GEF

EX-99.1

2 gef2026q38-kerex991.htm

EX-99.1

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Exhibit 99.1

Greif Reports Fiscal Third Quarter 2026 Results

DELAWARE, Ohio (July 28, 2026) – Greif, Inc. (NYSE: GEF, GEF.B), a global leader in industrial packaging products and services, today announced fiscal third quarter 2026 results.

On June 30, 2025, we entered into a definitive agreement to divest our Containerboard Business, including our CorrChoice sheet feeder system. Beginning in the third quarter of fiscal 2025, the Containerboard Business has been reported as discontinued operations. Unless otherwise noted, all financial results and discussions in this press release relate to continuing operations. Additional information regarding the basis of presentation and changes in reportable segments is provided under "Basis of Presentation and Comparability".

Fiscal Third Quarter 2026 Financial Highlights:

(all current period results are compared to the third quarter of 2025 and both periods reflect only continuing operations unless otherwise noted)

•Net income increased 156.7% to $78.8 million or $1.37 per diluted Class A share compared to net income of $30.7 million or $0.53 per diluted Class A share.

•Net income, excluding the impact of adjustments(1), increased 87.0% to $93.3 million or $1.61 per diluted Class A share compared to net income, excluding the impact of adjustments, of $49.9 million or $0.86 per diluted Class A share.

•Adjusted EBITDA(2) increased 24.7% to $183.4 million compared to Adjusted EBITDA of $147.1 million.

•Net cash provided by operating activities decreased by $69.3 million to a source of $77.8 million. Adjusted free cash flow(3) decreased by $86.7 million to a source of $57.7 million. Adjusted free cash flow in the prior year includes contribution from the Containerboard Business and is not directly comparable to current year results.

•Total debt of $1,030.4 million decreased by $1,686.6 million primarily due to repayment of debt from the sales of the Containerboard Business and the timberlands business. Net debt(4) decreased by $1,689.9 million to $741.9 million. Our leverage ratio(5) decreased to 1.1x from 3.1x.

Strategic Actions and Announcements

•Increased quarterly dividend by 10.7%, reflecting the continued strength of our free cash flow generation, the significant progress we have made in strengthening our balance sheet, and our confidence in Greif’s long-term earnings power.

•Announcing intention to begin executing on share repurchases under new share repurchase plan approved as part of our existing share repurchase authorizations consistent with our disciplined capital allocation strategy.

•Achieved $90 million cumulative run-rate savings on cost optimization program – achieving the high-end of our commitment range for the fiscal year, and reaffirmed our expectation to achieve at least $120 million of cumulative run-rate savings by the end of fiscal year 2027.

•Completed growth-enabling strategic, bolt-on acquisition of Envaplast on June 2, 2026. The acquisition serves predominantly the Agrochemical end markets and has EBITDA margins and Free Cash Flow conversion well above Greif’s M&A criteria.

Commentary from CEO Ole Rosgaard

“Our third quarter results demonstrate that Greif continues to become a stronger company despite a challenging industrial environment. Industrial demand remains subdued, geopolitical uncertainty continues to create volatility, and we have yet to see compelling evidence of a broad recovery. Our agenda, however, has not changed. We are not waiting for the cycle to improve. We are improving Greif everywhere.

Our performance reflects disciplined execution, operational excellence, and thoughtful capital allocation. During the quarter, we expanded margins, strengthened our balance sheet, increased our dividend, continued optimizing our cost structure, and completed another attractive bolt-on acquisition. These results were earned through disciplined execution and the commitment of our colleagues around the world.

Our strategy is straightforward. We are building a higher-quality company by continuously improving our operations, investing with discipline, and allocating capital where it creates the greatest long-term value. Every decision we make is intended to increase our earnings power, strengthen our competitive position, and enhance our ability to create value through every stage of the industrial cycle.

We cannot predict when the cycle will turn. We can decide how prepared Greif will be when it does. Every quarter, we are becoming a more resilient, more efficient, and more valuable company. We believe that positions Greif to deliver superior long-term returns for our shareholders.”

