Greif, Inc. (GEF) Earnings
Greif, Inc. is expected to report next earnings on September 2, 2026 (in NaN days), with a consensus EPS estimate of $1.23. GEF has beaten EPS estimates in 8 of its last 12 reported quarters (average surprise +1.0% over the last four).
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Apr 29, 2026 | $1.08 | $1.10 | +1.9% | $1.1B | -2.5% |
| Jan 27, 2026 | $0.69 | $0.48 | -30.4% | $995M | -10.7% |
| Aug 27, 2025 | $0.81 | $1.03 | +27.2% | $1.1B | +58.5% |
| Jun 4, 2025 | $1.13 | $1.19 | +5.3% | $1.4B | -2.2% |
| Feb 26, 2025 | $0.72 | $0.39 | -45.8% | $1.3B | -11.2% |
| Dec 4, 2024 | $1.09 | $1.13 | +3.7% | $1.4B | +0.6% |
| Aug 28, 2024 | $1.17 | $1.03 | -12.0% | $1.5B | +2.6% |
| Jun 5, 2024 | $0.85 | $0.82 | -3.5% | $1.4B | +5.5% |
| Feb 28, 2024 | $0.47 | $1.27 | +170.2% | $1.2B | -7.3% |
| Dec 6, 2023 | $1.30 | $1.56 | +20.0% | $1.3B | -2.1% |
| Aug 30, 2023 | $1.54 | $1.75 | +13.6% | $1.3B | -4.1% |
| Jun 7, 2023 | $1.32 | $1.77 | +34.1% | $1.3B | -12.9% |
Source: company filings + earnings calendar. For informational purposes only — not investment advice.
Earnings call summary
Q2 FY2026 · April 29, 2026
AI summary of management’s prepared remarks and analyst Q&A. For informational purposes only — not investment advice.
Management highlights
Management Statement and Operational Highlights: - Executed against strategy with focus on productivity and cost optimization, achieving $75 million in savings in Q2, on track for full - year target range of 80 to 90 million, with a total commitment of 120 million by fiscal year end 2027. - Strong balance sheet with a leverage ratio of 1.1 times even after completion of a $150 million share repurchase program. - EBITDA dollars improved 7.5% year over year, margins improved 110 basis points, and free cash flow improved by 93 million compared to Q2 2025. - Focused on managing impacts from the Middle East conflict, including ensuring safety of colleagues, customers, and suppliers, monitoring price and cost, and dealing with supply chain constraints. - Notable volume bright spots: small containers were resilient, Cuban Core was improving in major end markets, a $60 to $70 URB price increase was announced, and closure volumes were resilient.
Guidance
Guidance: Adjusted EBITDA guidance was revised to $610 million to reflect the disruptive impact of the Middle East conflict in Q2 and continued softness through year end, while maintaining the low - end adjusted free cash flow guidance of $315 million. Revised volume assumptions: metals, fiber, and enclosures are expected to decline mid - singles, while polymers are flat. The $60 URB increase will benefit the P&L starting in July, but is partially offset by a $5 a ton increase in OCC. Confident in maintaining the free cash flow guidance despite the lower EBITDA due to a lower working capital source and lower cash taxes.
Segment performance
Segment Performance: In polymer solutions, although volumes improved, gross profit was slightly down year over year mainly due to product and geographic sales mix. In metal solutions, gross profit dollar and percentage both improved year over year because of continued cost optimization and variable cost management. In fiber solutions, net sales was lower year over year due to volumes and mill closures in 2025. Despite lower volumes, positive year over year pricing and cost management led to gross profit margins improving by 50 basis points. Within closures, Third - party volumes declined in low single digits, while total volumes were flat year over year. Both gross profit dollars and margin increased on an absolute basis, reflecting strong price mix and continued operational improvements.
Risks & headwinds
Risks: Disruptive impact of the Middle East conflict on operations, including intermittent facility shutdowns in the region and potential EBITDA loss. Impact on input costs and supply chain constraints caused by the conflict, and the volatility and evolving nature of the conflict affecting broader demand and industrial sentiments.
Analyst Q&A
Q: About share buybacks, M&A pipeline and pricing actions.
A: Focus is on organic growth, and M&A is secondary, with a focus on complementing organic growth efforts. There is an authorization of $300 million for share repurchases and intends to be regular buyers. Pricing contracts with global customers have a price adjustment mechanism that operates on a monthly basis to offset raw material costs.
Q: On guidance bridge around SG&A and price cost.
A: Teams have driven costs out through supply chain and SG&A efforts to offset volume degradation, and are selling value over volume.
Q: On URB market and CapEx split.
A: Don't comment on future price increases. CapEx split is about $85 million for maintenance capex, some safety capex, and the remainder for organic growth in the resin - based sector.
Q: On volume side and incremental margin.
A: Incremental margin lift is exponential due to efficient operations and leveraging fixed cost structures. Structural cost reductions mean positioned to capitalize on volume recovery.
Q: On cost savings driver and regional performance.
A: Cost savings come from structural costs across the organization, including SG&A, footprint improvements, and sourcing benefits. Regional performance is mostly soft with no new pockets of strength noted except changes in the Middle East