GEF

This article first appeared on GuruFocus. Release Date: July 29, 2026 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Greif Inc (NYSE:GEF) achieved approximately 25% adjusted EBITDA growth, demonstrating strong financial performance. The company expanded its margins by more than 260 basis points, indicating improved operational efficiency. Greif Inc (NYSE:GEF) reduced its leverage to just 1.1 times, showcasing strong financial management. The company is committed to delivering $120 million of annualized cost optimization by the end of the next fiscal year. Greif Inc (NYSE:GEF) has a strong cash generation capability, expecting a free cash flow conversion of around 50% this year. Ongoing geopolitical disruptions, particularly in the Middle East, continue to impact demand. Broader industrial markets remain soft, reflecting geopolitical uncertainty. Fiber solutions segment experienced lower net sales year over year due to a mill closure. The company strategically maintained higher inventory balances at a high dollar cost due to increased raw material indices. There is uncertainty in the pace of market recovery, with demand improvements coming from a very low base. Warning! GuruFocus has detected 9 Warning Signs with GEF. Is GEF fairly valued? Test your thesis with our free DCF calculator. Q: How has the URB (Uncoated Recycled Board) market trended in July compared to Q3, and what are the expectations for price recognition? A: Larry Hillsheimer, CFO, stated that operating rates remain strong at 96%, indicating robust demand. Despite some market commentary, they have not faced significant resistance from non-contract customers, and they expect price recognition. The fundamentals support this, and they have not factored any slowdown into their guidance. Q: Can you provide insights into the demand trends on a regional basis and the sequential volume improvements? A: Ollie Rossgaard, CEO, noted that while demand has improved globally, it is from a low base. The company has been successful in winning new business, particularly in flavor, fragrance, and pharma segments. However, they continue to face pressure from the chemical market and muted housing markets. The focus remains on controlling what they can and pursuing new growth opportunities. Q: How is the commercial shift from "farmers" to "hunters" progressing, and what are the expectations? A: Ollie Rossgaard, CEO, expressed satisfaction with the progress, although it's still early days. The company has restructured its commercial approach, focusing on solution selling and helping customers solve their challenges. This shift is supported by new tools and a focus on finding new business opportunities. Q: What is the current M&A pipeline, and should we expect an increase in M&A activity? A: Ollie Rossgaard, CEO, mentioned that while the focus is on organic growth, they are supplementing it with bolt-on acquisitions. They have a healthy pipeline of similar companies and expect to continue with this strategy, avoiding transformative M&A and focusing on strategic bolt-ons. Q: How has the company managed the price/cost dynamics in the polymer segment amid inflationary pressures? A: Larry Hillsheimer, CFO, explained that the company has seen significant price increases in resin but has managed to stay ahead of inflationary pressures by working closely with customers. They do not expect further dramatic increases but are well-positioned to manage the current pricing environment. For the complete transcript of the earnings call, please refer to the full earnings call transcript.

Greif, Inc. GEF reported adjusted earnings of $1.61 per share for third-quarter fiscal 2026,  beating the Zacks Consensus Estimate of $1.04. The 54.81% earnings surprise reflected stronger price performance, structural cost optimization and lower interest expenses. The company posted adjusted earnings of 86 cents in the year-ago quarter, excluding the impacts of adjustments.Including one-time items, earnings per share were $1.37 in the quarter compared with 53 cents in the prior-year quarter. Greif, Inc. price-consensus-eps-surprise-chart | Greif, Inc. Quote GEF’s sales increased 3.5% year over year to $1.17 billion. The top line surpassed the Zacks Consensus Estimate of $1.12 billion.The cost of sales rose 2.7% year over year to $893 million. Gross profit amounted to $273 million, up 6.5% from the prior-year quarter. The gross margin came in at 23.4%, up from the prior-year quarter’s 22.7%.Selling, general and administrative expenses were $149.5 million compared with the prior-year quarter’s $168 million. Adjusted EBITDA rose 24.7% year over year to $183.4 million in the fiscal third quarter. The adjusted EBITDA margin came in at 15.7% compared with the prior-year quarter’s 13.1%. Revenues in the Customized Polymer Solutions segment increased 13.6% year over year to $384 million, primarily driven by higher average selling prices, favorable foreign currency translation and higher volumes. Our model projected revenues of $331 million for the quarter. The segment’s adjusted EBITDA rose to $64.3 million from $37.1 million in the year-ago quarter. The reported figure beat our estimate of $33 million.The Durable Metal Solutions segment’s revenues increased 3.4% year over year to $406 million in the fiscal third quarter, aided by positive foreign currency translation and higher average selling prices, partly offset by lower volumes. The figure beat our estimated revenues of $387 million. The segment’s adjusted EBITDA improved to $64 million from $53.6 million in the prior-year quarter. We projected the segment’s adjusted EBITDA to be $52 million.The Sustainable Fiber Solutions segment’s revenues declined 6.5% year