GFL Environmental Raises Full Year Guidance Following Revenue Growth
The waste management company reported organic revenue growth of 6.4%, which accelerated sequentially by 180 basis points
GFL Environmental Inc. (GFL) raised its full year 2026 guidance for the second time this year, now projecting mid-to-high teens growth across key financial metrics. The company, a waste management provider, reported second quarter results that exceeded expectations for revenue, adjusted EBITDA and adjusted free cash flow.
Top-line growth reached 16.3% for the quarter, with 6.1% of that increase stemming from core pricing. Organic revenue growth was 6.4%, an acceleration of 180 basis points compared to the previous sequence. Adjusted EBITDA rose 14.8% to 591.2 million. The company said the underlying adjusted EBITDA margin expanded 125 basis points, excluding the effects of diesel prices, commodities and M&A.
Acquisition activity contributed significantly to the company's scale. Completed acquisitions year-to-date are generating between 435.0 million and 460.0 million in annualized revenue. In the three months ended June 30, 2026, GFL spent 1.34 billion on business acquisitions and investments, net of cash acquired.
Despite the adjusted figures, the company reported a net loss from continuing operations of 162.6 million for the quarter. This followed a net loss of 381.8 million for the six months ended June 30, 2026. Adjusted net income from continuing operations for the second quarter was 67.8 million.
Cash flow from operating activities for the three months ended June 30, 2026, was 417.3 million. The company's balance sheet showed total assets of 21.5 billion as of June 30, 2026, up from 19.2 billion at the end of 2025. Long-term debt increased to 9.6 billion from 7.4 billion during the same period.
Looking forward, GFL is pursuing the acquisition of SECURE Waste, which received shareholder approval in May and is currently undergoing regulatory review. The company expects to close the transaction in the latter part of 2026 and intends to provide an updated outlook as the closing date approaches. Additionally, the company said it recently received unsolicited preliminary expressions of interest from multiple parties to take the company private.