Company: GEF
Filing Date: 2025-02-27
Form Type: 10-Q
Source: 0000043920-25-000009
Chunk: 101

Company: GREIF, INC
Filing Date: 2025-02-27
Form: 10-Q
Item: Part I, Item 2
Chunk 101
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 comparisons of our historical and current performance. The foregoing non-GAAP financial measures are intended to supplement and should be read together with our financial results. These non-GAAP financial measures 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 the non-GAAP financial measures.

27

First Quarter Results

The following table sets forth the net sales, operating profit and Adjusted EBITDA for each of our business segments for the three months ended January 31, 2025 and 2024:

Three Months EndedJanuary 31,(in millions)20252024Net sales:Customized Polymer Solutions$295.1 $228.0 Durable Metal Solutions342.2 370.5 Sustainable Fiber Solutions561.4 528.8 Integrated Solutions67.1 78.5 Total net sales$1,265.8 $1,205.8 Operating profit:Customized Polymer Solutions$13.8 $11.7 Durable Metal Solutions37.6 36.9 Sustainable Fiber Solutions3.6 8.2 Integrated Solutions4.9 12.1 Total operating profit$59.9 $68.9 Adjusted EBITDA:Customized Polymer Solutions$39.5 $25.8 Durable Metal Solutions45.2 44.7 Sustainable Fiber Solutions51.5 53.0 Integrated Solutions8.9 13.5 Total Adjusted EBITDA$145.1 $137.0 

The following table sets forth Adjusted EBITDA, reconciled to net income and operating profit, for our consolidated results for the three months ended January 31, 2025 and 2024:

Three Months EndedJanuary 31,(in millions)20252024Net income$14.4 $74.3 Plus: interest expense, net37.7 24.2 Plus: income tax expense7.8 (38.2)Plus: other expense, net0.4 9.1 Plus: equity earnings of unconsolidated affiliates, net of tax(0.4)(0.5)Operating profit59.9 68.9 Less: equity earnings of unconsolidated affiliates, net of tax(0.4)(0.5)Plus: depreciation, depletion and amortization expense