over year to $346.5 million, reflecting lower average selling prices, impacts from the Soterra divestiture and lower volumes. The figure beat our estimated revenues of 260 million. The segment’s adjusted EBITDA was $42.5 million, down from $48.8 million in the year-ago quarter. We projected the segment’s adjusted EBITDA to be $71 million.The Innovative Closure Solutions segment’s revenues rose 18.8% year over year to $30 million, supported by higher average selling prices, higher volumes and favorable foreign currency translation. We projected the segment's revenues to be $148 million in the quarter. Adjusted EBITDA increased to $12.6 million from $7.6 million a year earlier. Our forecast for the quarter’s adjusted EBITDA was $7 million. Greif reported cash and cash equivalents of $288.5 million as of June 30, 2026, compared with $256.7 million at the end of fiscal 2025. The cash flow from operating activities totaled $77.8 million in the quarter under review, down from $147.1 million in the prior-year quarter.Long-term debt amounted to $687.4 million as of June 30, 2026, compared with $914.8 million as of Sept. 30, 2025. Total debt was $1.03 billion, while net debt declined to $741.9 million from $2.43 billion as of July 31, 2025.On June 2, Greif’s board declared a quarterly cash dividend of 62 cents per share of Class A Common Stock and 93 cents per share of Class B Common Stock. The dividend represented a 10.7% increase and was paid out on July 1, 2026, to shareholders of record at the close of business on June 17, 2026.The company also announced plans to execute share repurchases under existing authorizations. It achieved $90 million in cumulative run-rate cost savings and maintained its target of at least $120 million by the end of fiscal 2027. Greif also completed the $57-million Envaplast acquisition, adding an agrochemical-focused small-container producer in Spain. GEF expects fiscal 2026 adjusted EBITDA of $615-$635 million, implying year-over-year growth of 9.8-13.4%. The outlook reflects improved fiscal third-quarter demand and continued execution, even as industrial conditions remain subdued and the company has not seen evidence of a broad recovery.The adjusted free cash flow is projected between $305 million and $325 million, with conversion of about 50%. Current assumptions call for flat Customized Polymer Solutions volumes, mid-single-digit declines in Durable Metal Solutions, and low-single-digit declines in both Sustainable Fiber Solutions and Innovative Closure Solutions. The company’s shares have gained 32.4% in a year compared with the industry’s 2.2% growth. Image Source: Zacks Investment Research Greif currently carries a Zacks Rank #4 (Sell). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. Packaging Corporation of America PKG reported second-quarter 2026 adjusted earnings of $2.35 per share, down 5.2% year over year but beating the Zacks Consensus Estimate of $2.31. The bottom line also came above Packaging Corp’s guidance of $2.33, driven by higher production and sales volumes, including contributions from the acquired Greif business. This was partially offset by lower price and mix in the packaging segment, and higher operating, freight and labor costs. Packaging Corp’s sales increased 14.7% year over year to $2.49 billion and surpassed the consensus estimate of $2.40 billion by 3.6%. Total corrugated products shipments reached an all-time quarterly record, rising 24.3% both per day and in total from the prior-year quarter. Crown Holdings, Inc. CCK posted second-quarter 2026 adjusted earnings of $2.49 per share, up 15.8% year over year. The figure surpassed the Zacks Consensus Estimate of $2.15 by 15.81%. Crown Holdings sales increased 16.5% to $3.67 billion and beat the consensus estimate of $3.34 billion by 9.88%. Global beverage can volumes rose 5%, led by 6% growth in Europe and 5% growth in the Americas. This was partially offset by softer demand in Latin America. Sonoco Products Company SON reported adjusted earnings of $1.51 per share in the second quarter of 2026, beating the Zacks Consensus Estimate of $1.47 by 2.72%. The figure rose 10.2% from $1.37 in the year-ago quarter. Pricing actions, favorable foreign-exchange movements and productivity gains helped offset softer volume/mix during the quarter. Sonoco’s sales of $1.885 billion declined 1.3% year over year and missed the consensus mark of $1.886 billion by 0.05%. Sonoco’s top line declined from the prior-year period primarily due to the absence of sales from the ThermoSafe business, which was divested in November 2025. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Greif, Inc. (GEF) : Free Stock Analysis Report Sonoco Products Company (SON) : Free Stock Analysis Report Packaging Corporation of America (PKG) : Free Stock Analysis Report Crown Holdings, Inc. (CCK) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

