Financial Performance - Net income for the three months ended December 31, 2025, was $180.9 million, a significant increase from $26.7 million in the same period of 2024, representing a growth of 577.5%[9] - Comprehensive income attributable to Greif, Inc. was $186.5 million for the three months ended December 31, 2025, compared to a loss of $16.2 million in 2024[9] - As of December 31, 2025, Greif, Inc. reported a net income of $174.6 million, compared to $22.0 million for the same period in 2024, indicating a significant increase in profitability[14] - Comprehensive income for the three months ended December 31, 2025, was reported at $186.5 million, compared to a loss of $16.2 million for the same period in 2024[14] - For the three months ended December 31, 2025, total net sales reached $994.8 million, a decrease from $1,016.7 million in the same period of 2024, representing a decline of approximately 2.2%[92][93] - Operating profit for the three months ended December 31, 2025, was $256.6 million, compared to $34.1 million in the same period of 2024, indicating a significant increase[92][93] Assets and Equity - Total assets decreased to $5,502.5 million as of December 31, 2025, down from $5,766.8 million as of September 30, 2025[12] - Total shareholders' equity increased to $2,978.5 million as of December 31, 2025, compared to $2,952.4 million as of September 30, 2025[12] - The total shareholders' equity as of December 31, 2025, was $2,978.5 million, up from $2,077.1 million as of December 31, 2024, reflecting a growth of approximately 43.4% year-over-year[14] Debt and Cash Flow - Long-term debt decreased to $655.1 million as of December 31, 2025, from $914.8 million as of September 30, 2025, reflecting a reduction of 28.4%[12] - Cash and cash equivalents at the end of the period were $243.5 million, down from $256.7 million at the beginning of the period[13] - The company reported net cash used in operating activities of $24.4 million for the three months ended December 31, 2025, compared to net cash provided of $16.6 million in 2024[13] - The Company had $288.9 million in short-term debt as of December 31, 2025, compared to $287.7 million as of September 30, 2025[50] Dividends and Share Repurchase - The company paid dividends of $32.5 million to Greif, Inc. shareholders during the three months ended December 31, 2025[13] - The company declared dividends of $31.7 million to Greif, Inc. shareholders for the quarter, with a dividend per Class A share of $0.56 and Class B share of $0.83[14] - The Company repurchased 1,813,600 shares of Class A Common Stock and 110,088 shares of Class B Common Stock under the 2017 Authorization during the three months ended December 31, 2025[84] - The Company has authorized a new share repurchase program for up to $300.0 million under the 2025 Authorization, which will commence after completing the 2017 Authorization[83] Segment Performance - The Customized Polymer Solutions segment reported net sales of $305.1 million in Q4 2025, up from $294.4 million in Q4 2024, reflecting a growth of approximately 2.4%[92][93] - The Durable Metal Solutions segment achieved net sales of $354.8 million in Q4 2025, compared to $355.9 million in Q4 2024, showing a slight decline of about 0.3%[92][93] - The Sustainable Fiber Solutions segment reported net sales of $311.9 million in Q4 2025, down from $344.0 million in Q4 2024, reflecting a decline of about 9.3%[92][93] - The Innovative Closure Solutions segment generated net sales of $23.0 million in Q4 2025, compared to $22.4 million in Q4 2024, indicating a growth of approximately 2.7%[92][93] Restructuring and Divestitures - Greif, Inc. completed the divestiture of its containerboard business on August 31, 2025, which is classified as discontinued operations, impacting the company's financial results significantly[19] - The Company completed the Soterra Divestiture on October 1, 2025, selling approximately 173,000 acres of timberland for $462.0 million, resulting in a gain of $216.2 million[30] - The Containerboard Business was divested for $1,804.7 million, with transaction costs of $23.4 million, and this divestiture qualifies as discontinued operations due to its significant impact on the Company's financial results[31] - The Company recorded restructuring charges of $8.2 million for the three months ended December 31, 2025, compared to $3.3 million for the same period in 2024[38] - The Company incurred $4.5 million in employee separation costs as part of its restructuring efforts during the three months ended December 31, 2025[38] - The Company has remaining expected restructuring costs of $26.6 million as of December 31, 2025[40] Accounting and Reporting Changes - The company has reclassified its financial results to reflect the new reportable segments, including the change from Integrated Solutions to Innovative Closure Solutions, effective October 1, 2025[21] - The fiscal year for Greif, Inc. now begins on October 1 and ends on September 30, aligning with the recent changes in reporting structure[24] - The Company adopted new accounting standards related to segment reporting in November 2023, which did not materially impact its financial position or results[25] - The Company is in the process of adopting new accounting standards, including ASU 2023-09 for income tax disclosures, effective October 1, 2025[28] - The Company is evaluating the impact of adopting new accounting standards on its financial position and results of operations[27] Other Financial Metrics - The Company recorded realized gains of $0.3 million and unrealized net losses of $(0.8) million for the three months ended December 31, 2025, under foreign exchange hedges[61] - The Company wrote down long-lived assets with a carrying value of $0.7 million to a fair value of $0.5 million, resulting in recognized asset impairment charges of $0.2 million for the three months ended December 31, 2025[66] - The Company granted 131,518 restricted stock units (RSUs) on November 3, 2025, with a weighted average fair value of $56.75[69] - The Company granted 215,586 performance stock units (PSUs) on November 3, 2025, with a weighted average fair value of $53.71[71] - The Company reported a basic and diluted EPS of $6.59 and $6.59, respectively, for the three months ended December 31, 2025[80] - The Company’s accumulated other comprehensive income (loss) as of December 31, 2025, was $(238.9) million, an improvement from $(250.8) million as of September 30, 2025[86]
Greif(GEF_B) - 2025 Q4 - Annual Report