GFL Environmental Raises Full Year Guidance After Record First Quarter
The waste management provider increased its full-year Adjusted EBITDA guidance by $90 million to approximately $2,230 million.
GFL Environmental Inc. (GFL), a waste management provider, raised its full-year 2026 Adjusted EBITDA guidance to approximately $2,230 million. The company increased the previous forecast by $90 million based on the completion of eight acquisitions since the start of the year.
These acquisitions generated between $425.0 million and $450.0 million in annualized revenue. The company said these transactions densified its footprint across its North American platform.
First quarter Adjusted EBITDA rose 12.3% to $478.5 million. The company reported an Adjusted EBITDA margin of 29.1%, which it described as the highest first quarter margin in its history. This represented a 180 basis point increase over the same period in the prior year.
Top line growth reached 8.5% before considering foreign exchange headwinds. This growth included a 7.0% contribution from core pricing, which accelerated sequentially by 60 basis points.
Financial results for the quarter showed a net loss from continuing operations of $219.2 million. Adjusted net income from continuing operations was $29.5 million.
Long-term debt increased to $9,375.1 million from $7,422.6 million in the prior year period. During the first quarter, the company issued $3,016.7 million in long-term debt and repaid $1,208.5 million.
GFL expects to close the acquisition of SECURE Waste in the latter half of the year. The company stated that the current raised guidance does not include any upside from this transaction.