GFL Environmental (GFL) Company Report

GFL Environmental Inc. announced a public offering of 16,611,295 subordinate voting shares by selling shareholders.
The shares are being sold to underwriters at a purchase price of US $44.93 per share.
The underwriting agreement was dated November 20, 2025, with the closing date for delivery and payment scheduled for November 26, 2025.
A 60-day lock-up period applies to the selling shareholders, commencing from the underwriting agreement date.

Nov 24, 2025, 10:05 PM

6-K

GFL Environmental Announces Pricing of Secondary Offering and Share Repurchase

GFL

Share Buyback

GFL Environmental Inc. announced the pricing of a secondary offering of 16,611,295 subordinate voting shares by selling shareholders at US$45.15 per Share.
The selling shareholders include BCEC-GFL Borrower (Cayman) LP, Ontario Teachers' Pension Plan Board, GFL Borrower II (Cayman) LP, and entities affiliated with HPS Investment Partners, LLC.
Concurrently, GFL agreed to purchase for cancellation 1,275,000 Shares from RBC Dominion Securities Inc. under the offering.
This Secondary Offering Purchase was unanimously approved by GFL's board of directors, based on a recommendation from a special committee of independent directors.

Nov 21, 2025, 11:45 AM

Press Release

GFL Environmental Inc. Reports Q3 2025 Results with Revenue Growth and Significant Divestiture Proceeds

GFL

Earnings

M&A

Share Buyback

GFL Environmental Inc. reported revenue of $1,694.2 million for the three months ended September 30, 2025, an increase of 9.0% compared to the same period in 2024.
Adjusted EBITDA for Q3 2025 was $535.1 million, representing a 12.0% increase from Q3 2024.
Net income attributable to GFL Environmental Inc. for Q3 2025 was $114.3 million, with diluted income per share of $0.28. For the nine months ended September 30, 2025, net income attributable to GFL was $3,800.2 million, and diluted income per share was $9.87.
The company completed the divestiture of GFL Environmental Services on March 1, 2025, at an enterprise value of $8.0 billion, contributing to a $5,747.6 million increase in proceeds from divestitures in cash flows from investing activities for the nine months ended September 30, 2025.
GFL repurchased 5,132,657 subordinate voting shares during the three months ended September 30, 2025, and 16,221,573 shares during the nine months ended September 30, 2025, under its Normal Course Issuer Bid.

Nov 7, 2025, 10:00 PM

6-K

GFL Reports Record Q3 2025 Adjusted EBITDA Margin and Raises Full-Year Guidance

GFL

Earnings

Guidance Update

M&A

GFL achieved its highest adjusted EBITDA margin in company history at 31.6% in Q3 2025, with consolidated revenue growing 9% over the prior year, driven by 6.3% pricing and 100 basis points in positive volume.
The company raised its full-year 2025 guidance for the second time, now expecting revenue between $6.575 billion and $6.6 billion and adjusted EBITDA of about $1.975 billion, while adjusted free cash flow remains at $750 million.
GFL deployed nearly $650 million into acquisitions year-to-date and repurchased $350 million of shares in Q3, contributing to nearly $2.8 billion in share repurchases year-to-date.
The recapitalization of GIP valued it at $4.25 billion, with GFL receiving $200 million from the shareholder distribution and retaining a 30% equity stake.
For 2026, GFL anticipates an incremental 75 basis points of revenue growth from EPR and expects M&A spend to be 50% plus higher than 2025, projecting double-digit EBITDA growth.

Nov 6, 2025, 1:30 PM

Transcript

GFL Reports Strong Q3 2025 Results and Raises Full-Year Guidance

GFL

Earnings

Guidance Update

M&A

GFL reported strong Q3 2025 results, with consolidated revenue growing 9% and achieving its highest adjusted EBITDA margin at 31.6%.
The company raised its full-year 2025 guidance for the second time, now projecting revenue between $6.575 billion and $6.6 billion and adjusted EBITDA of approximately $1.975 billion.
GFL deployed nearly $650 million into acquisitions year-to-date and expects M&A activity in 2026 to be 50%+ higher than 2025.
Pricing for Q3 2025 accelerated to 6.3%, contributing to a full-year pricing expectation of around 6%, and 2026 pricing is anticipated to exceed an expected 4% cost inflation.
The company completed the recapitalization of GIP for $4.25 billion and bought back $2.8 billion-$2.9 billion in stock, while committing to maintain leverage in the low to mid-threes.

