Jul 29, 2026 earnings call — Stronger margins and cost optimization
Adjusted EBITDA grew approximately 25%, and margins expanded by more than 260 basis points.
Revenue $1.2B (est $1.1B) · EPS $2.46 (est $1.11)
Key quotes
"Despite ongoing geopolitical disruption and an uneven demand environment, we delivered approximately 25% adjusted EBITDA growth, expanded margins by more than 260 basis points, achieved our $90 million run rate cost optimization milestone early and reduced leverage to just 1.1x."
"Equally important, we are continuing to win new customers, expand in attractive end markets and invest behind businesses where we see the best long-term opportunities."
"In addition to the $150 million share repurchase plan we completed earlier this year, we also announced a 10.7% increase to our recurring dividend, bringing our dividend yield to a compelling level."
Analyst Q&A 2
URB demand and price recognition
Q (Matthew Roberts · Raymond James): He asked how URB demand trended in July versus 3Q, whether there was any slowdown, and which areas drove the higher fiber volume outlook. He also asked how backlogs influence recognition of price increases that weren't recognized in July.
A: Management said mill operating rates are 96% and demand in the marketplace is strong. They said they do not think the fundamentals support RISI not recognizing the price and have not seen strong resistance from non-RISI contract customers, so they fully expect recognition. They also said they have not built that recognition into guidance.
"Like I said in my comments, we don't think the underlying fundamentals support RISI not recognizing the price." — Lawrence Hilsheimer (CFO)
regional demand, sales change, and acquisitions
Q (Joshua S. Vesely · Baird): He asked for regional demand color and whether volume improved month-to-month through 3Q, how the salesforce shift from farmers to hunters is progressing, and for an update on the M&A pipeline and cadence.
A: He said demand has improved globally in the last few months but from a very low base and he would not call it an inflection. He said the commercial changes are early but going very well: new structure, pay, training, solution selling, and tools like Greif+ so sales can focus on new logos. He said the focus is organic growth supplemented by tuck-in acquisitions, they announced Envaplast, have a healthy pipeline, expect to do a number of similar acquisitions a year, and are not pursuing transformative M&A.
"While demand has improved globally, it's from a very low base, I would say." — Ole Rosgaard (CEO)