GFL Environmental reports net loss of 215.7 million
The diversified environmental services provider saw revenue rise to 1,643.8 million for the first quarter ended March 31, 2026
GFL Environmental Inc. (GFL), the fourth largest diversified environmental services company in North America, reported a net loss attributable to the company of 215.7 million for the three months ended March 31, 2026. This followed a net income of 3,409.6 million for the same period in 2025, a result that included 3,620.8 million in net income from discontinued operations.
Revenue for the quarter rose to 1,643.8 million, up from 1,560.1 million in the prior-year period. The company's cost of sales increased to 1,344.0 million from 1,272.6 million. Selling, general and administrative expenses fell to 265.8 million from 286.2 million.
Financial results were impacted by a 93.7 million loss on foreign exchange, compared to a 5.7 million gain in the first quarter of 2025. Interest and other finance costs decreased to 139.6 million from 210.4 million. The company also recorded a 10.0 million change in value on a call option related to the divestiture of its Environmental Services line of business.
Loss from continuing operations for the quarter was 219.2 million, compared to 213.9 million in the prior-year period. Basic and diluted loss from continuing operations was 0.63 a share, compared to 0.58 a share in 2025.
Liquidity shifted significantly by the end of the first quarter. Cash holdings rose to 1,436.2 million as of March 31, 2026, compared to 85.6 million at December 31, 2025. Long-term debt increased to 9,375.1 million from 7,422.6 million over the same period.
Following the quarter end, GFL completed five acquisitions for a combined purchase price of approximately 1,437.6 million, using a combination of cash and subordinate voting shares. On April 12, 2026, the company entered into a definitive agreement to acquire all issued and outstanding common shares of SECURE Waste Infrastructure Corp. using cash and subordinate voting shares.