The earnings call reflects a strong financial performance with record margins and successful capital allocation strategies, tempered by challenges in the Environmental Services segment and external factors like commodity price declines. The company's strategic initiatives, including potential divestitures and ongoing growth investments, indicate a positive outlook.

Company Guidance

During the GFL Environmental third-quarter 2024 earnings call, guidance emphasized substantial growth and operational achievements. The quarter featured a record adjusted EBITDA margin of 31.1%, marking a 300 basis point expansion over the previous year. This improvement was attributed to disciplined pricing, improved productivity, and synergy realization from acquisitions. The company is on track to deploy approximately $900 million in M&A and incremental growth investments in 2024, with $96 million already spent on recycling and RNG infrastructure. Additionally, GFL is evaluating the sale of its Environmental Services segment, which could generate at least $6 billion in after-tax proceeds, potentially allowing for at least $3.5 billion in debt repayment and stock buybacks. The company expects 2024 revenue of approximately $7.82 billion to $7.85 billion, with fiscal year adjusted EBITDA margin guidance increased to 28.6%, representing a 200 basis point improvement over 2023.

Record Adjusted EBITDA Growth

Achieved nearly 20% adjusted EBITDA growth with a record adjusted EBITDA margin of 31.1%, a 300 basis point expansion from the previous year.

Strong Solid Waste Revenue Performance

Solid waste revenue grew by 11.3% when excluding divestitures, with strong pricing efforts leading to a 6% increase in solid waste pricing.

Successful Capital Allocation Strategy

Deployed $96 million into growth investments, including recycling and RNG infrastructure, and $47 million into three tuck-in acquisitions.

Lowest Net Leverage in Company History

Ended the quarter with a net leverage of 4.05, the lowest ever for the company, demonstrating commitment to deleveraging targets.

Positive Outlook and Guidance Increase

Guidance for fiscal 2024 adjusted EBITDA margin increased for the third time this year to approximately 28.6%, indicating strong industry-leading performance.

---

GFL Environmental (TSE:GFL) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

Daily Earnings Calendar >

TSE:GFL Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Feb 25, 2025	2024 (Q4)	0.21 / -	0.05	―	―	―
Nov 06, 2024	2024 (Q3)	0.35 / 0.33	0.32	3.13% (+0.01)	―
Jul 31, 2024	2024 (Q2)	0.31 / 0.29	0.49	-40.82% (-0.20)	―
May 01, 2024	2024 (Q1)	-0.04 / 0.00	0.08	―
Feb 20, 2024	2023 (Q4)	0.22 / 0.05	-0.02	350.00% (+0.07)
Nov 01, 2023	2023 (Q3)	0.29 / 0.32	0.2	60.00% (+0.12)
Jul 26, 2023	2023 (Q2)	0.25 / 0.49	0.24	104.17% (+0.25)
Apr 27, 2023	2023 (Q1)	-0.04 / 0.08	0.06	33.33% (+0.02)
Feb 21, 2023	2022 (Q4)	0.09 / -0.02	0.07	-128.57% (-0.09)
Nov 02, 2022	2022 (Q3)	0.20 / 0.20	0.22	-9.09% (-0.02)

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

---

TSE:GFL Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Nov 06, 2024	C$60.75	C$63.09	+3.85%
Jul 31, 2024	C$53.55	C$55.58	+3.79%
May 01, 2024	C$43.75	C$45.73	+4.52%
Feb 20, 2024	C$49.20	C$47.84	-2.76%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.

---