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Greif (GEF) investor relations material

Greif Q4 2025 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Logotype for Greif Inc
Q4 2025 earnings summary6 Nov, 2025

Executive summary

  • Fiscal Q4 2025 was a two-month period due to a fiscal year-end change, reflecting significant portfolio transformation with the divestment of the containerboard business for $1.8B and land/timber management for $462M, generating $2.3B in gross proceeds.

  • The company is now more focused, agile, and strategically aligned, with a strengthened balance sheet and a pro forma leverage ratio below 1.0x after divestitures.

  • Cost optimization efforts accelerated, achieving $50 million in run-rate savings in 2025 and raising the cumulative commitment to $120 million by 2027.

  • Customer service remains strong, with a Net Promoter Score of 72, up 3 points year-over-year and considered world-class in manufacturing.

  • Focus remains on cost optimization, portfolio sharpening, and building a leaner, more agile organization.

Financial highlights

  • Adjusted EBITDA for Q4 was $98.9 million, up 7.4% year-over-year for the two-month period, with margin up 140 basis points to 14.1%.

  • Adjusted free cash flow improved by 24.3% year-over-year to $122.6 million, supported by EBITDA growth and working capital management.

  • Adjusted EPS for the quarter was $0.01, down from $0.59 in the prior year quarter, impacted by non-recurring tax items and the short reporting period.

  • Q4 net income (loss) from continuing operations was $(43.3) million; adjusted net income was $0.6 million.

  • Q4'25 SG&A included $28 million in divestment-related costs, excluded from Adjusted EBITDA.

Outlook and guidance

  • Fiscal 2026 low-end guidance: Adjusted EBITDA of $630 million and adjusted free cash flow of $315 million, with volume assumptions of low-single digit growth in polymers and closures, and flat to low-single digit declines in metals and fiber.

  • Free cash flow conversion targeted at 50%, with CapEx projected at $155 million and $40 million allocated to restructuring and pension costs.

  • Pro forma leverage is expected to remain below 1.5x by year-end 2026.

  • $150 million share repurchase plan planned for 2026.

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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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