Greif has reported a net income of $176.6m, or $3.00 per share, for the fiscal first quarter (Q1) 2026, up from $6.6m, or $0.13 per share, for the same period last year. Excluding adjustments, net income climbed to $26.6m, or $0.48 per share, marking a year-on-year rise of 146.3%. The company cited advancements in managing manufacturing expenses and reductions in selling, general and administrative costs as key factors, recording $65m in annualised cost savings so far out of a targeted $120m. Adjusted ...

Core Insights - Greif reported net sales of $994.8 million for Fiscal Q1 2026, a decrease of 2.2% year over year, while net income rose significantly to $182.9 million from $11.3 million in Fiscal Q1 2025 [1][1][1] Financial Performance - Gross profit increased by 1.6% year over year to $202.6 million despite a decline in overall sales [1][1] - The company experienced a downturn in industrial demand, particularly from chemical customers, affecting all segments [1][1] - Sales in the durable metals segment were nearly $355 million, remaining flat year over year, while customized polymers sales increased to approximately $305 million [1][1] - The sustainable fibers segment saw a notable decline in sales from $344 million to about $312 million, with the company reporting 14,000 tons of downtime during the quarter [1][1] Cost Optimization - Greif achieved $65 million in run-rate cost optimization, aiming for a total of $120 million, with a target of $80 million to $90 million by year-end [1][1] - The company reduced its professional workforce by 10%, equating to 220 positions, while also investing in its commercial teams [1][1] M&A Strategy - Greif is focusing on organic growth but remains open to strategic acquisitions that could complement its operations, maintaining a robust pipeline of tuck-in deals [1][1] - The fiber business saw an operating profit increase of approximately $216 million due to the sale of timberlands that closed in October [1][1] Outlook - The company reaffirmed its low-end fiscal year 2026 guidance for adjusted EBITDA of $630 million and adjusted free cash flow of $315 million [1][1] - Expectations for volume growth are slight in the customized polymers and innovative closures segments, while durable metals and sustainable fibers are projected to be flat or slightly down [1][1]

Core Insights - Tetra Pak has invested €60 million ($71.2 million) to establish a new pilot facility in Lund, Sweden, aimed at advancing paper-based barrier technology for aseptic beverage cartons [1] - The new packaging will replace the conventional aluminum foil layer with a paper-based alternative, increasing the paper content in each carton to approximately 80% [1] - The shift to paper-based barriers, when combined with plant-derived polymers, can raise the renewable content of the packaging to as much as 92% and potentially reduce carbon emissions by up to 43% [2] Investment and Strategic Goals - The pilot plant will enable customers to explore the new barrier solution through various production stages, aligning with Tetra Pak's broader plan to invest around €100 million annually until 2030 in sustainable packaging technologies [4] - The Lund site was chosen for its strong academic connections, particularly with Lund University, and access to research infrastructure like the MAX IV Laboratory [3] Recent Developments - In 2023, Tetra Pak introduced its first aseptic carton using the paper-based barrier in collaboration with a dairy company in Portugal [4] - The company also launched a paper-based barrier for juice cartons in partnership with Spain's García Carrión last month [5]

Group 1 - VPK Group has increased its shareholding in Ribble Packaging from 30% to 50%, gaining joint control alongside existing shareholders [1] - The transaction is part of VPK's long-term strategy to strengthen its position in the fanfold packaging segment and expand its operational reach in Europe [1][3] - Ribble's managing director emphasized that the new joint venture will enhance sustainable growth, innovation, and customer service while maintaining the current organizational structure [2] Group 2 - Fanfold packaging, which is gaining traction in e-commerce and logistics, allows for matching varying product sizes, thereby limiting material use and improving transport efficiency [2][3] - VPK's increased stake supports its strategy of developing a vertically integrated model, as the company operates its own paper mills in Belgium and France [3] - The partnership aims to better serve e-commerce operators and distribution centers focused on right-sized packaging across Europe [3][4] Group 3 - VPK Group's CEO highlighted Ribble's significant investments and experience in the fanfold segment, positioning it as a leading player in the UK market [4] - The deepened partnership is expected to strengthen VPK's position in the fast-growing market for right-sized packaging, responding to increasing demand [4]

US packaging manufacturer Sealed Air has named Russell Grissett as global food president. Grissett moves to Sealed Air from Toppan Packaging Americas, where he was president and CEO and led the separation and integration of Sonoco’s flexible packaging operations following Toppan’s $1.8bn purchase of the business. Before joining Toppan, Grissett spent more than three decades at Sonoco in senior posts spanning general management, sales, marketing and manufacturing. His positions there included president o ...

SÜDPACK, the producer of films for the packaging sector, has started work on a capacity expansion for its PharmaGuard blister packaging range at its logistics site in Erolzheim, Germany. The aim is to bring the new facilities on stream in the third quarter of 2027. The project will see the addition of new production areas dedicated to PharmaGuard, SÜDPACK Medica’s polypropylene mono-material blister solution for solid-dose applications. It will also include a new unit to regranulate plastic waste genera ...

