Greif reported improved cash flow and a stronger balance sheet in the second quarter of 2026, despite continued weakness in industrial demand. The results were released April 28, 2026.
Adjusted EBITDA increased 7.5% to $156.8 million, while adjusted free cash flow rose significantly to $179.3 million. Net income declined to $12.6 million, reflecting the impact of adjustments.
The company said demand remains subdued across its end markets, with no clear inflection point in the near term.
Stronger balance sheet
Greif significantly reduced its debt following prior asset divestitures, bringing total debt down to $1.0 billion and lowering its leverage ratio to 1.1x, compared with 3.3x a year earlier.
The improved financial position provides increased flexibility to invest in operations, return capital to shareholders and navigate ongoing market uncertainty.
Cost discipline and execution
The company continued to advance its cost optimization program, reaching $75 million in run-rate savings by the end of the quarter.
Operational execution and cost control contributed to margin expansion, even as volumes declined in several business segments.
Segment trends
Performance varied across business units. Customized Polymer Solutions and Durable Metal Solutions benefited from favorable currency effects and pricing, while Sustainable Fiber Solutions saw lower volumes.
Innovative Closure Solutions reported higher selling prices but weaker volumes.
Outlook
Greif said industrial markets have experienced a prolonged contraction, with geopolitical developments continuing to weigh on activity.
The company expects demand to remain weak in the near term and is maintaining a conservative outlook, focusing on cost control, cash generation and disciplined execution.
Greif is a global provider of industrial packaging products and services, operating in more than 35 countries. The company supplies customized polymer, metal and fiber-based packaging solutions to a wide range of industrial markets.