Our analysts just identified a stock with the potential to be the next Nvidia. Tell us how you invest and we'll show you why it's our #1 pick. Tap here. Management attributed the 25% adjusted EBITDA growth and 260 basis point margin expansion to structural improvements rather than cyclical market recovery, which remains uneven. The company achieved its $90 million run rate cost optimization milestone ahead of schedule by simplifying the organization and optimizing the manufacturing network. Performance in Polymer Solutions was driven by IBC and large container strength, while Closures benefited from high single-digit volume growth through new business wins. Management highlighted a strategic shift in the sales force from 'farmers' to 'hunters,' focusing on solution-based selling and new logo acquisition in high-value segments like pharma and fragrances. The Fiber Solutions segment faced margin pressure from cost inflation, though management noted that sequential improvements were supported by better performance in partitions, tubes, and cores. Operational resilience was tested by Middle East conflict disruptions, which management countered through decisive price/cost management and maintaining higher strategic inventory levels. Updated EBITDA guidance of $615 million to $635 million assumes the company can offset a portion of the projected $20 million headwind from Middle East geopolitical impacts. Management remains committed to reaching a $120 million annualized cost optimization run rate by the end of fiscal 2027. The company expects free cash flow conversion to remain around 50% for the full year, supported by the normalization of inventory levels and costs in the fourth quarter. Strategic M&A will focus on disciplined 'tuck-in' acquisitions like Envaplast to penetrate new markets and expand small polymer presence, rather than transformative deals. Guidance for Fiber Solutions assumes margin improvement in Q4 as the April $60 per ton price increase flows through the P&L, despite non-recognition by RISI indices. A new $150 million stock repurchase plan was authorized, reflecting management's confidence in the business and the belief that the stock is currently undervalued. The acquisition of Envaplast in Spain provides a foothold in the EMEA agrochemical market with attractive EBITDA margins exceeding 18%. Net leverage was reduced to 1.1x, providing significant balance sheet flexibility; management intends to keep leverage below 2.0x and likely below 1.5x in the near term. The L.A. mill closure impacted year-over-year sales in Fiber Solutions but was part of a broader strategy to optimize the manufacturing footprint. One stock. Nvidia-level potential. 30M+ investors trust Moby to find it first. Get the pick. Tap here. Management reported strong mill operating rates of 96% and argued that underlying fundamentals do not support the lack of price recognition by RISI. They noted minimal resistance from non-RISI contract customers regarding the recent price increases. Management credited the team for staying ahead of dramatic resin price jumps by adjusting prices almost daily in response to Middle East crisis volatility. They expect resin pricing to stabilize at current levels rather than continuing to increase or significantly decreasing in the near term. Ole Rosgaard hesitated to call the current sequential improvement a market inflection, noting that demand is growing from a very low historical base. Growth is currently being driven by 'self-help' initiatives and winning new logos in target markets like flavor, fragrance, and pharma. The company is actively pursuing a healthy pipeline of small polymer producers similar to Envaplast to accelerate organic growth strategies. Management explicitly stated they are avoiding transformative M&A in favor of high-ROIC tuck-in acquisitions.

Interested in Greif, Inc.? Here are five stocks we like better. Greif’s fiscal Q3 performance improved despite weak demand and geopolitical disruption: Adjusted EBITDA rose about 25% year over year, margins expanded by more than 260 basis points, leverage fell to 1.1 times, and the company reached its $90 million cost-optimization milestone ahead of schedule. The company raised its fiscal 2026 outlook to adjusted EBITDA of $615 million–$635 million and free cash flow of $305 million–$325 million, citing stronger price-cost execution, structural savings and sequential demand improvements across all segments. Capital returns and strategic expansion are increasing: Greif raised its recurring dividend by 10.7%, completed a $150 million buyback and is seeking approval for another $150 million plan, while its Envaplast acquisition strengthens its European polymer and agrochemical packaging presence. Is Consumer Discretionary a Dead End? These 3 Stocks Say No Greif (NYSE:GEF) reported fiscal third-quarter 2026 results that management said reflected structural cost reductions, improved commercial execution and resilient profitability despite geopolitical disruption and uneven industrial demand. President and CEO Ole Rosgaard said adjusted EBITDA increased about 25% from a year earlier, while adjusted EBITDA margin expanded by more than 260 basis points. The company also reduced leverage to 1.1 times and reached its $90 million run-rate cost optimization milestone ahead of schedule. → This Tiny AI Supplier Could Be More Important Than the Chipmakers 3 Stocks That Wall Street Insiders Can’t Stop Buying “Those results were not driven by stronger markets,” Rosgaard said. “They were driven by disciplined execution.” Greif said it has focused on simplifying its organization, lowering its structural cost base, optimizing its manufacturing network and investing in growth opportunities. Rosgaard said the company remains committed to reaching $120 million in annualized cost optimization on a run-rate basis by the end of the next fiscal year. → Refiner Stocks Are Near Record Highs—Can Iran-Driven Margins Keep Them There? Management said the Middle East conflict continued to affect demand during the quarter, though demand improved sequentially across all four business segments. Polymer Solutions: Volumes rose 1.5%, led by intermediate bulk containers and large polymer containers. Small polymer volumes trailed a particularly strong prior-year comparison but remained among the company’s stronger product categories over the last two years. Metal Solutions: The segment improved sequentially, although broader industrial markets remained soft amid geopolitical uncertainty. Fiber