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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.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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