Company: GEF
Filing Date: 2025-08-28
Form Type: 10-Q
Source: 0000043920-25-000048
Chunk: 139

Company: GREIF, INC
Filing Date: 2025-08-28
Form: 10-Q
Item: Part I, Item 2
Chunk 139
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.2 0.2 Plus: gain on disposal of properties, plants and equipment, net(0.1)(0.1)(3.1)(0.1)(3.4)Plus: gain on disposal of businesses, net— — — (46.1)(46.1)Plus: other costs*1.0 1.2 2.3 0.5 5.0 Adjusted EBITDA$40.5 $45.6 $57.1 $13.8 $157.0 *includes fiscal year-end change costs and share-based compensation impact of disposals of businesses

Net Sales

Net sales were $1,134.7 million for the third quarter of 2025 compared with $1,164.9 million for the third quarter of 2024. The $30.2 million decrease was primarily due to $40.1 million attributable to lower volumes, partially offset by positive foreign currency translation impacts. See the “Segment Review” below for additional information on net sales by segment.

Gross Profit

Gross profit was $257.3 million for the third quarter of 2025 compared with $244.9 million for the third quarter of 2024. The $12.4 million increase was primarily due to lower raw material costs, partially offset by the same factors that impacted net sales. See the “Segment Review” below for additional information on gross profit by segment. Gross profit margin was 22.7 percent and 21.0 percent for the third quarter of 2025 and 2024, respectively.

Selling, General and Administrative Expenses

Selling, general and administrative (“SG&A”) expenses were $157.0 million for the third quarter of 2025 compared with $152.8 million for the third quarter of 2024. The $4.2 million increase was primarily due to higher compensation expenses. SG&A expenses were 13.8 percent and 13.1 percent of net sales for the third quarter of 2025 and 2024, respectively.

34

Financial Measures

Operating profit was $73.1 million for the third quarter of 2025 compared with $136.7 million for the third quarter of 2024. Net income was $44.7 million for the third quarter of 2025 compared with $84.5 million for the third quarter of 2024. Adjusted EBITDA was $160.7 million