Company: GEF
Filing Date: 2025-06-05
Form Type: 10-Q
Source: 0000043920-25-000025
Chunk: 125

Company: GREIF, INC
Filing Date: 2025-06-05
Form: 10-Q
Item: Part I, Item 2
Chunk 125
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 and integration related costs, plus restructuring and other charges, plus non-cash asset impairment charges, plus (gain) loss on disposal of properties, plants and equipment, net, plus (gain) loss on disposal of businesses, net, plus other costs, for that reportable segment.

We use Adjusted EBITDA as a financial measure to evaluate our historical and ongoing operations and believe that this non-GAAP financial measure is useful to enable investors to perform meaningful 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.

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Second 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 April 30, 2025 and 2024:

Three Months EndedApril 30,(in millions)20252024Net sales:Customized Polymer Solutions$329.3 $285.6 Durable Metal Solutions378.9 413.7 Sustainable Fiber Solutions599.1 580.1 Integrated Solutions78.4 91.6 Total net sales$1,385.7 $1,371.0 Operating profit:Customized Polymer Solutions$25.8 $6.3 Durable Metal Solutions54.1 56.5 Sustainable Fiber Solutions25.9 18.9 Integrated Solutions12.8 16.4 Total operating profit$118.6 $98.1 Adjusted EBITDA:Customized Polymer Solutions$53.4 $34.9 Durable Metal Solutions63.7 64.5 Sustainable Fiber Solutions79.5 49.5 Integrated Solutions17.3 20.8 Total Adjusted EBITDA$213.9 $169.7 

The following table sets forth Adjusted EBITDA, reconciled to net income and operating profit, for our consolidated results for the three months ended April 30, 2025 and 2024:

Three Months EndedApril 30,(in millions)20252024Net income$54.5 $52.0 Plus: interest expense, net34.9 30.2 Plus