Nov 6, 2025, 1:30 PM

Transcript

GFL Environmental Inc. Reports Strong Q3 2025 Results and Raises Full Year Guidance

GFL

Earnings

Guidance Update

Share Buyback

GFL Environmental Inc. reported strong third quarter 2025 results, with revenue of $1,694.2 million and Adjusted EBITDA of $535.1 million, achieving a record-high Adjusted EBITDA margin of 31.6%.
The company raised its full year 2025 guidance for both revenue and Adjusted EBITDA for the second time this year, with revenue now estimated between $6,575 million and $6,600 million and Adjusted EBITDA estimated at $1,975 million.
GFL Environmental Inc. generated Adjusted Free Cash Flow of $180.5 million in Q3 2025 and completed $2.76 billion in share repurchases year-to-date, representing over 10% of issued and outstanding subordinate voting shares.
Year-to-date acquisitions have generated approximately $205.0 million in annualized revenue.

Nov 5, 2025, 9:10 PM

6-K

GFL Environmental Reports Strong Q3 2025 Results and Raises Full-Year Guidance

GFL

Earnings

Guidance Update

Share Buyback

GFL Environmental reported Q3 2025 revenue of $1,694.2 million, an increase of 9.0%, and Adjusted EBITDA of $535.1 million, up 12.0% from Q3 2024, achieving an Adjusted EBITDA margin of 31.6%, the highest in its history.
For the nine months ended September 30, 2025, revenue increased by 10.2% to $4,929.5 million, and Adjusted EBITDA grew by 13.4% to $1,476.3 million.
The company raised its full-year 2025 guidance for the second time, with estimated revenue between $6,575 million and $6,600 million and Adjusted EBITDA at $1,975 million.
GFL Environmental also reported 7.3% organic price and volume growth in Q3 2025 and year-to-date completed $2.76 billion in share repurchases, representing over 10% of issued and outstanding subordinate voting shares.

Nov 5, 2025, 9:05 PM

Press Release

GFL Environmental Q1 2025 Delivers Record EBITDA and Strategic Balance Sheet Actions

GFL

Earnings

M&A

Share Buyback

Q1 revenue reached approximately $1.56 billion, representing a 12.5% increase over the prior year and outperforming guidance, with a record high adjusted EBITDA margin despite challenging weather impacts.
The company used proceeds from its ES sale to repay over $3.5 billion of debt and execute over $2.5 billion in share buybacks, resulting in a historic net leverage of 3.1x.
Pricing strategies exceeded expectations with a 5.7% rate in Q1, supporting the robust pipeline and continued investment in tuck-in M&A, including the deployment of $240 million across three deals.
Updated Q2 guidance anticipates revenue of approximately $1.675 billion and adjusted EBITDA of around $505 million, reflecting continued operational momentum.

May 1, 2025, 12:31 PM

Transcript

GFL Environmental Inc. Reports Q1 2025 Results

GFL

Earnings

Revenue Acceleration/Inflection

Share Buyback

Revenue reached $1,560.1 million in Q1 2025 with a 12.5% increase excluding divestitures and 9.0% including divestitures .
Adjusted EBITDA grew by 13.8% to $426.1 million, with a record margin of 27.3% – the highest Q1 margin in company history .
The company reduced its Net Leverage to 3.1x, the lowest on record following the divestiture of its Environmental Services business .
GFL repurchased 31,725,083 subordinate voting shares and executed significant share buybacks, underscoring its commitment to shareholder value .

Apr 30, 2025, 12:00 AM

Press Release 6-K

GFL Environmental Resumes Share Repurchase Program

GFL

Share Buyback

TSX Approval: The TSX approved the resumption of GFL Environmental's normal course issuer bid, allowing a maximum repurchase of 28,046,256 subordinate voting shares, excluding previously repurchased shares from BC Partners and a secondary offering.
Repurchase Details: To date, 7,618,758 shares have been canceled, leaving 20,427,498 shares available for repurchase over a 12‑month period ending March 2, 2026, with transactions to be executed through TSX and NYSE trading systems.
6-K Filing Overview: The announcement, made on April 24, 2025 via a 6‑K filing, reflects a strategic move by management to resume share buybacks under favorable market conditions.

Apr 24, 2025, 12:00 AM

6-K

Earnings Transcripts

Quarterly earnings call transcripts for GFL Environmental.

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