Excluding adjustments, net income climbed to $26.6 million (€22.3 million), 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 $65 million (€54million), in annualised cost savings so far out of a targeted $120 million (€100 million).
Adjusted EBITDA was $122.5 million (€102 million), for the quarter ended 31 December 2025, an increase from $98.8 million (€82 million), a year ago.
Despite the rise in earnings, Greif’s net cash generated from operations declined by $41 million (€34 million), year-on-year, resulting in an outflow of $24.4 million (€20.4 million), for the period.
Adjusted free cash flow also showed a decline of $17.7 million (€14.8 million), to negative $41 million (€34 million).
On an earnings call, CEO Ole Rosgaard said performance reflected “broader economic conditions remaining soft”.
In Customized Polymer Solutions, demand was “essentially flat overall,” with IBC volumes up low single digits, small containers down low single digits, and large containers down mid-single digits. He said Greif expects small containers to improve sequentially in the second quarter as agricultural seasonality picks up.
Durable Metal Solutions remained under pressure, with softness across regions and particularly among chemical customers. Rosgaard said the company is focusing that business on “cost discipline and cash generation.”