Solutions: Performance improved from the second quarter. Excluding the prior-year closure of its Los Angeles mill, underlying converting demand was close to flat, supported by partitions and SuperCore products. Closures: Third-party demand increased by the mid-single digits and total volume rose by the high single digits as Greif won new business. Rosgaard said the company has continued to target new customers and selected end markets, including flavor and fragrance and pharmaceutical markets. At the same time, he said fiber and steel operations remain pressured by chemical-market conditions and muted housing activity. → Innovative ETF Strategies That Are Paying Off This Summer “While demand has improved globally, it is from a very low base,” Rosgaard said during the question-and-answer session, adding that Greif is emphasizing actions within its control rather than relying on a broad market recovery. Executive Vice President and CFO Larry Hilsheimer said sales were approximately in line with the prior year, while adjusted EBITDA growth was driven primarily by improved price-cost performance and structural cost optimization. Adjusted EBITDA margin also rose 110 basis points sequentially from the second quarter. Adjusted earnings per share improved nearly 90% year over year, aided by higher EBITDA, lower interest costs and favorable quarterly taxes, according to Hilsheimer. Adjusted free cash flow was $58 million in the quarter. Greif maintained higher-than-normal inventory levels during the quarter to support customer supply continuity amid Middle East-related volatility and supply-chain challenges. Hilsheimer said inventory carried a higher dollar cost because of increased raw-material indices, but the company expects inventory levels and costs to decline in the fourth quarter. In Polymer Solutions, gross profit dollars and margin improved on volume, price-cost performance and structural savings. Hilsheimer said resin prices increased sharply during the third quarter, but the company’s teams raised prices rapidly in response. He said Greif does not expect a similar continued dramatic rise in resin prices, nor does it expect a decrease. In Fiber Solutions, sales declined from the prior year because of the Los Angeles mill closure, while margins were affected by cost inflation. The April $60-per-ton uncoated recycled board price increase began flowing through the profit-and-loss statement, and management expects this to support fiber margins heading into the fourth quarter. Greif also announced an additional $60-per-ton price increase in June, which it said has been fully implemented for its non-RISI customer base. Hilsheimer said the company believes RISI’s lack of recognition of the increase is inconsistent with what Greif sees as healthy customer demand and a higher year-over-year cost environment. The company’s mill operating rates were 96%, he added. Greif raised the low end of its fiscal 2026 adjusted EBITDA outlook, now projecting a range of $615 million to $635 million, compared with its prior low-end assumption of $610 million. The updated range represents expected year-over-year EBITDA growth of roughly 10% to 13%. The company continues to expect approximately $20 million of Middle East-related effects, but said it has taken actions to offset at least a portion of that headwind. Greif forecast adjusted free cash flow conversion of about 50% and adjusted free cash flow of $305 million to $325 million for the year. Management cited higher working capital and restructuring costs as changes from its previous guidance assumptions, partly offset by better cash taxes. Some effects from higher inventory costs in the third quarter are expected to persist through year-end. Greif completed a $150 million share repurchase plan earlier in the year and raised its recurring dividend by 10.7%. The company also said it asked its board’s stock repurchase committee to approve an additional $150 million repurchase plan. Management expects leverage to remain below 2.0 times, with below 1.5 times viewed as more realistic in the near term. Greif also discussed its acquisition of Envaplast, a Spanish producer of small polymer containers. Management said the transaction gives Greif a foothold in Spain, where it previously had limited small-polymer operations, and expands its presence in agrochemical markets, which account for most of Envaplast’s business. Hilsheimer said Envaplast met Greif’s acquisition criteria, including EBITDA margins above 18%, free cash flow conversion exceeding 50% and exposure to less-cyclical end markets. Rosgaard said Greif has a pipeline of similar bolt-on opportunities and expects to complete a number of comparable acquisitions annually, while avoiding transformative transactions. Greif, Inc is a global leader in industrial packaging products and services, with a history dating back to its founding in 1877. Headquartered in Cleveland, Ohio, the company has evolved from a regional barrel and drum manufacturer into a diversified packaging provider serving a wide range of end markets. Greif's longstanding heritage in container solutions has positioned it as a trusted partner for customers seeking reliable, high-quality packaging options. The company's core business revolves around the design, manufacture and sale of industrial packaging products, including steel, plastic and fiber drums; intermediate bulk containers (IBCs); safety closures; rigid, flexible and reconditioned packaging; containerboard and protective packaging. This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected]. The article "Greif Q3 Earnings Call Highlights" was originally published by MarketBeat. View MarketBeat's top stocks for July 2026.

