The earnings call highlighted GFL's strong financial performance with record EBITDA margins and increased pricing guidance, despite facing challenges from FX and commodity price headwinds. The strategic M&A activity and revenue growth further emphasize the company's positive trajectory.

Company Guidance -

Q3 2025

During the GFL Second Quarter 2025 Earnings Call, the company provided updated guidance, indicating stronger-than-anticipated financial performance despite facing external headwinds such as unfavorable forex rates and commodity price movements. GFL achieved an adjusted EBITDA margin of 34.7% in Q2, marking the highest in its history for this period, and increased its annual pricing guidance to over 5.5%. Volume growth was positive, accelerating by 150 basis points compared to Q1, driven by strategic growth investments and solid market selection. The company also reported a 230 basis point margin expansion year-over-year, attributing this to lower labor turnover and continued M&A synergy realization. GFL's adjusted EBITDA guidance was raised by $50 million, or 2.6%, before considering FX translation impacts, with expectations for adjusted EBITDA to reach between $1.95 billion and $1.975 billion. The company anticipates consolidated revenue of $6.55 billion to $6.75 billion for the year, reflecting a 1.7% increase over the original guidance on a constant currency basis.

Record Q2 EBITDA Margins

GFL achieved solid waste adjusted EBITDA margins of 34.7%, marking the highest Q2 in the company's history.

Pricing and Volume Exceed Expectations

Pricing and volume were higher than expected for the quarter, with pricing guidance increasing to over 5.5% for the year.

Strategic M&A Activity

GFL completed 3 small tuck-in acquisitions and is anticipating closing 3 more, with a robust pipeline for future M&A activities.

Revenue Growth

Consolidated revenue for the quarter was $1.675 billion, a 9.5% increase compared to the prior year.

Adjusted EBITDA Guidance Increase

GFL increased its adjusted EBITDA target by $50 million or 2.6% before considering the translation impact of FX.

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

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TSE:GFL Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Oct 29, 2025	2025 (Q3)	0.22 / -	0.33	―	―	―
Aug 01, 2025	2025 (Q2)	0.18 / 0.26	0.29	-10.34% (-0.03)	―
Apr 30, 2025	2025 (Q1)	0.12 / -0.09	0	―	―
Feb 24, 2025	2024 (Q4)	0.22 / 0.22	0.05	340.00% (+0.17)	―
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)

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
Aug 01, 2025	C$68.73	C$69.17	+0.64%
Apr 30, 2025	C$68.77	C$69.00	+0.33%
Feb 24, 2025	C$65.56	C$62.95	-3.98%
Nov 06, 2024	C$60.69	C$63.03	+3.85%

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.