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Greif (GEF) investor relations material
Greif Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Executive summary
Announced divestitures of containerboard ($1.8B) and timberland/land management businesses ($462M), sharpening focus on high-growth, high-margin markets and cost optimization.
Achieved $20M in run-rate cost savings toward a $15M–$25M target, with further network optimization including facility closures.
Q3 2025 net sales declined 2.6% to $1.13B, but gross margin improved to 22.7% and adjusted EBITDA rose to $160.7M, reflecting resilience in polymers and integrated solutions.
Leadership transition and increased quarterly dividends for both Class A and B shares were announced.
Portfolio shift targets higher-growth, less cyclical businesses with a long-term 18%+ adjusted EBITDA margin.
Financial highlights
Adjusted EBITDA increased to $160.7M (14.2% margin), with gross profit up to $257.3M (22.7% margin); adjusted free cash flow surged to $170.7M.
Net income from continuing operations fell due to a prior-year divestiture gain, but adjusted net income rose to $60.4M.
SG&A expenses increased to $157.0M, mainly from higher compensation.
Polymers segment saw sales and gross profit growth; metals and fiber segments had sales declines but margin improvements.
Free cash flow conversion exceeded 40%, with leverage ratio expected to fall below 1.2x post-divestitures.
Outlook and guidance
Fiscal 2025 combined adjusted EBITDA guidance is $725–$735M, with adjusted free cash flow guidance at $305–$315M, both raised from prior estimates.
Guidance includes containerboard contributions through August and September, pending divestment closure.
Demand recovery is expected to provide significant operating leverage as volumes return; stable input prices anticipated for the remainder of 2025.
Expected tax rate for fiscal 2025: 27.0–32.0%.
Proceeds from divestitures to be used for debt repayment, with no material liquidity impact from loss of containerboard cash flows.
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