Quarterly ResultApr 28, 2026, 04:01 PM
GEF Q2 Adjusted EBITDA +7.5% to $156.8M; Leverage 1.1x
AI Summary
Greif, Inc. reported fiscal second quarter 2026 results for its continuing operations, with Adjusted EBITDA increasing 7.5% to $156.8 million and adjusted net income rising 57.5% to $62.7 million. The company significantly strengthened its financial position, reducing total debt by $1.77 billion and lowering its leverage ratio to 1.1x. Greif also completed a $150 million share repurchase program and refinanced long-term debt at favorable rates. CEO Ole Rosgaard noted a resilient quarter despite a soft industrial environment, emphasizing strong execution and a structurally stronger cash generation profile.
Key Highlights
- Leverage ratio decreased to 1.1x from 3.3x.
- Total debt decreased by $1.77 billion, primarily from divestment proceeds.
- Completed $150 million share repurchase program, repurchasing 2.2 million shares.
- Refinanced $500 million term loans and secured $800 million revolving credit at 3.14% interest.
- Adjusted EBITDA increased 7.5% to $156.8 million.
- Net income (excluding adjustments) increased 57.5% to $62.7 million ($1.10 per diluted Class A share).
- Adjusted free cash flow increased by $92.7 million to $179.3 million.
- Innovative Closure Solutions net sales increased 15.5%.