Company: GEF
Filing Date: 2025-06-05
Form Type: 10-Q
Source: 0000043920-25-000025
Chunk: 6

Company: GREIF, INC
Filing Date: 2025-06-05
Form: 10-Q
Item: Part I, Item 1
Chunk 6
---
ITEM 1. CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

GREIF, INC. AND SUBSIDIARY COMPANIES

CONDENSED CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED)Three Months EndedApril 30,Six Months EndedApril 30,(in millions, except per share amounts)2025202420252024Net sales$1,385.7 $1,371.0 $2,651.5 $2,576.8 Cost of products sold1,066.2 1,100.9 2,086.5 2,085.1 Gross profit319.5 270.1 565.0 491.7 Selling, general and administrative expenses172.6 167.2 340.3 313.0 Acquisition and integration related costs2.0 11.5 4.2 14.1 Restructuring and other charges14.6 (6.8)17.3 (1.1)Non-cash asset impairment charges10.7 0.4 24.4 1.7 Loss (gain) on disposal of properties, plants and equipment, net0.5 (0.3)(1.1)(3.0)Loss on disposal of businesses, net0.5 — 1.4 — Operating profit118.6 98.1 178.5 167.0 Interest expense, net34.9 30.2 72.6 54.4 Other (income) expense, net(0.2)(0.4)0.2 8.7 Income before income tax expense and equity earnings of unconsolidated affiliates, net83.9 68.3 105.7 103.9 Income tax expense (benefit)29.8 17.0 37.6 (21.2)Equity earnings of unconsolidated affiliates, net of tax(0.4)(0.7)(0.8)(1.2)Net income 54.5 52.0 68.9 126.3 Net income attributable to noncontrolling interests(7.2)(7.6)(13.0)(14.7)Net income attributable to Greif, Inc.$47.3 $44.4 $55.9 $111.6