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Greif (GEF) investor relations material

Greif Q1 2026 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Logotype for Greif Inc
Q1 2026 earnings summary28 Jan, 2026

Executive summary

  • Entered 2026 with strong momentum, executing the Build to Last strategy, achieving solid financial results, and significant cost optimization and share repurchases.

  • Net income for Q1 2026 surged to $182.9 million, primarily due to a $216.2 million gain from the Soterra/timberlands divestiture.

  • Adjusted EBITDA increased 24% year-over-year to $122.5 million, with margin up 260 basis points to 12.3%.

  • The Containerboard Business was divested in August 2025 for $1.8 billion; results now reflect only continuing operations.

Financial highlights

  • Adjusted Class A EPS increased 140% to $0.48, driven by higher EBITDA and lower interest expense.

  • Gross profit was $202.6 million (20.4% margin), up from $199.4 million (19.6%) year-over-year.

  • Adjusted free cash flow was a use of $41.0 million, impacted by the absence of divestment contributions.

  • $130 million of $150 million share repurchase program completed in Q1; new $300 million authorization approved.

  • Leverage ratio improved to 1.2x from 3.6x year-over-year.

Outlook and guidance

  • 2026 guidance reaffirmed at the low end: Adjusted EBITDA of $630 million and Adjusted Free Cash Flow of $315 million.

  • No near-term demand inflection identified; industrial demand expected to remain muted.

  • Full-year volume expected to be net flat; Q1 volumes were softer but in line with expectations.

  • Tax rate for 2026 expected between 26.0% and 30.0% (excluding adjustments: 28.0%–32.0%).

How will new $300M repurchase plan be layered?
Can cost savings offset continued demand weakness?
Adjusted FCF comparability post-divestiture?
H2 volume recovery drivers?
$300M buyback vs. M&A pipeline balance?
Polymer margin mix issues: future impact?
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Frequently asked questions

Greif, Inc. engages in the production and sale of industrial packaging products and services worldwide. It operates through four segments: Rigid Industrial Packaging & Services; Paper Packaging & Services; Flexible Products & Services; and Land Management. The company offers steel, fiber, plastic, and corrugated containers, and containerboard, saturating kraft laminating base paper and specialty cover stock. Its products are used for transporting, storing, protecting and marketing raw materials, intermediate components and finished goods from origin to consumption.

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