DELAWARE, Ohio, July 28, 2026 (GLOBE NEWSWIRE) -- 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 our existing share repurchase authorizations as part of 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.” Note: A reconciliation of the differences between all non-GAAP financial measures used in this release with the most directly comparable GAAP financial measures is included in the financial schedules that are a part of this release. These non-GAAP financial measures are intended to supplement, and should be read together with, our financial results. They should not be considered an alternative or substitute for, and should not be considered superior to, our reported financial results. Accordingly, users of this financial information should not place undue reliance on these non-GAAP financial measures. Basis of Presentation and Comparability On June 30, 2025, we entered into a definitive agreement to divest our Containerboard Business, including our CorrChoice sheet feeder system, in an all-cash transaction for $1.8 billion to Packaging Corporation of America. Beginning in the third quarter of 2025, the Containerboard Business was reported as discontinued operations. The transaction closed as of August 31, 2025. 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 Third Quarter 2026 Segment Results: (all current period results are compared to the third quarter of 2025 and both periods reflect only continuing operations unless otherwise noted) Net sales are impacted mainly by the volume of products sold, selling prices and product mix, and the impact of changes in foreign currencies against the U.S. Dollar. The table below shows the percentage impact of each of these items on net sales for our primary products for the fiscal third quarter of 2026 as compared to the prior year quarter for the business segments indicated. Net sales from completed acquisitions are not included in the table below but will be included one year after purchase within its respective segments. Customized Polymer Solutions Net sales increased by $45.9 million to $383.8 million primarily due to $29.9 million higher average selling prices, $8.5 million of positive foreign currency translation impacts and higher volumes. Gross profit increased by $20.2 million to $91.1 million. The increase in gross profit was primarily due to the same factors that impacted net sales, partially offset by higher raw material, transportation and manufacturing costs. Operating profit increased by $24.4 million to $32.8 million primarily due to the same factors that impacted gross profit and lower SG&A compensation expenses related to cost optimization. Adjusted EBITDA increased by $27.2 million to $64.3 million primarily due to the same factors that impacted operating profit. Durable Metal Solutions Net sales increased by $13.3 million to $405.6 million primarily due to $14.0 million of positive foreign currency translation impacts and $11.4 million of higher average selling prices, partially offset by $12.0 million attributable to lower volumes. Gross profit increased by $2.8 million to $90.9 million. The increase in gross profit was primarily due to the same factors that impacted net sales, partially offset by higher raw material costs and higher transportation costs. Operating profit increased by $6.9 million to $52.7 million primarily due to same factors that impacted gross profit and lower SG&A compensation expenses related to cost optimization, partially offset by loss on disposal of properties, plants and equipment, net. Adjusted EBITDA increased by $10.4 million to $64.0 million primarily due to the same factors that impacted gross profit and lower SG&A compensation expenses related to cost optimization. Sustainable Fiber Solutions Net sales decreased by $24.2 million to $346.5 million primarily due to $15.3 million attributable to lower average selling prices, $5.3 million of impacts from the Soterra Divestiture and lower volumes. Gross profit decreased by $12.0 million to $73.1 million. The decrease in gross profit was primarily due to the same factors that impacted net sales, partially offset by lower raw material and manufacturing costs related to lower volumes. Operating profit increased by $8.9 million to $13.9 million primarily due to lower restructuring and other charges, lower non-cash asset impairment charges and lower SG&A compensation expenses related to cost optimization, partially offset by the same factors that impacted gross profit. Adjusted EBITDA decreased by $6.3 million to $42.5 million primarily due to the same factors that impacted gross profit, partially offset by lower SG&A expenses related to cost optimization. Innovative Closure Solutions Net sales increased by $4.7 million to $29.7 million primarily due to higher average selling prices, higher volumes and positive foreign currency translation impact. Gross profit increased by $5.6 million to $17.5 million. The increase in gross profit was primarily due to the same factors that impacted net sales. Operating profit increased by $4.0 million to $8.5 million primarily due to the same factors that impacted gross profit. Adjusted EBITDA increased by $5.0 million to $12.6 million primarily due to the same factors that impacted gross profit. Tax Summary During the third quarter, we recorded an income tax rate of 17.9 percent and a tax rate excluding the impact of adjustments of 18.0 percent. Income tax expense for interim periods is calculated using estimated annual effective tax rates applied to year to date earnings, which can result in quarter‑to‑quarter variability. For fiscal 2026, we expect our tax rate to range between 24.0 to 28.0 percent and our tax rate excluding adjustments to range between 25.0 to 29.0 percent. Dividend Summary On June 2, 2026, the Board of Directors declared quarterly cash dividends of $0.62 per share of Class A Common Stock and $0.93 per share of Class B Common Stock, resulting in a total dividend payment of approximately $35.2 million. Dividends were paid by July 1, 2026, to stockholders of record at the close of business on June 17, 2026. Company Outlook Note: Our fiscal 2026 guidance estimates of Adjusted EBITDA and Adjusted free cash flow and our estimated tax rate and tax rate excluding the impact of adjustments contain forward-looking statements and actual results may differ materially as a result of known and unknown uncertainties and risks, including those set forth below under the heading “Forward-Looking Statements.” In addition, these forward-looking non-GAAP financial measures are presented on a non-GAAP basis without reconciliations to their most directly comparable GAAP financial measures, forecasted net income in the case of Adjusted EBITDA and forecasted net cash provided by operating activities in the case of Adjusted free cash flow, due to the inherent difficulty in projecting and quantifying the various adjusting items necessary for such reconciliations, such as gains or losses on the disposal of businesses or properties, plants and equipment, non-cash asset impairment charges due to unanticipated changes in the business, restructuring related activities, acquisition and integration related costs, debt extinguishment costs, stock-based compensation expense, amortization and depreciation expense, merger and acquisition activity, and other costs that have not yet occurred, are out of our control, or cannot be reasonably predicted. Accordingly, reconciliations of our guidance for Adjusted EBITDA and Adjusted