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Greif, Inc. Reports Fiscal First Quarter 2026 Financial Results

PAPER INDUSTRY NEWS

Jino John

1/28/20261 min read

DELAWARE, Ohio — January 27, 2026

Greif, Inc. (NYSE: GEF, GEF.B), a global leader in industrial packaging products and services, today announced financial results for the first quarter of fiscal 2026, highlighting improved profitability, strong cost management, significant leverage reduction, and continued focus on shareholder returns.

First Quarter 2026 Financial Highlights

  • Net income of $176.6 million, or $3.00 per diluted Class A share, compared with $6.6 million or $0.13 per diluted Class A share in the prior year period.

  • Net income excluding the impact of adjustments increased to $26.6 million, or $0.48 per diluted Class A share, compared with $10.8 million, or $0.20 per diluted Class A share**, in the year-ago quarter.

  • Adjusted EBITDA rose 24.0% to $122.5 million, compared with $98.8 million in the prior period.

  • Total debt decreased to $944.0 million, down by approximately $1.9 billion, reflecting the impact of the divestiture of the containerboard business and timberlands sale.

  • Net cash provided by operating activities was a use of $24.4 million, with adjusted free cash flow a use of $41.0 million.

Strategic Actions & Shareholder Return

  • Completed approximately $130 million of share repurchases under the existing share repurchase plan.

  • Board authorized an additional $300 million share repurchase capacity beyond the current program.

Operational and Strategic Notes

  • The company reported the Containerboard Business sold to Packaging Corporation of America as discontinued operations following the August 2025 transaction.

  • Continued execution of cost optimization initiatives contributed approximately $65.0 million of run-rate cost savings toward a total targeted $120.0 million commitment.

Guidance

Greif reaffirmed its low-end fiscal 2026 guidance of:

  • Adjusted EBITDA: $630 million

  • Adjusted Free Cash Flow: $315 million

Management Commentary

“Greif entered fiscal 2026 with strong momentum,” said Ole Rosgaard, President and CEO. “We delivered a significant increase in both profitability and operational cash flow efficiency, while substantially reducing leverage and returning value to shareholders.”

Conference Call

A conference call to discuss first quarter results was scheduled for January 28, 2026, at 8:30 a.m. ET, with replay available after the webcast on the company’s investor website.