Company: GEF
Filing Date: 2025-08-28
Form Type: 10-Q
Source: 0000043920-25-000048
Chunk: 53

Company: GREIF, INC
Filing Date: 2025-08-28
Form: 10-Q
Item: Part I, Item 1
Chunk 53
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ross profit was $70.7 million for the third quarter of 2025 compared with $60.6 million for the third quarter of 2024. The $10.1 million increase was primarily due to the same factors that impacted net sales, partially offset by higher raw material costs and higher manufacturing costs. Gross profit margin was 20.8 percent and 19.3 percent for the third quarter of 2025 and 2024, respectively.

Operating profit was $8.8 million for the third quarter of 2025 compared with $9.6 million for the third quarter of 2024. The $0.8 million decrease was primarily due to higher SG&A expenses related to higher compensation expenses and higher restructuring and other charges, partially offset by the same factors that impacted gross profit. Adjusted EBITDA was $39.4 million for the third quarter of 2025 compared with $40.5 million for the third quarter of 2024. The $1.1 million decrease was primarily due to the same factors that impacted operating profit.

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Durable Metal Solutions

Our Durable Metal Solutions segment produces and sells metal-based packaging products, including a wide variety of steel drums.

Net sales were $399.8 million for the third quarter of 2025 compared with $424.1 million for the third quarter of 2024. The $24.3 million decrease was primarily due to $24.6 million attributable to lower volumes.

Gross profit was $86.4 million for the third quarter of 2025 compared with $85.7 million for the third quarter of 2024. The $0.7 million increase was primarily due to lower raw material costs, partially offset by the same factors that impacted net sales. Gross profit margin was 21.6 percent and 20.2 percent for the third quarter of 2025 and 2024, respectively.

Operating profit was $37.6 million for the third quarter of 2025 compared with $36.2 million for the third quarter of 2024. The $1.4 million increase was primarily due to the same factors that impacted gross profit. Adjusted EBITDA was $47.7 million for the third quarter of 2025 compared with $45.6 million for the third quarter of 2024. The $2.1 million increase was primarily due to the same factors that impacted gross profit.

Sustainable Fiber Solutions

Our Sustainable Fiber Solutions segment produces and sells fiber-based packaging products