Gabe Hajde

George Staphos

Ghansham Panjabi

Matthew Roberts

Michael Roxland

Brian Butler

Daniel Harriman

Aadit Shrestha

Josh Vesely

Matt Roberts

Niccolo Piccini

Richard Carlson

- Greif Inc. completed the **$1.8 billion** sale of its containerboard business to Packaging Corporation of America (PCA).  **[43920_c4ec2544f45f4b2eaedd83816872c3aa]** 
- Greif plans to use approximately **$1.4 billion** of the sale proceeds to pay down debt.  **[43920_c4ec2544f45f4b2eaedd83816872c3aa]** 
- Following the divestment, Greif revised its **2025 full-year guidance**, with adjusted EBITDA projected between **$507 million and $517 million** and adjusted free cash flow between **$290 million and $300 million**.  **[43920_c4ec2544f45f4b2eaedd83816872c3aa]** 
- The containerboard business will be classified as a 'discontinued operation' starting in the **third quarter of 2025**.  **[43920_c4ec2544f45f4b2eaedd83816872c3aa]**

Greif Sells Containerboard Business to PCA

- Greif reported fiscal third quarter 2025 results, with **net income** from continuing operations decreasing **49.6%** to **$39.3 million** and **Combined Adjusted EBITDA** increasing **11%** to **$220.9 million**.  **[43920_0000043920-25-000051_gef2025q3erex991breaklink.htm:0]** 
- The company announced significant divestitures, including the containerboard business for **$1.8 billion**, expected to close **August 31, 2025**, and the timberlands business for **$462.0 million**, anticipated to close **October 1, 2025**.  **[43920_0000043920-25-000051_gef2025q3erex991breaklink.htm:0]**  These transactions are expected to reduce the leverage ratio to below **1.2x**.  **[43920_0000043920-25-000051_gef2025q38-kerex993.htm:1]** 
- Greif achieved **$20.0 million** in run-rate cost optimization savings by the end of Q3 2025.  **[43920_0000043920-25-000051_gef2025q3erex991breaklink.htm:0]** 
- The company updated its fiscal 2025 outlook, raising the midpoint for **Combined Adjusted EBITDA** to **$730 million** and **Adjusted free cash flow** to **$310 million**.  **[43920_0000043920-25-000051_gef2025q38-kerex993.htm:2]** **[43920_0000043920-25-000051_gef2025q3erex991breaklink.htm:3]** 
- The Board of Directors declared increased quarterly cash dividends, raising Class A Common Stock dividends by **$0.02 per share** and Class B Common Stock dividends by **$0.03 per share**.  **[43920_0000043920-25-000051_gef2025q3erex991breaklink.htm:0]**

Greif Announces Fiscal Third Quarter 2025 Results and Strategic Divestitures

- Greif is undergoing a portfolio transformation with planned divestments of its containerboard business (end of August) and Timberland (October 1), which are expected to generate approximately **€1.75 billion** in net cash proceeds and reduce the leverage ratio to **below 1.2 times**.  **[43920_tx_353785_1]** 
- The company has achieved **$20 million** in run rate savings towards its fiscal 2025 commitments of **$15 million to $25 million**, with **$15 million** from SG&A.  **[43920_tx_353785_1]** 
- For Q3 2025, Adjusted EBITDA increased by **$4 million**, and Free Cash Flow rose by almost **400% to $171 million**.  **[43920_tx_353785_3]**  The revised eleven-month guidance midpoint for EBITDA is **$730 million** (raised $5 million), and Free Cash Flow is **$310 million** (raised $30 million), primarily due to cost optimization gains.  **[43920_tx_353785_3]** **[43920_tx_353785_4]** 
- Greif is sharpening its portfolio to concentrate on resilient markets such as agrochemicals, pharma, flavor & fragrance, and food & beverage.  **[43920_tx_353785_1]** **[43920_tx_353785_2]**  With significant capital available post-divestitures and a low leverage ratio, the company's capital allocation priorities include dividends, organic growth, and M&A, specifically targeting polymer businesses with at least **18% EBITDA margin** and **50% free cash flow conversion**.  **[43920_tx_353785_5]** **[43920_tx_353785_7]**

Greif Announces Q3 2025 Earnings and Strategic Portfolio Shifts

GREIF (GEF)