Company: GEF
Filing Date: 2025-06-05
Form Type: 10-Q
Source: 0000043920-25-000025
Chunk: 127

Company: GREIF, INC
Filing Date: 2025-06-05
Form: 10-Q
Item: Part I, Item 2
Chunk 127
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 Plus: other costs*0.1 0.1 — — 0.2 Adjusted EBITDA$53.4 $63.7 $79.5 $17.3 $213.9 Three Months Ended April 30, 2024(in millions)Customized Polymer SolutionsDurable Metal SolutionsSustainable Fiber SolutionsIntegrated SolutionsConsolidatedOperating profit$6.3 $56.5 $18.9 $16.4 $98.1 Less: equity earnings of unconsolidated affiliates, net of tax— — — (0.7)(0.7)Plus: depreciation and amortization expense17.5 7.2 37.9 3.3 65.9 Plus: acquisition and integration related costs11.2 — 0.3 — 11.5 Plus: restructuring and other charges0.2 0.3 (7.6)0.3 (6.8)Plus: non-cash asset impairment charges— 0.4 — — 0.4 Plus: (gain) loss on disposal of properties, plants and equipment, net(0.3)0.1 (0.2)0.1 (0.3)Plus: other costs*— — 0.2 — 0.2 Adjusted EBITDA$34.9 $64.5 $49.5 $20.8 $169.7 *includes fiscal year-end change costs and share-based compensation impact of disposals of businesses

Net Sales

Net sales were $1,385.7 million for the second quarter of 2025 compared with $1,371.0 million for the second quarter of 2024. The $14.7 million increase was primarily due to $15.2 million from higher average selling prices. See the “Segment Review” below for additional information on net sales by segment.

Gross Profit

Gross profit was $319.5 million for the second quarter of 2025 compared with $270.1 million for the second quarter of 2024. The $49.4 million increase was primarily due to the same factors that impacted net sales and lower raw material costs. See the “Segment Review” below for additional information on gross profit by segment. Gross profit margin was 23.1 percent and 19.7