GFL Environmental Reports Net Loss of 375.5 Million Canadian Dollars
The non-hazardous solid waste management provider saw six-month revenue rise to 3,591.6 million Canadian dollars.
GFL Environmental Inc. (GFL), a provider of non-hazardous solid waste management services, reported a net loss of 375.5 million Canadian dollars for the six months ended June 30, 2026. This followed a net income of 3,658.7 million Canadian dollars for the same period in 2025.
Revenue for the six-month period rose to 3,591.6 million Canadian dollars from 3,235.3 million Canadian dollars in the prior year. The company said results were impacted by acquisitions and organic growth driven by pricing strategies and volume changes. These gains were partially offset by labor wage rate pressures and inflationary pressures.
Operating expenses increased during the first half of 2026. Cost of sales rose to 2,906.0 million Canadian dollars from 2,575.8 million Canadian dollars in 2025. Selling, general and administrative expenses also climbed to 542.1 million Canadian dollars from 509.4 million Canadian dollars.
Foreign exchange movements contributed to the bottom-line volatility. The company recorded a 192.0 million Canadian dollar loss on foreign exchange for the six months ended June 30, 2026, compared to a 272.1 million Canadian dollar gain in the same period last year.
Debt and liabilities grew as the company expanded. Long-term debt rose to 9,599.2 million Canadian dollars from 7,422.6 million Canadian dollars. Landfill closure and post-closure obligations increased to 1,250.5 million Canadian dollars from 1,126.5 million Canadian dollars.
On the equity side, the company issued share capital of 156.4 million Canadian dollars upon the acquisition of a subsidiary. It also repurchased and cancelled shares valued at 14.3 million Canadian dollars during the six-month period.
GFL continues to execute a strategy focused on generating organic revenue growth and expanding its geographic footprint to increase regional density and margins. The company maintains an option to repurchase the remaining equity of GFL Environmental Services, a business line it divested on March 1, 2025, within five years of that closing date.