free cash flow are not available without unreasonable effort. Conference Call The Company will host a conference call to discuss third quarter 2026 results on July 29, 2026, at 8:00 a.m. Eastern Time (ET). Participants may access the call using the following online registration link: https://register-conf.media-server.com/register/BI2b6bfecf034241d1929d1b17aa4056c5. Registrants will receive a confirmation email containing dial in details and a unique conference call code for entry. Phone lines will open at 7:30 a.m. ET on July 29, 2026. A digital replay of the conference call will be available two hours following the call on the Company’s web site at http://investor.greif.com. Investor Relations contact information Bill D’Onofrio, Vice President, Corporate Development & Investor Relations, 614-499-7233. [email protected] About Greif Founded in 1877, Greif is a global leader in performance packaging located in 35 countries. The company delivers trusted, innovative, and tailored solutions that support some of the world’s most demanding and fastest-growing industries. With a commitment to legendary customer service, operational excellence, and global sustainability, Greif packages life’s essentials – and creates lasting value for its colleagues, customers, and other stakeholders. Learn more about the company’s Customized Polymer, Sustainable Fiber, Durable Metal, and Innovative Closure Solutions at www.greif.com and follow Greif on Instagram and LinkedIn. Forward-Looking Statements This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The words “may,” “will,” “expect,” “intend,” “estimate,” “anticipate,” “aspiration,” “objective,” “project,” “believe,” “continue,” “on track” or “target” or the negative thereof and similar expressions, among others, identify forward-looking statements. All forward-looking statements are based on assumptions, expectations and other information currently available to management. Although the Company believes that the expectations reflected in forward-looking statements have a reasonable basis, the Company can give no assurance that these expectations will prove to be correct. Such forward-looking statements are subject to certain risks and uncertainties that could cause the Company’s actual results to differ materially from those forecasted, projected or anticipated, whether expressed or implied. Such risks and uncertainties that might cause a difference include, but are not limited to, the following: (i) historically, our business has been sensitive to changes in general economic or business conditions, (ii) our global operations subject us to political risks, instability and currency exchange that have affected and could continue to adversely affect our results of operations, including the impacts of ongoing conflicts such as with Iran, (iii) the current and future challenging global economy and disruption and volatility of the financial and credit markets may adversely affect our business and our access to financing and could impact the timing of or otherwise disrupt our share repurchase plan, (iv) the continuing consolidation of our customer base and suppliers may intensify pricing pressure, (v) we operate in highly competitive industries, (vi) our business is sensitive to changes in industry demands and customer preferences, (vii) raw material delays, shortages, price fluctuations, global supply chain disruptions and high inflation may adversely impact our results of operations, (viii) energy and transportation price fluctuations and shortages may adversely impact our manufacturing operations and costs, (ix) we may encounter difficulties or liabilities arising from acquisitions or divestitures, (x) we may incur additional rationalization costs and product dispositions and there is no guarantee that our efforts to reduce costs will be successful, (xi) several operations are conducted by joint ventures that we cannot operate solely for our benefit, (xii) certain of the agreements that govern our joint ventures provide our partners with put or call options, (xiii) our ability to attract, develop and retain talented and qualified employees, managers and executives is critical to our success, (xiv) our business may be adversely impacted by work stoppages and other labor relations matters, (xv) we may be subject to losses that might not be covered in whole or in part by existing insurance reserves or insurance coverage and general insurance premium and deductible increases, (xvi) our business depends on the uninterrupted operations of our facilities, systems and business functions, including our information technology (“IT”) and other business systems, (xvii) a cyber-attack, security breach of customer, employee, supplier or company information and data privacy risks and costs of compliance with new regulations may have a material adverse effect on our business, financial condition, results of operations and cash flows, (xviii) we have in the past been and in the future could be subject to changes in our tax rates, the adoption of new U.S. or foreign tax legislation or exposure to additional tax liabilities, (xix) we have a significant amount of goodwill and long-lived assets which, if impaired in the future, would adversely impact our results of operations, (xx) changing climate, global climate change regulations and greenhouse gas effects may adversely affect our operations and financial performance, (xxi) we may be unable to achieve our greenhouse gas emission reduction target by 2030, (xxii) legislation/regulation related to environmental and health and safety matters could negatively impact our operations and financial performance, (xxiii) product liability claims and other legal proceedings could adversely affect our operations and financial performance, and (xxiv) we may incur fines or penalties, damage to our reputation or other adverse consequences if our employees, agents or business partners violate, or are alleged to have violated, anti-bribery, competition or other laws. The risks described above are not all-inclusive, and given these and other possible risks and uncertainties, investors should not place undue reliance on forward-looking statements as a prediction of actual results. For a detailed discussion of the most significant risks and uncertainties that could cause our actual results to differ materially from those forecasted, projected or anticipated, see “Risk Factors” in Part I, Item 1A of our most recently filed Form 10-K and our other filings with the Securities and Exchange Commission. All forward-looking statements made in this news release are expressly qualified in their entirety by reference to such risk factors. Except to the limited extent required by applicable law, we undertake no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. The income‑tax effects of the non‑GAAP reconciling adjustments are calculated using the applicable statutory tax rate for each relevant jurisdiction and may include both current and deferred components, determined in a manner consistent with the nature of each adjustment. Non‑GAAP reconciling adjustments are presented on a gross (pre‑tax) basis, and the related income‑tax effects of those adjustments are disclosed separately from other tax items (e.g., discrete tax benefits or expenses). When a tax item could be viewed as both a discrete tax item and related to a non‑GAAP reconciling adjustment, the Company classifies the item in a single category for the period and does not double‑count the impact.

