Every material Form 8-K Greif has filed with the SEC since September 03, 2024, read and summarized by AI: what happened, the key figures, whether it reads positive or negative for shareholders, and how big a deal it is (impact 1-5). Newest first; each brief links to its own page and to the filing on SEC.gov.
Greif reported fourth-quarter and fiscal 2026 results for the year ended September 30, 2026. Full-year net income rose to $261.5 million, and Adjusted EBITDA rose 11.7%, while fourth-quarter Adjusted EBITDA fell 3.1% to $163.0 million and Adjusted free cash flow of $279.3 million was below the company's most recent guidance range. The company also gave fiscal 2027 low-end guidance of $645 million Adjusted EBITDA and $290 million Adjusted free cash flow.
Fiscal 2026 net income was $261.5 million, or $4.54 per diluted Class A share, versus $31.6 million, or $0.55, a year earlier.
Fourth-quarter net loss narrowed to $6.5 million, or $0.11 per diluted Class A share, from a net loss of $24.3 million, or $0.42, a year earlier.
Company will close its Sweetwater paperboard mill in Austell, GA, and has achieved $105 million in cumulative run-rate cost savings, with a new target of $150 million by the end of fiscal 2027.
Fiscal 2027 low-end guidance: Adjusted EBITDA of $645 million and Adjusted free cash flow of $290 million.
Greif reported fiscal third-quarter 2026 results for the period ended June 30, 2026, with net income up 156.7% year over year and adjusted EBITDA up 24.7% to $183.4 million. The company also raised its quarterly dividend by 10.7%, cut net debt by $1,689.9 million to $741.9 million, and said it will begin executing share repurchases under a new plan.
Net income of $78.8 million, or $1.37 per diluted Class A share, versus $30.7 million, or $0.53, a year earlier
Adjusted EBITDA of $183.4 million, up 24.7% from $147.1 million; net sales of $1,165.6 million, up from $1,125.9 million
Fiscal 2026 Adjusted EBITDA outlook of $615 million to $635 million and Adjusted free cash flow outlook of $305 million to $325 million
On May 11, 2026, Greif's U.S. subsidiaries replaced their $275 million receivables financing facility, which was set to mature May 15, 2026, with a $200 million facility led by PNC Bank, National Association, as agent. The filing says the prior facility was terminated by mutual consent with no material early termination penalty, and that the new facility's commitment termination date is May 11, 2027. The new facility is smaller than the one it replaced, and the company has guaranteed the subsidiaries' performance under it.
Fourth Amended and Restated Transfer and Administration Agreement dated May 11, 2026, with PNC Bank, National Association, provides for a $200 million Receivables Facility.
Existing Third Amended and Restated Transfer and Administration Agreement with Bank of America, N.A., provided for a $275 million facility; it was terminated May 11, 2026, with obligations satisfied by the new facility.
Commitment termination date is May 11, 2027; Greif Funding may terminate at any time on five days' prior written notice.
Facility bears variable interest tied to SOFR or a base rate plus a margin, payable monthly, and is secured by certain U.S. trade receivables.
Greif reported fiscal second-quarter 2026 results for the quarter ended March 31, 2026. Net income attributable to Greif fell 32.3% to $12.6 million, or $0.22 per diluted Class A share, while net income excluding adjustments rose 57.5% to $62.7 million, or $1.10 per share. The company reduced its low-end fiscal 2026 Adjusted EBITDA guidance, citing the Middle East conflict, so the weaker outlook offsets improved adjusted profit for shareholders.
Net sales were $1,072.8 million, compared with $1,078.4 million a year earlier.
Adjusted EBITDA rose 7.5% to $156.8 million; net debt was $719.8 million and the leverage ratio fell to 1.1x from 3.3x.
Low-end fiscal 2026 guidance: Adjusted EBITDA of $610 million and adjusted free cash flow of $315 million.
The $150.0 million share repurchase program was completed on April 15, 2026.
On February 27, 2026, Greif entered a new $800.0 million secured revolving credit facility and a $100.0 million secured term loan A-1 with JPMorgan Chase Bank, N.A., replacing its prior credit agreement. The same day, it entered a $400.0 million secured term loan with CoBank, ACB. The Company used the borrowings to repay and refinance its prior debt, and both facilities mature on February 27, 2031.
New $800.0 million revolving credit facility, including a $725.0 million multicurrency facility and a $75.0 million facility, maturing February 27, 2031
New $100.0 million secured term loan A-1 with JPMorgan Chase Bank, N.A. as administrative agent, with quarterly installments starting June 30, 2026
New $400.0 million secured term loan with CoBank, ACB, with quarterly installments starting June 30, 2026, and the same February 27, 2031 maturity
Financial covenants require a leverage ratio of no more than 4.00 to 1.00 and an interest coverage ratio of at least 3.00 to 1.00
Greif reported fiscal first quarter 2026 results for the three months ended December 31, 2025. Adjusted EBITDA rose 24.0% to $122.5 million, and adjusted net income rose 146.3% to $26.6 million, while net sales fell to $994.8 million from $1,016.7 million. The company reaffirmed its low-end fiscal 2026 guidance of $630 million Adjusted EBITDA and $315 million Adjusted free cash flow.
