GFL Environmental (GFL)
NYSE:GFL
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Earnings Data
Report Date
Jul 29, 2026After Close (Confirmed)
Period Ending
2026 (Q2)Consensus EPS Forecast
0.17Last Year’s EPS
0.19Same Quarter Last Year
Moderate Buy
Based on 17 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call was broadly positive: the company reported record first-quarter adjusted EBITDA margins, strong price realization (7% Q1 pricing), revenue growth of ~8.5% (pre-FX), underlying volume resilience excluding difficult prior-year comps, continued cost-efficiency gains, successful bond issuance and active M&A that led to an upward revision of full-year guidance. Offsetting items include temporary volume weakness in C&D and weather-related impacts, a near-term diesel cost spike that created a ~$10M headwind (to be largely recovered through surcharges), FX translational impacts on leverage, Q2 margin headwinds from commodities/fuel/M&A, and some investor pushback on the SECURE transaction and its near-term equity-market implications. On balance the company highlighted multiple levers for upside (commodity recovery, pricing retention, cost synergies and continued M&A), and management expects the headwinds to be manageable and largely recoverable.Company Guidance
Record Q1 Adjusted EBITDA Margin
Adjusted EBITDA margin expanded 180 basis points year-over-year to 29.1%, the highest first-quarter adjusted EBITDA margin in company history, with underlying consolidated Q1 margins up over 230 basis points excluding exogenous factors.
Revenue Growth and Strong Pricing
Q1 revenues grew 8.5% (before FX translational effects). Pricing was +7.0% for the quarter (Canada +8.5%, U.S. +6.3%), ~25 basis points better than plan, providing increased visibility to meeting or exceeding full-year pricing guidance.
Underlying Volume Resilience
Adjusted for lapping prior-year hurricane and one-time transfer station volumes, underlying volumes improved roughly 80 basis points year-over-year, driven by special waste and EPR activity despite outsized winter storms.
Cost Intensity Improvements
Cost of sales (ex D&A and integration) decreased 90 basis points to 60.7% of revenue; this marks the fifth consecutive quarter of year-over-year reductions in operational and SG&A cost intensity, driven by improved labor turnover, fleet optimization and procurement benefits.
Adjusted Free Cash Flow and Balance Sheet Actions
Adjusted free cash flow for the quarter was approximately $20 million ahead of plan. The company opportunistically issued $1.0 billion of bonds (significantly oversubscribed with one of the tightest spreads for its rating category) to support growth.
Active M&A and Guidance Uplift
Completed 8 acquisitions year-to-date (including Frontier Waste Solutions) which increased 2026 guidance by nearly 5%. Reported full-year 2026 guidance updated to revenue $7.32–7.34B, adjusted EBITDA $2.23B and adjusted free cash flow $850M; company still has a pipeline to deploy an incremental $300M–$500M this year.
SECURE Transaction Strategic Rationale and Synergy Potential
Proposed SECURE acquisition would add a hard-to-replicate Western Canada disposal network with expected 2026 revenue of $1.5–1.6B. Identified ~$25M of SG&A savings with an incremental $25M–$50M of operational/revenue synergies possible (total $25M–$75M), and management highlighted stable production-tied volumes (>80%) and strong structural tailwinds in the region.
Commodity Price Recovery Upside
Average commodity prices showed sequential increases and are now ~$15/ton higher than the initial 2026 outlook. Management noted a sensitivity where each $10/ton change in the gross basket price equates to ~$6M annual revenue and adjusted EBITDA, creating potential incremental upside if prices hold.
GFL Earnings History
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
GFL Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
May 01, 2026 | $38.50 | $37.71 | -2.05% |
Nov 07, 2025 | $42.93 | $43.77 | +1.96% |
Aug 01, 2025 | $49.73 | $50.44 | +1.45% |
Jul 30, 2025 | $47.55 | $50.28 | +5.76% |
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.
FAQ
When does GFL Environmental (GFL) report earnings?
GFL Environmental (GFL) is schdueled to report earning on Jul 29, 2026, After Close (Confirmed).
What is GFL Environmental (GFL) earnings time?
GFL Environmental (GFL) earnings time is at Jul 29, 2026, After Close (Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is GFL EPS forecast?
GFL EPS forecast for the fiscal quarter 2026 (Q2) is 0.17.
