Revenue: As of FY2026 Q3, the actual value is USD 1.166 B, beating the estimate of USD 1.116 B.

EPS: As of FY2026 Q3, the actual value is USD 1.35.

EBIT: As of FY2026 Q3, the actual value is USD 115.6 M.

Consolidated Performance

Greif, Inc.’s net income increased by 156.7% to $78.8 million for the third quarter of 2026, compared to $30.7 million in the prior year period. Excluding adjustments, net income rose by 87.0% to $93.3 million in the third quarter of 2026, up from $49.9 million in the third quarter of 2025. Adjusted EBITDA increased by 24.7% to $183.4 million for the third quarter of 2026, compared to $147.1 million in the same period last year. Overall, Greif, Inc. reported approximately 25% adjusted EBITDA growth, with margins expanding by more than 260 basis points year-over-year and 110 basis points sequentially from Q2 ‘26.

Cash Flow

Net cash provided by operating activities decreased by $69.3 million to $77.8 million for the third quarter of 2026. For the nine months ended June 30, 2026, net cash provided by operating activities was $170.0 million, down from $286.1 million in the prior year. Adjusted free cash flow decreased by $86.7 million to $57.7 million for the third quarter of 2026, with the prior year’s adjusted free cash flow not directly comparable due to contributions from the Containerboard Business. For the nine months ended June 30, 2026, Adjusted free cash flow was $196.0 million, compared to $207.6 million in the prior year. The company expects free cash flow conversion to be around 50% for the full year.

Debt and Leverage

Total debt was $1,030.4 million as of June 30, 2026, a decrease of $1,686.6 million. Net debt decreased by $1,689.9 million to $741.9 million as of June 30, 2026. The leverage ratio decreased to 1.1x as of June 30, 2026, from 3.1x as of July 31, 2025.

Operational Metrics and Strategic Actions

Greif, Inc. achieved $90 million in cumulative run-rate savings from its cost optimization program, meeting its fiscal year commitment. The company reaffirmed its expectation to achieve at least $120 million in cumulative run-rate savings by the end of fiscal year 2027. Greif, Inc. increased its quarterly dividend by 10.7% and announced its intention to begin executing share repurchases under a new plan, following a completed $150 million share repurchase plan earlier in the year. The company completed the bolt-on acquisition of Envaplast on June 2, 2026, which serves the Agrochemical end markets.

Segment Results (Three months ended June 30, 2026 vs. 2025)

Customized Polymer Solutions

Net sales increased by $45.9 million to $383.8 million, driven by higher average selling prices, positive foreign currency translation, and higher volumes. Gross profit increased by $20.2 million to $91.1 million, and operating profit increased by $24.4 million to $32.8 million. Adjusted EBITDA increased by $27.2 million to $64.3 million. Volumes increased by 1.5%.

Durable Metal Solutions

Net sales increased by $13.3 million to $405.6 million, primarily due to positive foreign currency translation and higher average selling prices, partially offset by lower volumes. Gross profit increased by $2.8 million to $90.9 million, and operating profit increased by $6.9 million to $52.7 million. Adjusted EBITDA increased by $10.4 million to $64.0 million.

Sustainable Fiber Solutions

Net sales decreased by $24.2 million to $346.5 million, mainly due to lower average selling prices, impacts from the Soterra Divestiture, and lower volumes. Gross profit decreased by $12.0 million to $73.1 million. Operating profit increased by $8.9 million to $13.9 million, primarily due to lower restructuring and other charges, lower non-cash asset impairment charges, and lower SG&A compensation expenses. Adjusted EBITDA decreased by $6.3 million to $42.5 million. Margins were lower year-over-year due to cost inflation.

Innovative Closure Solutions

Net sales increased by $4.7 million to $29.7 million, attributed to higher average selling prices, higher volumes, and positive foreign currency translation. Gross profit increased by $5.6 million to $17.5 million, and operating profit increased by $4.0 million to $8.5 million. Adjusted EBITDA increased by $5.0 million to $12.6 million.

Outlook / Guidance

Greif, Inc. provided a Fiscal 2026 outlook for Adjusted EBITDA ranging from $615 million to $635 million, representing approximately 10% to 13% EBITDA growth year-over-year. The company expects Fiscal 2026 Adjusted free cash flow to be between $305 million and $325 million, with an anticipated free cash flow conversion of approximately 50% for the full year. The tax rate for fiscal 2026 is projected to range from 24.0% to 28.0%, and its tax rate excluding adjustments is expected to be between 25.0% and 29.0%.