Greif Inc. reported fiscal third-quarter 2026 results showing operational improvements driven by cost discipline and execution, with net sales reaching $1.17 billion, representing a 3.5% increase compared to the same period last year. Net income rose to $81.6 million from $61 million in fiscal Q3 2025.
President and Chief Executive Officer Ole Rosgaard attributed the gains to disciplined execution rather than strengthening market conditions. He highlighted several achievements, including adjusted earnings before interest, taxes, depreciation and amortization of 25%, a reduction in leverage ratio to 1.1x, and the company surpassing a $90 million cumulative cost optimization target ahead of schedule. The company navigated the quarter amid significant geopolitical disruption and supply chain complexity, with executives noting ongoing negative impacts from regional conflict. To maintain supply continuity, Greif held elevated inventory levels during the period at elevated costs due to higher raw material indices.
All four business segments demonstrated sequential improvements. The polymer solutions segment achieved 1.5% volume growth year-over-year, driven particularly by intermediate bulk containers and large polymer containers, despite significant resin price increases. The closures business reported 5.5% year-over-year volume growth from new customer wins. The fiber solutions segment improved sequentially but declined 6.5% year-over-year, primarily due to a mill closure in Los Angeles. The company expects approximately $20 million in negative impacts for the full year attributable to regional conflict.
During the fiscal third quarter, Greif acquired Envaplast, a small polymer container producer based in Spain, for $61.7 million net of cash acquired. The acquisition strengthens Greif’s presence in the European market and the agrochemical sector, which represents the majority of Envaplast’s business. Leadership indicated a healthy pipeline of similar acquisition targets for future growth.
Greif raised its full-year guidance, adjusting the low-end EBITDA estimate to a range of $615 million to $635 million and the adjusted free cash flow conversion range to $305 million to $325 million.
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