Packaging Corporation of America PKG reported second-quarter 2026 adjusted earnings of $2.35 per share, down 5.2% year over year but beating the Zacks Consensus Estimate of $2.31. The bottom line also came above the company’s guidance of $2.33, driven by higher production and sales volumes, including contributions from the acquired Greif Inc. (GEF) business. This was partially offset by lower price and mix in the packaging segment, and higher operating, freight and labor costs.Including special items related to facility closures, the Wallula mill restructuring and acquisition and integration costs, earnings in the quarter were $2.15 per share compared with the prior-year quarter’s $2.67. Packaging Corporation of America price-consensus-eps-surprise-chart | Packaging Corporation of America Quote Sales increased 14.7% year over year to $2.49 billion and surpassed the consensus estimate of $2.40 billion by 3.6%. Total corrugated products shipments reached an all-time quarterly record, rising 24.3% both per day and in total from the prior-year quarter.Gross profit increased 6.1% year over year to $512.5 million. However, the gross margin contracted to 20.6% from 22.2% as the cost of sales rose 17.1% to $1.98 billion. Selling, general and administrative expenses increased 17% to $179 million.Adjusted operating income improved 1.4% year over year to $315 million. Adjusted EBITDA advanced 7.7% to $486 million, reflecting higher production and sales volumes in packaging and stronger paper segment results. Packaging: Sales in this segment increased 15.2% year over year to $2.31 billion, aided by higher production and sales volume, including contributions from the acquired Greif business. The figure beat our estimate of $2.14 billion. These gains were partly offset by unfavorable price and mix, along with higher labor, freight and operating costs.Shipments per day at legacy corrugated products plants increased 4.1%. Containerboard production was 1,415,000 tons, while containerboard inventory increased 40,000 tons from the year-ago quarter due to the acquisition.Adjusted operating profit was $328 million compared with $322 million in the prior-year quarter. Our model projected the segment’s adjusted operating income to be $313 million.  Paper: The segment’s revenues were $157 million in the April-June quarter, up 7.9% year over year. Our model projected the segment’s adjusted operating income to be $154 million. Sales volume increased 6.3% from the second quarter of 2025. The segment reported an operating profit of $34.3 million compared with the year-ago quarter’s $25.8 million. The improvement was supported by higher sales volume and favorable price and mix. Our projection for the segment’s adjusted operating income was $32 million. PKG ended the quarter with $666.8 million in cash, cash equivalents and marketable debt securities, down from $955.9 million a year earlier. Capital spending increased to $205.9 million from $169.7 million.For the first six months of 2026, capital expenditure totaled $370.6 million compared with $317.8 million in the prior-year period. The company expects third-quarter 2026 adjusted earnings of $2.91 per share. The outlook assumes continued strong packaging demand, another sequential increase in corrugated products volume, and benefits from previously announced containerboard and corrugated product price increases.PKG expects better operating performance across its containerboard mill system, although scheduled maintenance expenses will shift toward the paper segment. Freight costs and recycled fiber prices are expected to remain elevated, while higher mill production should increase chemical and electricity usage. PKG also anticipates lower paper volume but improved pricing and mix. The company’s shares have gained 13.5% in the past year against the industry’s decline of 5.6%. Image Source: Zacks Investment Research Packaging Corp currently has a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here. Ball Corporation BALL is scheduled to release second-quarter 2026 results on Aug. 4. The Zacks Consensus Estimate for BALL’s second-quarter 2026 earnings is pegged at 99 cents per share, suggesting year-over-year growth of 10%.The Zacks Consensus Estimate for Ball Corp’s top line is pegged at $3.67 billion, indicating growth of 9.8% from the prior-year reported figure. Ball Corp has a trailing four-quarter average surprise of 3.7%.Silgan Holdings Inc. SLGN is scheduled to release second-quarter 2026 results on July 29. The Zacks Consensus Estimate for SLGN’s second-quarter 2026 earnings is pegged at 96 cents per share, implying a year-over-year dip of 4.9%.The Zacks Consensus Estimate for Silgan Holdings’ top line is pegged at $1.62 billion, suggesting an increase of 5.1% from the prior-year reported figure. Silgan Holdings has a trailing four-quarter average surprise of 1.8%.AptarGroup, Inc. ATR is scheduled to release second-quarter 2026 results on July 30. The Zacks Consensus Estimate for AptarGroup’s second-quarter 2026 earnings is pegged at $1.34 per share, indicating a year-over-year dip of 19.3%. The Zacks Consensus Estimate for the company’s top line is pegged at $1 billion, implying growth of 3.8% from the prior-year reported figure. ATR has a trailing four-quarter average surprise of 3.1%. