guidance for Adjusted EBITDA between $615 million and $635 million, and Adjusted free cash flow between $305 million and $325 million.
A conference call to discuss these results is scheduled for July 29, 2026, at 8:00 a.m. Eastern Time.