The earnings call presented a strong performance with record-high EBITDA margins and increased full-year guidance. Despite external challenges such as macroeconomic headwinds and unfavorable FX rates, the company demonstrated resilience and strategic execution. The success in pricing strategy, revenue growth, and M&A activities further underscored a positive outlook.

Company Guidance

During GFL's Second Quarter 2025 earnings call, the company updated its guidance for the year, highlighting several key metrics and performance indicators. GFL achieved solid waste adjusted EBITDA margins of 34.7%, marking the highest Q2 in the company's history. The company revised its pricing guidance to over 5.5% for the year, driven by higher-than-expected pricing and volume trends. Despite facing external headwinds such as unfavorable FX rates and commodity prices, GFL experienced a 230 basis point year-over-year margin expansion. Adjusted EBITDA guidance was increased by $50 million or 2.6% before considering FX translation impacts. The company also reported consolidated revenue of $1.675 billion for the quarter, a 9.5% increase from the previous year, with adjusted EBITDA margins expected to be just under 30% for the full year. Additionally, GFL completed three small tuck-in acquisitions during the quarter, with plans to close three more imminently, and expressed confidence in meeting or exceeding its M&A capital deployment targets for 2025 and beyond.

Record EBITDA Margins

Achieved the highest Q2 EBITDA margins in company history at 34.7%, demonstrating strong operational performance and strategic execution.

Increased Full-Year Guidance

Increased full-year adjusted EBITDA guidance by $50 million or 2.6% at constant currency, showcasing confidence in continued strong performance.

Strong Revenue Growth

Consolidated revenue for the quarter was $1.675 billion, 9.5% ahead of the prior year pro forma for divestitures. This was driven by higher-than-expected pricing and volume.

Successful M&A Strategy

Completed 3 small tuck-in acquisitions for the quarter and anticipate closing 3 more, with a robust pipeline setting up for exceptional growth in 2026.

Improved Pricing Strategy

Increased pricing guidance to over 5.5% for the year, with realized pricing of 5.8% in the quarter, 30 basis points ahead of plan.

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)	0.24 / -	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.