EarningsQ3 2026 Earnings Report
DE:GR3 Q3 2026 EPS Results
Actual EPS€1.39
Consensus EPS€0.95
Beat/MissBeat by +€0.43
One Year Ago EPS€1.03
DE:GR3 Q3 2026 Revenue Results
Actual Revenue€1.00B
Expected Revenue€961.18M
Beat/MissBeat by +€42.82M
YoY Revenue Growth+2.72%
Earnings Announcement Details
QuarterQ3 2026
Date07/28/2026
TimeAfter Close
Conference CallTuesday, July 28, 2026
DE:GR3 Upcoming Earnings
Greif Class A's next earnings date is estimated for December 9, 2026, based on past reporting schedules.
Q3 2026 Earnings Call Audio
DE:GR3 Q3 2026 Earnings Call
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Q3 2026 Earnings Slide Deck
Q3 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call presented a broadly positive operational and financial progress narrative: meaningful adjusted EBITDA growth (~25%), strong margin expansion (260+ bps), nearly 90% adjusted EPS improvement, delivery of a $90M cost optimization milestone and continued focus on a $120M target, reduced leverage (~1.1x), healthy cash generation (Q3 FCF $58M; full‑year conversion ~50%), and amplified shareholder returns (dividend +10.7%, completed $150M buyback and additional $150M authorization). Offsetting these positives are ongoing Middle East‑related demand headwinds (~$20M), elevated inventory/working capital carrying costs into year‑end, segment pressure in fiber and certain industrial end markets, and some timing/recognition risk on recent price increases. Overall, the positive operational execution and financial improvements materially outweigh the near‑term headwinds.Company Guidance
Adjusted EBITDA Growth and Margin Expansion
Adjusted EBITDA improved approximately 25% year-over-year; adjusted EBITDA guidance updated to $615M–$635M (≈10%–13% YoY growth). Adjusted EBITDA margins expanded by more than 260 basis points year-over-year and by 110 basis points sequentially.
Strong Earnings Per Share Improvement
Adjusted EPS improved nearly 90% year-over-year driven by EBITDA improvement, lower interest costs and favorable quarterly taxes.
Cost Optimization Delivery and Target
Achieved a $90 million run-rate cost optimization milestone ahead of schedule and reiterated commitment to $120 million of annualized cost optimization on a run-rate basis by the end of next fiscal year.
Cash Generation and Free Cash Flow
Adjusted free cash flow for the quarter was $58 million; company expects full-year free cash flow conversion of approximately 50% and updated full-year free cash flow guidance of $305M–$325M.
Balance Sheet Strength and Leverage Reduction
Reduced leverage to approximately 1.1x; management expects leverage to remain below 2.0x and believes below 1.5x is realistic in the near term.
Capital Allocation — Shareholder Returns
Completed a $150 million share repurchase earlier in the year, announced an additional $150 million repurchase authorization, and increased the recurring dividend by 10.7%.
Segment Operational Wins — Polymer and Closures
Polymer Solutions volumes increased ~1.5% with positive price/cost and structural cost optimization driving gross profit dollars and percent higher. Closures showed third-party demand growth in the mid-single digits and total volumes grew in the high-single digits, with improved price/mix and cost optimization.
Commercial Execution and New Logos
Management highlighted improved commercial execution (solution selling, new tools, Greif+ for existing customers) and continued new‑logo wins and investments behind attractive end markets (flavor & fragrance, pharma, agrochemical).
Strategic M&A Tuck‑ins
Announced acquisition of Envaplast (small polymer container producer in Spain) aligned with tuck-in M&A strategy targeting companies with EBITDA margins >18% and free cash flow conversion >50%; management expects continued bolt‑on activity.
High Operating Rates in Fiber
Mill operating rates reported at 96%, and April/June fiber price increases ($60/ton each) are beginning to flow into P&L, supporting improving fiber margins heading into Q4.
DE:GR3 Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed