Greif (GEF) Q1 FY2026 earnings: revenue $995 million

Greif, Inc. (GEF) reported revenue of $995 million for Q1 FY2026, the quarter ended 31 December 2025. Net income was $175 million, and diluted earnings per share $2.97. The figures are the company's own, from the 10-Q it filed with the SEC on 30 January 2026.

Revenue$995 million

Net income$175 million

Diluted EPS$2.97

QuarterQ1 FY2026ended 31 December 2025

The quarter, against the one before and a year earlier

Line	Q1 FY2026	Q4 FY2024	A year earlier	Change on the year
Revenue	995	1,107	n/a	n/a
Cost of revenue	792	879	n/a	n/a
Gross profit	203	228	n/a	n/a
Gross margin	20.4%	20.6%	n/a
Selling, general and administrative	146	146	n/a	n/a
Operating income	257	77.3	n/a	n/a
Operating margin	25.8%	7.0%	n/a
Pre-tax income	242	60.1	n/a	n/a
Income tax	58.9	6.2	n/a	n/a
Effective tax rate	24.4%	10.3%	n/a
Net income	175	70.1	n/a	n/a
Net margin	17.6%	6.3%	n/a
Diluted EPS	$2.97	$1.20	n/a	n/a

$ million except per share.

Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow and capital returned

Line	Q1 FY2026	Q4 FY2024	A year earlier	Change on the year
Operating cash flow	-24.4	187	n/a	n/a
Capital expenditure	33.0	45.1	n/a	n/a
Free cash flow	-57.4	142	n/a	n/a
Free cash flow margin	-5.8%	12.8%	n/a
Cash from investing	427	45.5	n/a	n/a
Cash from financing	-430	-217	n/a	n/a
Depreciation and amortisation	60.3	67.9	n/a	n/a
Buybacks	128	0.0	n/a	n/a
Dividends paid	32.5	31.2	n/a	n/a

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet at quarter end

Line	Q1 FY2026	Q4 FY2024	A year earlier	Change on the year
Shareholders' equity	2,941	2,082	n/a	n/a
Non-controlling interest	37.4	35.1	n/a	n/a
Redeemable equity	93.1	130	n/a	n/a
Short-term borrowings	289	18.6	n/a	n/a
Debt	655	2,729	n/a	n/a
Operating lease liabilities	136	230	n/a	n/a
Finance lease liabilities	26.0	34.2	n/a	n/a
Other liabilities	1,325	1,388	n/a	n/a
Total liabilities and equity	5,502	6,648	n/a	n/a
Fixed assets	1,132	1,652	n/a	n/a
Goodwill	1,701	1,954	n/a	n/a
Intangible assets	819	937	n/a	n/a
Cash and equivalents	244	198	n/a	n/a
Receivables	602	747	n/a	n/a
Other assets	1,006	1,160	n/a	n/a
Total assets	5,502	6,648	n/a	n/a

Quarterly results, the last 12 quarters

	Q4 FY2022 *	Q1 FY2023	Q2 FY2023	Q3 FY2023	Q4 FY2023 *	Q1 FY2024 †	Q2 FY2024 †	Q3 FY2024 †	Q4 FY2024	Q1 FY2026	Q2 FY2026	Q3 FY2026
Revenue	1,496	1,271	1,309	1,330	1,308	966	1,118	1,165	1,107	995	1,073	1,166
Cost of revenue	1,186	1,019	997	1,023	1,033	782	875	920	879	792	826	893
Gross profit	310	252	312	307	276	184	243	245	228	203	247	273
Gross margin	21%	20%	24%	23%	21%	19%	22%	21%	21%	20%	23%	23%
SG&A	140	139	137	136	137	135	156	153	146	146	192	150
Operating income	153	156	181	156	112	41.9	81.9	137	77.3	257	35.4	108
Operating margin	10%	12%	14%	12%	9%	4%	7%	12%	7%	26%	3%	9%
Pre-tax income	132	130	155	127	82.7	30.4	74.1	117	60.1	242	21.8	99.9
Tax rate	24%	29%	25%	25%	12%	-128%	29%	29%	10%	24%	27%	18%
Net income	99.5	89.9	111	90.3	67.8	67.2	44.4	87.1	70.1	175	12.6	77.8
Net margin	7%	7%	8%	7%	5%	7%	4%	7%	6%	18%	1%	7%
Diluted EPS	$1.67	$1.54	$1.90	$1.55	$1.16	$1.17	$0.77	$1.50	$1.20	$2.97	$0.22	$1.35
Operating cash flow	287	32.9	211	202	204	4.5	87.5	76.8	187	-24.4	117	77.8
Capital expenditure	64.1	49.3	41.8	45.3	77.2	55.6	41.0	44.8	45.1	33.0	56.8	28.7
Free cash flow	222	-16.4	169	157	126	-51.1	46.5	32.0	142	-57.4	59.8	49.1
Buybacks	11.1	17.8	41.8	4.3	0.0	0.0	0.0	0.0	0.0	128	19.1	2.9
Dividends paid	29.3	28.9	29.0	28.8	29.8	29.7	30.0	30.1	31.2	32.5	31.8	32.7
Filing	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-KT	10-Q	10-Q	10-Q

Each quarter as filed, linked to its filing.

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS and diluted share count are from the company's results press release for that quarter, used where the release gives the same revenue and net income as the table. A quarter marked † is shown as the company last restated it in a later filing, so it compares with the quarters around it on one basis; rest on a figure for the one first filed. EPS is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

Source

10-Q for the period ended 31 December 2025, filed 30 January 2026, accession 0001628280-26-004414: the filing on EDGAR. All of Greif, Inc.'s filings: EDGAR company page.

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