Adjusted EBITDA rose to $122.5 million from $98.8 million, driven in part by $65.0 million of run-rate cost optimization.
Adjusted net income was $26.6 million, or $0.48 per diluted Class A share, versus $10.8 million, or $0.20, a year earlier.
Net sales were $994.8 million versus $1,016.7 million, and net cash used in operating activities was $24.4 million.
About $130.0 million of share repurchases were completed in the quarter, and the Board authorized an additional $300.0 million of future repurchases.
Greif reported a two-month fourth quarter ended September 30, 2025, with a net loss from continuing operations of $43.3 million, compared with net income of $34.0 million a year earlier, while Adjusted EBITDA rose 7.4% to $98.9 million. The company also gave low-end fiscal 2026 guidance of $630 million Adjusted EBITDA and $315 million Adjusted free cash flow, raised its cost optimization commitment to $120 million, and plans a share repurchase of about $150 million.
Q4 net loss from continuing operations of $43.3 million, or $(0.73) per diluted Class A share, versus $34.0 million, or $0.58, a year earlier
Adjusted net income fell 98.2% to $0.6 million, or $0.01 per diluted Class A share
Eleven-month fiscal 2025 net income fell 93.2% to $15.1 million, or $0.28 per diluted Class A share; Adjusted EBITDA rose 3.1% to $511.3 million
Containerboard business sold to Packaging Corporation of America for $1.8 billion; timberlands sale for about $462.0 million completed October 1, 2025
Greif completed the sale of its containerboard business, including its CorrChoice sheet feeder network, to Packaging Corporation of America, effective August 31, 2025, for $1.8 billion, subject to certain adjustments. The company estimates a $1.1 billion gain on the sale and plans to use the proceeds to reduce debt by about $1.4 billion. Its 2025 guidance now covers only continuing operations, with Adjusted EBITDA of $507 million to $517 million and Adjusted Free Cash Flow lowered by $15 million to $290 million to $300 million.
Sale closed effective August 31, 2025; purchase price of $1.8 billion, subject to adjustments in the agreement
Buyer is Packaging Corporation of America; the company sold equity interests in the subsidiaries that owned the business
Estimated gain on sale of $1.1 billion; proceeds intended to reduce debt by about $1.4 billion
2025 Adjusted EBITDA guidance for continuing operations set at $507 million to $517 million, excluding $168 million year-to-date and implied fourth-quarter $50 million from the containerboard business
Greif reported fiscal third-quarter 2025 results, with net income attributable to Greif falling to $64.0 million from $87.1 million a year earlier, mainly due to a $46.1 million gain on the 2024 Delta Petroleum divestiture. Combined Adjusted EBITDA rose 11% to $220.9 million and adjusted free cash flow was $170.7 million, while the company also agreed to sell its timberlands business for $462.0 million and kept its fiscal 2025 guidance of $725 million to $735 million in Combined Adjusted EBITDA.
Net income attributable to Greif fell to $64.0 million, or $1.10 per diluted Class A share, from $87.1 million, or $1.50, a year earlier
Net income excluding adjustments rose 11.6% to $60.4 million, or $1.03 per diluted Class A share, versus $0.92 a year earlier
Combined Adjusted EBITDA rose 11% to $220.9 million; fiscal 2025 outlook is $725 million to $735 million
Agreed sale of timberlands business for $462.0 million to Molpus Woodlands Group, with closing anticipated October 1, 2025
Greif subsidiary Soterra LLC agreed on August 5, 2025 to sell about 173,000 acres of timberland in Alabama, Louisiana and Mississippi, plus certain mineral and contract rights, to MWF VI Encore, LLC, a subsidiary of The Molpus Woodlands Group, for approximately $462.0 million, subject to adjustments. Closing depends on title verification and third-party consents, and the company said cash proceeds will be used to repay debt, which the filing presents as part of its portfolio optimization.
Purchase price of approximately $462.0 million, subject to certain adjustments
Covers about 173,000 acres in Alabama, Louisiana and Mississippi, plus certain mineral and contract rights
Agreement dated August 5, 2025; press release issued August 6, 2025; closing expected shortly before or after fiscal year end
Greif, Inc. signed a definitive agreement on June 30, 2025 to sell its Greif Containerboard Solutions and Box-Board Holding businesses to Packaging Corporation of America for $1.8 billion in cash, subject to adjustments. The company says the proceeds will go toward debt repayment, with a pro-forma leverage ratio below 2.0x after closing, and the deal is expected to close by the end of fiscal 2025 pending regulatory approvals.