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Packaging Corporation of America (PKG) : Free Stock Analysis Report Silgan Holdings Inc. (SLGN) : Free Stock Analysis Report AptarGroup, Inc. (ATR) : Free Stock Analysis Report Ball Corporation (BALL) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

Packaging Corporation of America PKG is set to release second-quarter 2026 results on July 22, after the closing bell. The Zacks Consensus Estimate for PKG’s second-quarter revenues is pegged at $2.40 billion, indicating 10.7% growth from the year-ago reported figure. The consensus estimate for earnings is pegged at $2.31 per share. The Zacks Consensus Estimate for PKG’s second-quarter earnings has moved south in the past 60 days. The estimate indicates a year-over-year dip of 6.8%. Image Source: Zacks Investment Research Packaging Corp’s earnings beat the Zacks Consensus Estimates in two of the trailing four quarters and missed in the other two, the average surprise being a 1.3%. Image Source: Zacks Investment Research Our model does not predict an earnings beat for PKG this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat. That is not the case here, as you can see below.You can uncover the best stocks before they are reported with our Earnings ESP Filter. Earnings ESP: Packaging Corp has an Earnings ESP of -0.18%. Zacks Rank: PKG currently carries a Zacks Rank of 3. Packaging Corp closed the acquisition of the containerboard business of Greif, Inc GEF in September 2025. The Greif containerboard business includes two containerboard mills with approximately 800,000 tons of production capacity, and eight sheet feeder and corrugated plants located across the United States. While Greif was a 6-cent-per-share drag in the first quarter of 2026 due to storm disruption and higher freight and recycled fiber costs, management expects the acquired operations to be accretive to earnings in the second quarter. This is likely to have aided the Packaging segment in the to-be-reported quarter. Our model predicts the Packaging segment’s volume to rise 3.6% year over year. The price and mix impacts for the Packaging segment are expected to have been favorable at 3.3% for the quarter, per our model. The estimate for the segment’s quarterly revenues is pegged at $2.14 billion, suggesting growth of 6.9% from the year-ago quarter’s reported number. Our model estimates the segment’s operating income to be $260 million, indicating a dip of 24.9% from the prior-year reported figure. In the Paper segment, prices and mix are expected to have increased 1.8% year over year. We expect volume to increase 3.6% year over year. The estimate for the Paper segment’s revenues is pegged at $154 million for the June-end quarter, suggesting growth of 6.6% from the year-ago reported figure. The estimate for the segment’s operating income is $32 million, indicating 24.2% growth from the prior-year quarter’s actual. Over the past year, PKG shares have gained 18.6% against the industry’s 4.1% decrease. Image Source: Zacks Investment Research Here are some companies with the right combination of elements to post an earnings beat in their upcoming releases. Hubbell Incorporated HUBB, slated to release second-quarter 2026 results on July 28, has an Earnings ESP of +0.62% and a Zacks Rank of 2 at present. You can see the complete list of today’s Zacks #1 Rank stocks here. The Zacks Consensus Estimate for Hubbell’s second-quarter 2026 earnings is pegged at $5.32 per share, suggesting a year-over-year rise of 7.9%. HUBB has a trailing four-quarter average surprise of 4.7%. Deere & Company DE, slated to release third-quarter fiscal 2026 results on Aug. 20, has an Earnings ESP of +6.92% and a Zacks Rank of 3 at present. The Zacks Consensus Estimate for Deere’s third-quarter fiscal 2026 earnings is pegged at $4.82 per share, suggesting a year-over-year rise of 1.5%. DE has a trailing four-quarter average surprise of 10.2%. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Packaging Corporation of America (PKG) : Free Stock Analysis Report Deere & Company (DE) : Free Stock Analysis Report Greif, Inc. (GEF) : Free Stock Analysis Report Hubbell Inc (HUBB) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research