(1)    Adjustments that are excluded from net income and from earnings per diluted Class A share are acquisition and integration related costs, restructuring and other charges, non-cash asset impairment charges, non-cash pension settlement charges, (gain) loss on disposal of properties, plants

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Exhibit 99.1

Greif Reports Fiscal Second Quarter 2026 Results

DELAWARE, Ohio (April 28, 2026) – Greif, Inc. (NYSE: GEF, GEF.B), a global leader in industrial packaging products and services, today announced fiscal second quarter 2026 results.

On June 30, 2025, we entered into a definitive agreement to divest our containerboard business, including our CorrChoice sheet feeder system (the “Containerboard Business”), in an all-cash transaction for $1.8 billion to Packaging Corporation of America. The transaction closed as of August 31, 2025. As a result, the Containerboard Business was presented as discontinued operations beginning in the third quarter of 2025. Unless otherwise noted, the discussions and disclosure tables throughout this press release relate only to our continuing operations.

Effective October 1, 2025, our Integrated Solutions reportable segment was renamed Innovative Closure Solutions. Additionally, activities related to the purchase and sale of recycled fiber and the production and sale of adhesives used in paperboard products, which were previously reported within the Integrated Solutions reportable segment, are now reported within the Sustainable Fiber Solutions reportable segment. Likewise, activities related to production and sale of complimentary packaging products and services such as paints, linings and filling, that are used in or relate to our steel products and were previously reported within the Integrated Solutions reportable segment, are now reported within the Durable Metal Solutions reportable segment.

Fiscal Second Quarter 2026 Financial Highlights:

(all current period results are compared to the second quarter of 2025 and both periods reflect only continuing operations unless otherwise noted)

•Net income(1) decreased 32.3% to $12.6 million or $0.22 per diluted Class A share compared to net income of $18.6 million or $0.32 per diluted Class A share.

•Net income, excluding the impact of adjustments(2), increased 57.5% to $62.7 million or $1.10 per diluted Class A share compared to net income, excluding the impact of adjustments, of $39.8 million or $0.68 per diluted Class A share.

•Adjusted EBITDA(3) increased 7.5% to $156.8 million compared to Adjusted EBITDA of $145.9 million.

•Net cash provided by operating activities decreased by $5.8 million to a source of $116.6 million. Adjusted free cash flow(4) increased by $92.7 million to a source of $179.3 million. Adjusted free cash flow in the prior year includes contribution from the Containerboard Business and thus is not directly comparable to current year results.

•Total debt of $1,005.9 million decreased by $1,769.3 million primarily due to repayment of debt of approximately $1,864.0 million from the sales of the Containerboard Business and the timberlands business. Net debt(5) decreased by $1,802.7 million to $719.8 million. Our leverage ratio(6) decreased to 1.1x from 3.3x.

Strategic Actions and Announcements

•Achieved $75.0 million of run-rate cost optimization by the end of second quarter of fiscal 2026, which increased from the $65.0 million reported as of the end of the first quarter of fiscal 2026.

•Completed previously announced $150.0 million share repurchase program on April 15, 2026, repurchasing a final total of 1.8 million shares of Class A and 0.4 million shares of Class B.

•Refinanced long-term debt to 2031 through $500.0 million of Term Loans and $800.0 million of available capacity on a revolving line of credit. Debt secured at favorable rates given market volatility, with a quarter-to-date weighted-average interest rate of 3.14%.

•Completed 2026 Gallup Colleague Engagement Survey with over 98% participation and an aggregate score of 91st percentile which is world-class across manufacturing companies.

•Issued 17th Annual Sustainability Report available for review at https://www.greif.com/sustainability/. We encourage investors to review this report, which includes key milestones achieved in 2025 as well as an update on our progress towards our 2030 sustainability goals.

Commentary from CEO Ole Rosgaard

“Greif delivered a resilient second quarter in a continued soft industrial environment. Demand remains subdued, and our results reflect the reality of the markets we serve. That said, we executed well on the factors within our control.

Adjusted EBITDA increased 7.5% with margin expansion, and we generated strong adjusted free cash flow of $179 million reflecting disciplined operations and a structurally stronger cash generation profile.

We have also significantly strengthened our financial position. At 1.1x leverage, our balance sheet provides flexibility to invest in the business, return capital to shareholders, and navigate ongoing uncertainty from a position of strength.

