GFL Environmental Reports Record Q3 Earnings

GFL Environmental Inc. reported third-quarter earnings of $0.24 per share, slightly surpassing expectations and maintaining the same earnings as the previous year, while revenues reached $1.48 billion, falling short of estimates. The company's Adjusted EBITDA margin hit a record 31.1%, reflecting strategic acquisitions and growth investments. GFL is in discussions to sell its Environmental Services business, anticipating net proceeds of at least C$6 billion ($4.3 billion), which will be used to reduce debt and potentially fund share buybacks. CEO Patrick Dovigi emphasized the company's strong financial performance and plans for continued growth, including $900 million earmarked for mergers and acquisitions. Year-to-date, GFL shares have risen about 21.7%, outperforming the S&P 500. The future outlook for GFL largely depends on management's commentary and the forthcoming sale of its environmental services unit.