Company: GEF
Filing Date: 2025-02-27
Form Type: 10-Q
Source: 0000043920-25-000009
Chunk: 3

Company: GREIF, INC
Filing Date: 2025-02-27
Form: 10-Q
Item: Part I, Item 1
Chunk 3
---
ITEM 1. CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

GREIF, INC. AND SUBSIDIARY COMPANIES

CONDENSED CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED)Three Months EndedJanuary 31,(in millions, except per share amounts)20252024Net sales$1,265.8 $1,205.8 Cost of products sold1,020.3 984.2 Gross profit245.5 221.6 Selling, general and administrative expenses167.7 145.8 Acquisition and integration related costs2.2 2.6 Restructuring charges2.7 5.7 Non-cash asset impairment charges13.7 1.3 Gain on disposal of properties, plants and equipment, net(1.6)(2.7)Loss on disposal of businesses, net0.9 — Operating profit59.9 68.9 Interest expense, net37.7 24.2 Other expense, net0.4 9.1 Income before income tax expense and equity earnings of unconsolidated affiliates, net21.8 35.6 Income tax expense (benefit)7.8 (38.2)Equity earnings of unconsolidated affiliates, net of tax(0.4)(0.5)Net income 14.4 74.3 Net income attributable to noncontrolling interests(5.8)(7.1)Net income attributable to Greif, Inc.$8.6 $67.2 Basic earnings per share attributable to Greif, Inc. common shareholders:Class A common stock$0.15 $1.17 Class B common stock$0.22 $1.75 Diluted earnings per share attributable to Greif, Inc. common shareholders:Class A common stock$0.15 $1.17 Class B common stock$0.22 $1.75 Weighted-average number of Class A common shares outstanding:Basic25.9 25.5 Diluted26.0 25.6 Weighted-average number of Class B common shares outstanding:Basic21.3 21.3 Diluted21.3 21.3 Cash dividends declared per common share:Class A common stock$0.54 $0.52 Class B common