Core Viewpoint - Sealed Air has agreed to an acquisition by Clayton, Dubilier & Rice (CD&R) in an all-cash deal valued at $10.3 billion, expected to close in mid-2026, resulting in the company becoming privately held and delisted from the New York Stock Exchange [1][2]. Group 1: Acquisition Details - The acquisition will provide Sealed Air's shareholders with $42.15 per share in cash, representing a substantial premium [2]. - The agreement includes a 30-day "go-shop" period for soliciting alternative bids, with an additional 15 days for negotiations with qualified bidders [3]. - Equity financing will be provided by CD&R-affiliated investment funds, while debt financing is committed by a group including BofA Securities, BNP Paribas Securities, Goldman Sachs, JP Morgan Securities, UBS Investment Bank, and Wells Fargo, along with additional commitments from Citi, Mizuho, and RBC Capital Markets [3]. Group 2: Company Overview - Sealed Air designs and supplies packaging materials, equipment, and services across various sectors, including food, medical, e-commerce, and industrial [4]. - The company, known for its bubble wrap, generated $5.4 billion in sales in 2024 and employs approximately 16,400 people globally [4]. - CD&R partner Rob Volpe expressed commitment to supporting Sealed Air's continued investment in its people, assets, and product portfolio, highlighting respect for the company's senior leadership team [4].

Core Insights - Graphic Packaging International (GPI) reported a net sales of $2.19 billion for Q3 2025, a decrease of 1.2% year over year, with net income falling to $142 million from $165 million in Q3 2024 [1] Sales Performance - Packaging sales volumes declined by 2% year over year, attributed to sluggish consumer spending and unpredictable customer order flows [1] - Certain customer promotions were noted but deemed insufficient to drive overall volume increases [1] Operational Developments - GPI commenced operations at its recycled paperboard mill in Waco, Texas, ahead of schedule, producing its first commercially saleable rolls in October, with full production expected in 12 to 18 months [1] - The Waco facility is strategically located near four major urban centers, enhancing its ability to source recovered fiber feedstock [1] Plant Closures - The East Angus, Quebec recycled paperboard plant will cease production on December 23, 2025, following the operational launch of Waco [1] - The closure of East Angus, along with the earlier closure of the Middletown, Ohio facility, contributes to a capacity loss in the industry, with Waco adding only 75,000 tons more than the industry had at the start of 2025 [1] Market Dynamics - GPI anticipates that its recycled paperboard will replace more expensive bleached paperboard in various markets [1] - A significant imbalance in the solid bleached sulfate (SBS) market has led competitors to lower SBS pricing, which now matches recycled packaging pricing, impacting sales and profitability [1] Financial Outlook - GPI's full-year guidance for net sales remains unchanged at $8.4 billion to $8.6 billion, while the guidance for earnings before interest, taxes, depreciation, and amortization (EBITDA) has been lowered to between $1.4 billion and $1.45 billion [1] - The company acknowledges challenges in predicting demand but expresses confidence in improving margins moving forward [1]

Financial Performance - Net revenue increased by 80% compared to the prior year, or 44% on a constant currency basis[15] - Global sales of automation equipment increased by 630% compared to the prior year, or 562% on a constant currency basis[15] - Adjusted EBITDA increased by 81% (35% on a constant currency basis), including a 400 bps non-cash headwind for the provision of warrants in revenue ($08 million)[15] - Gross margin decreased by 28% year-over-year to 345% (344% on a constant currency basis) due to increased production costs and product mix[15] - Year-to-date net revenue increased by 56% on a constant currency basis[29] - Year-to-date Adjusted EBITDA decreased by 78% on a constant currency basis[29] Regional Performance - North America revenue increased by 109% due to increased volumes from e-commerce activity among large enterprise accounts[15] - EMEA/APAC revenue increased by 58% (decreased 06% on a constant currency basis) driven by increased automation equipment sales and stronger Euro to USD exchange rates[15] - Volumes in Europe/APAC were down by 25% due to a challenging environment and uncertainty from tariffs and de-stocking in APAC[17] Strategic Agreements - Agreement with Walmart is anticipated to be transformative to Automation and implies, based on expectations and current paper pricing, potential spend of $700 million over 10 years, to achieve full vesting[22] - Potential spend for maximum vesting with Amazon is $400 million excluding the cost of paper related to pre-existing NOAM business lines[32]

Group 1 - ProAmpac is a global flexible packaging specialist headquartered in Cincinnati, operating under Pritzker Private Capital since 2016, with over 50 manufacturing sites [2] - The company generates a little over two-thirds of its total revenue from recyclable products, as stated in its 2025 Impact Report [2] - ProAmpac's recent acquisitions include PAC Worldwide, a specialist in e-commerce packaging, and UP Paper, a recycled kraft paper producer, along with Gelpac, which produces multiwall paper and poly-woven packaging [2] Group 2 - ProAmpac's "fiberization" strategy aims to expand into less common applications for fiber-based packaging, such as frozen foods and overwraps, while also offering to-go food containers and cold cuts packs [3] - The acquisition of International Paper's bag converting operations marks ProAmpac's first expansion into California, enhancing its portfolio in kraft paper bags [4] - This expansion allows ProAmpac to provide more customized solutions for grocery, convenience store, and quick-service restaurant customers, including handled shopping bags and self-opening sacks [4]