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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.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%).
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