Purchase price is $1.8 billion, subject to certain adjustments, paid in cash to the seller
Closing is subject to conditions including expiration or early termination of the Hart-Scott-Rodino waiting period
Either party may terminate if closing has not occurred by June 30, 2026, subject to extensions of 90 days, with a second 90-day extension available to Greif
Management plans to use cash proceeds for debt repayment; CEO Ole Rosgaard and a conference call are scheduled for July 1, 2025 at 8:30 AM Eastern
Greif reported fiscal second quarter 2025 results for the period ended April 30, 2025. Net sales rose to $1,385.7 million from $1,371.0 million, net income attributable to Greif rose to $47.3 million ($0.82 per diluted Class A share) from $44.4 million ($0.77), and adjusted EBITDA rose 26.0% to $213.9 million. The company raised its low-end fiscal 2025 guidance, now $725 million of adjusted EBITDA and $280 million of adjusted free cash flow.
Net sales $1,385.7 million vs. $1,371.0 million a year earlier; net income attributable to Greif $47.3 million vs. $44.4 million
Adjusted EBITDA $213.9 million, up 26.0% from $169.7 million; net debt fell $197.6 million to $2,522.5 million
Low-end fiscal 2025 guidance: adjusted EBITDA $725 million and adjusted free cash flow $280 million, raised from prior guidance
Quarterly dividends of $0.54 per Class A share and $0.81 per Class B share declared June 2, 2025, payable July 1, 2025
Greif reported fiscal first-quarter 2025 results for the quarter ended January 31, 2025. Net sales rose to $1,265.8 million from $1,205.8 million, but net income attributable to Greif fell to $8.6 million from $67.2 million, mainly because the prior-year quarter included a non-recurring $48.1 million income tax benefit. The company also issued low-end fiscal 2025 guidance for Adjusted EBITDA of $710 million and adjusted free cash flow of $245 million.
Net sales $1,265.8 million vs. $1,205.8 million; net income attributable to Greif $8.6 million, or $0.15 per diluted Class A share, vs. $1.17 a year earlier
Adjusted EBITDA $145.1 million, up 5.9%; adjusted free cash flow was a use of $61.9 million
Total debt rose $548.4 million to $2,840.2 million, mainly from the Ipackchem acquisition; leverage ratio 3.63x vs. 2.46x
Plans to divest about 176,000 acres of Southeastern U.S. timberland, with proceeds applied to debt reduction; fiscal 2025 low-end Adjusted EBITDA guidance of $710 million
Greif reported fourth-quarter fiscal 2024 net sales of $1,417.1 million, up from $1,308.4 million, but net income attributable to Greif fell 6.5% to $63.4 million. For the full fiscal year, adjusted EBITDA fell 15.6% to $694.2 million, and the company gave low-end fiscal 2025 guidance while announcing a $100 million cost reduction effort, which matters to shareholders because lower profit and higher debt weigh on the outlook.
Q4 net income fell 6.5% to $63.4 million, or $1.08 per diluted Class A share, from $1.16 a year earlier; Q4 net sales rose to $1,417.1 million from $1,308.4 million.
Fiscal 2024 adjusted EBITDA fell 15.6% to $694.2 million; total debt rose $525.5 million to $2,740.6 million and the leverage ratio reached 3.53x.
Fiscal 2025 low-end guidance: adjusted EBITDA of $675 million and adjusted free cash flow of $225 million.
Company targets $100 million of structural cost reductions; Investor Day is set for December 11, 2024, and four new reportable segments begin in fiscal Q1 2025.
Greif, Inc. said director Vicki Avril-Groves will resign and retire from its Board of Directors effective November 1, 2024, and that the decision is not the result of any disagreement with the company. The filing describes the departure as due to personal reasons and does not name a successor. The change is a board departure with no financial figures attached, so it has no stated direct effect on results.
Vicki Avril-Groves notified Greif on October 2, 2024 of her resignation and retirement from the board.
The retirement takes effect November 1, 2024; the company says it is not the result of a disagreement on operations, policies or practices.
She joined the board in 2004 and chaired the Audit Committee for several years, according to the press release.
Board Chairman Bruce Edwards thanked her for 20 years of service in the October 3, 2024 press release.
Greif reported fiscal third-quarter 2024 results for the period ended July 31, 2024. Net sales rose to $1,454.2 million, but net income attributable to Greif fell 3.5% to $87.1 million, and adjusted EBITDA fell 14.5% to $193.7 million, while net debt rose $701.5 million to $2,715.3 million, which matters to shareholders because it increases financial leverage even as the company raised its quarterly dividend.
Net sales increased to $1,454.2 million from $1,330.3 million a year earlier, mainly on higher average selling prices and volumes.
Diluted earnings per Class A share were $1.50, versus $1.55 a year earlier; excluding adjustments, they were $1.03, versus $1.75.
Net debt rose to $2,715.3 million and the leverage ratio increased to 3.66x from 2.17x in the prior-year quarter.
The Board declared a quarterly dividend of $0.54 per Class A share, up 2 cents from the prior quarter, payable October 1, 2024.
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