Greif, Inc. reported its financial results for the second quarter and first half of fiscal year 2025, revealing a modest increase in net sales and operating profit compared to the same period in the previous year. For the three months ended April 30, 2025, the company achieved net sales of $1,385.7 million, a 1.1% increase from $1,371.0 million in the prior year. The operating profit for the quarter rose to $118.6 million, up from $98.1 million, while net income attributable to Greif, Inc. increased to $47.3 million from $44.4 million. Basic earnings per share for Class A common stock was $0.82, and for Class B common stock, it was $1.22.
In the first half of fiscal 2025, Greif's net sales reached $2,651.5 million, compared to $2,576.8 million in the same period of 2024, marking a 2.9% increase. The operating profit for the six months was $178.5 million, up from $167.0 million, while net income decreased to $68.9 million from $126.3 million, largely due to a significant one-time tax benefit recognized in the previous year. The company’s gross profit margin improved to 21.3% from 19.1%, attributed to lower raw material costs and higher average selling prices.
Strategically, Greif completed the acquisition of Ipackchem Group SAS in March 2024 for $582.1 million, enhancing its portfolio in high-performance plastic packaging. The integration of Ipackchem is expected to contribute positively to Greif's Customized Polymer Solutions segment, which reported a significant increase in net sales to $329.3 million for the second quarter, up from $285.6 million in the prior year. The segment's operating profit also surged to $25.8 million from $6.3 million, driven by contributions from recent acquisitions.
Operationally, Greif's total assets as of April 30, 2025, stood at $6,754.4 million, an increase from $6,647.6 million at the end of the previous fiscal year. The company reported a cash and cash equivalents balance of $252.7 million, up from $197.7 million. The company’s employee headcount remained stable, with no significant changes reported. Looking ahead, Greif anticipates stable pricing for key raw materials and expects to continue leveraging its acquisitions to drive growth, although it does not foresee any significant shifts in customer demand in the near term.
About GREIF, INC
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