Company: GEF
Filing Date: 2025-06-05
Form Type: 10-Q
Source: 0000043920-25-000025
Chunk: 108

Company: GREIF, INC
Filing Date: 2025-06-05
Form: 10-Q
Item: Part I, Item 8
Chunk 108
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 first six months of 2025 and 2024, respectively.

Operating profit was $29.5 million for the first six months of 2025 compared with $27.1 million for the first six months of 2024. The $2.4 million increase in operating profit was primarily due to the same factors that impacted gross profit, partially offset by higher SG&A expenses related to higher compensation expenses and costs incurred for strategic investments, higher restructuring and other charges and impairment charges related to plant closures. Adjusted EBITDA was $131.0 million for the 

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first six months of 2025 compared with $102.5 million for the first six months of 2024. The $28.5 million increase in Adjusted EBITDA was primarily due to the same factors that impacted gross profit, excluding impacts from depreciation and amortization, partially offset by higher SG&A expenses.

Integrated Solutions

Net sales were $145.5 million for the first six months of 2025 compared with $170.1 million for the first six months of 2024. The $24.6 million decrease in net sales was primarily due to a $26.5 million impact from the Delta Divestiture.

Gross profit was $45.6 million for the first six months of 2025 compared with $54.9 million for the first six months of 2024. The $9.3 million decrease in gross profit was primarily due to the Delta Divestiture. Gross profit margin was 31.3 percent and 32.3 percent for the first six months of 2025 and 2024, respectively.

Operating profit was $17.7 million for the first six months of 2025 compared with $28.5 million for the first six months of 2024. The $10.8 million decrease in operating profit was primarily due to the same factors that impacted gross profit. Adjusted EBITDA was $26.2 million for the first six months of 2025 compared with $34.3 million for the first six months of 2024. The $8.1 million decrease in Adjusted EBITDA was primarily due to the same factors that impacted gross profit.

Income tax expense

Income tax expense for the first six months of 2025 was $37.6 million compared with $21.2 million income tax benefit for the first six months of 2024, respectively. The $58.8 million increase in income tax expense was primarily