Company: GEF
Filing Date: 2025-06-05
Form Type: 10-Q
Source: 0000043920-25-000025
Chunk: 105

Company: GREIF, INC
Filing Date: 2025-06-05
Form: 10-Q
Item: Part I, Item 8
Chunk 105
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)Customized Polymer SolutionsDurable Metal SolutionsSustainable Fiber SolutionsIntegrated SolutionsConsolidatedOperating profit$18.0 $93.4 $27.1 $28.5 $167.0 Less: equity earnings of unconsolidated affiliates, net of tax— — — (1.2)(1.2)Plus: depreciation and amortization expense29.5 14.5 75.9 6.4 126.3 Plus: acquisition and integration related costs13.0 — 1.1 — 14.1 Plus: restructuring and other charges0.4 0.7 (3.0)0.8 (1.1)Plus: non-cash asset impairment charges— 0.4 1.3 — 1.7 Plus: (gain) loss on disposal of properties, plants and equipment, net(0.3)0.1 (0.2)(2.6)(3.0)Plus: other costs*0.1 0.1 0.3 — 0.5 Adjusted EBITDA$60.7 $109.2 $102.5 $34.3 $306.7 *includes fiscal year-end change costs and share-based compensation impact of disposals of businesses

Net Sales

Net sales were $2,651.5 million for the first six months of 2025 compared with $2,576.8 million for the first six months of 2024. The $74.7 million increase was primarily due to $97.2 million contributions from recent acquisitions, partially offset by a $26.5 million impact from the Delta Divestiture. See the “Segment Review” below for additional information on net sales by segment.

Gross Profit

Gross profit was $565.0 million for the first six months of 2025 compared with $491.7 million for the first six months of 2024. The $73.3 million increase was primarily due to the same factors that impacted net sales and lower raw material costs, partially offset by higher manufacturing costs. See “Segment Review” below for additional information on gross profit by segment. Gross profit margin was 21.3 percent and 19.1 percent for first six months of 2025 and 2024, respectively.

Selling, General and Administrative Expenses

SG&A expenses were $340