Company: GEF
Filing Date: 2025-08-28
Form Type: 10-Q
Source: 0000043920-25-000048
Chunk: 142

Company: GREIF, INC
Filing Date: 2025-08-28
Form: 10-Q
Item: Part I, Item 2
Chunk 142
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 quarter of 2025 compared with $325.6 million for the third quarter of 2024. The $17.6 million decrease was primarily due to $24.5 million attributable to lower volumes, partially offset by $6.8 million from higher published containerboard and boxboard prices.

Gross profit was $75.4 million for the third quarter of 2025 compared with $67.9 million for the third quarter of 2024. The $7.5 million increase in gross profit was primarily due to lower raw material costs and lower manufacturing costs, partially offset by the same factors that impacted net sales. Gross profit margin was 24.5 percent and 20.9 percent for the third quarter of 2025 and 2024, respectively.

Operating profit was $23.2 million for the third quarter of 2025 compared with $35.9 million for the third quarter of 2024. The $12.7 million decrease was primarily due to higher restructuring and other charges related to plant closures, partially offset by the same factors that impacted gross profit. Adjusted EBITDA was $65.5 million for the third quarter of 2025 compared with $57.1 million for the third quarter of 2024. The $8.4 million increase was primarily due to the same factors that impacted gross profit.

Integrated Solutions

Our Integrated Solutions segment produces and sells complimentary packaging products, such as paints, linings and closure systems for industrial packaging products and related services. In addition, this reportable segment participates in the purchase and sale of recycled fiber and the production and sale of adhesives, which can be used in our containerboard and paperboard products.

Net sales were $87.1 million for the third quarter of 2025 compared with $100.5 million for the third quarter of 2024. The $13.4 million decrease was primarily due to a $14.3 million impact from the divestiture of Delta Petroleum Company, Inc. (the “Delta Divestiture”) during the third quarter of 2024.

Gross profit was $24.8 million for the third quarter of 2025 compared with $30.7 million for the third quarter of 2024. The $5.9 million decrease in gross profit was primarily due to the Delta Divestiture. Gross profit margin was 28.5 percent and 30.5 percent for the third quarter of 2025 and 2024, respectively.

Operating profit