Company: GEF
Filing Date: 2025-06-05
Form Type: 10-Q
Source: 0000043920-25-000025
Chunk: 53

Company: GREIF, INC
Filing Date: 2025-06-05
Form: 10-Q
Item: Part I, Item 1
Chunk 53
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 for the six months ended April 30, 2025 and 2024:

Six Months EndedApril 30,(in millions)20252024Net income$68.9 $126.3 Plus: interest expense, net72.6 54.4 Plus: other expense, net0.2 8.7 Plus: income tax expense (benefit)37.6 (21.2)Plus: equity earnings of unconsolidated affiliates, net of tax(0.8)(1.2)Operating profit178.5 167.0 Less: equity earnings of unconsolidated affiliates, net of tax(0.8)(1.2)Plus: depreciation, depletion and amortization expense133.0 126.3 Plus: acquisition and integration related costs4.2 14.1 Plus: restructuring and other charges17.3 (1.1)Plus: non-cash asset impairment charges24.4 1.7 Plus: gain on disposal of properties, plants and equipment, net(1.1)(3.0)Plus: loss on disposal of businesses, net1.4 — Plus: other costs*0.5 0.5 Adjusted EBITDA$359.0 $306.7 *includes fiscal year-end change costs and share-based compensation impact of disposals of businesses

35

The following table sets forth Adjusted EBITDA for our business segments, reconciled to the operating profit for each segment, for the six months ended April 30, 2025 and 2024:

Six Months Ended April 30, 2025(in millions)Customized Polymer SolutionsDurable Metal SolutionsSustainable Fiber SolutionsIntegrated SolutionsConsolidatedOperating profit$39.6 $91.7 $29.5 $17.7 $178.5 Less: equity earnings of unconsolidated affiliates, net of tax— — — (0.8)(0.8)Plus: depreciation and amortization expense46.0 13.9 68.0 5.1 133.0 Plus: acquisition and integration related costs4.2 — — — 4.2 Plus: restructuring and other charges2.2 2.2 12.1 0.8 17.3 Plus: non-cash asset impairment charges0.7 2.2 21.1