Company: GEF
Filing Date: 2025-11-19
Form Type: 10-KT
Source: 0001628280-25-053146
Chunk: 45

Company: GREIF, INC
Filing Date: 2025-11-19
Form: 10-KT
Chunk 45
---
 |     |                             | -54.6 |     |                      |     — |     |              | -64.0 |
| Plus: other costs*                                                                                                                                                            |     |                                      |   0.6 |     |                         |   1.2 |     |                             |   1.2 |     |                      |   0.4 |     |              |   3.4 |
| Adjusted EBITDA                                                                                                                                                               |     | $                                    | 148.9 |     | $                       | 172.0 |     | $                           | 262.6 |     | $                    |  38.4 |     | $            | 621.9 |
| *includes fiscal year-end change costs, share-based compensation impact of disposals of businesses and one-time charitable contributions related to Containerboard Divestment |     |                                      |       |     |                         |       |     |                             |       |     |                      |       |     |              |       |

<div align='center'>29</div>

#### Table of Contents
Year 2025 (11 months ended September 30, 2025) Compared to Year 2024 (11 months ended September 30, 2024)

#### Net Sales
Net sales were $3,933.1 million for 2025 compared with $3,972.8 million for 2024. The $39.7 million decrease was primarily due to $86.9 million attributable to lower volume, the $40.8 million impact from the divestiture of Delta Petroleum Company, Inc. (the “Delta Divestiture”) during the third quarter of 2024 and lower average selling prices, partially offset by $97.2 million contributions from recent acquisitions. See “Segment Review” below for additional information on net sales by reportable segment.

#### Gross Profit
Gross profit was $871.5 million for 2025 compared with $817.8 million for 2024. The $53.7 million increase was primarily due to lower raw material, transportation and manufacturing costs, partially offset by the same factors that impacted net sales. See “Segment Review” below for additional information on gross profit by reportable segment. Gross profit margin was 22.2 percent for 2025 compared with 20.6 percent for 2024.

#### Selling, General and Administrative Expenses
Selling, general and administrative (“SG&A”) expenses were $601.9 million for 2025 compared with $