Our strategy remains consistent. We are building for organic growth through operational execution, commercial discipline, and continuous improvement, while complemen

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Exhibit 99.1

Greif Reports Fiscal First Quarter 2026 Results

DELAWARE, Ohio (January 27, 2026) – Greif, Inc. (NYSE: GEF, GEF.B), a global leader in industrial packaging products and services, today announced fiscal first quarter 2026 results.

On June 30, 2025, we entered into a definitive agreement to divest our containerboard business, including our CorrChoice sheet feeder system (the “Containerboard Business”), in an all-cash transaction for $1.8 billion to Packaging Corporation of America. The transaction closed as of August 31, 2025. As a result, the Containerboard Business was presented as discontinued operations beginning in the third quarter of 2025. Unless otherwise noted, the discussions and disclosure tables throughout this press release relate only to our continuing operations.

Effective October 1, 2025, our Integrated Solutions reportable segment was renamed Innovative Closure Solutions. Additionally, activities related to the purchase and sale of recycled fiber and the production and sale of adhesives used in paperboard products, which were previously reported within the Integrated Solutions reportable segment, are now reported within the Sustainable Fiber Solutions reportable segment. Likewise, activities related to production and sale of complimentary packaging products and services such as paints, linings and filling that are used in or relate to our steel products and were previously reported within the Integrated Solutions reportable segment, are now reported within the Durable Metal Solutions reportable segment.

Fiscal First Quarter 2026 Financial Highlights:

(all current period results are compared to the first quarter of 2025 and both periods reflect only continuing operations unless otherwise noted)

•Net income increased to $176.6 million or $3.00 per diluted Class A share compared to net income of $6.6 million or $0.13 per diluted Class A share.

•Net income, excluding the impact of adjustments(1), increased 146.3% to $26.6 million or $0.48 per diluted Class A share compared to net income, excluding the impact of adjustments, of $10.8 million or $0.20 per diluted Class A share. This increase is largely attributed to our substantial cost optimization progress in manufacturing cost management and SG&A cost reductions, ending the quarter with $65.0 million of run-rate cost optimization towards out total commitment of $120.0 million.

•Adjusted EBITDA(2) increased 24.0% to $122.5 million compared to Adjusted EBITDA of $98.8 million.

•Net cash provided by operating activities decreased by $41.0 million to a use of $24.4 million. Adjusted free cash flow(3) decreased by $17.7 million to a use of $41.0 million. Adjusted free cash flow in the prior year includes contribution from the Containerboard Business and thus is not directly comparable to current year results.

•Total debt of $944.0 million decreased by $1,896.2 million primarily due to repayment of debt of approximately $1,864.0 million from the sales of the Containerboard Business and the timberlands business. Net debt(4) decreased by $1,938.6 million to $700.5 million. Our leverage ratio(5) decreased to 1.2x from 3.6x in the prior year quarter.

Strategic Actions and Announcements

•Achieved $65.0 million of run-rate cost optimization by the end of first quarter of fiscal 2026, increased from the $50.0 million reported as of the end of the fourth quarter of fiscal 2025. The incremental $15.0 million is primarily due to SG&A savings related to actions taken early in fiscal 2026, which are already incorporated in our fiscal 2026 guidance.

•During first quarter of fiscal 2026, completed approximately $130.0 million of share repurchases under our existing $150.0 million share repurchase plan, repurchasing approximately 1.8 million shares of Class A and 0.1 million shares of Class B.

•During first quarter of fiscal 2026, obtained Board of Directors authorization for an additional $300.0 million of future share repurchases, which we intend to utilize in a disciplined, ongoing manner, targeting up to approximately 2% of outstanding shares annually beyond our current repurchase plans.

•Reaffirming low-end guidance of $630.0 million Adjusted EBITDA and $315.0 million Adjusted Free Cash Flow for fiscal 2026, reflecting strong first quarter execution and confidence in our previously communicated assumptions. (See “Company Outlook” below)

Commentary from CEO Ole Rosgaard

“Greif entered fiscal 2026 with strong momentum,” said Ole Rosgaard, President and CEO of Greif Inc. “We delivered a 24.0 percent year-over-year increase in Adjusted EBITDA, expanded margins across the business, and executed meaningful cost reductions, all in a muted demand environment. At the same time, we reduced leverage to 1.2x while returning approximately $130.0 million to shareholders through disciplined share repurchases. This performance underscores the strength of our portfolio, the effectiveness of our