Canada's GFL Environmental Q3 revenue jumps 27% on acquisitions, lifts 2026 outlook

Overview

• Canada environmental services firm's Q3 revenue rose 27.2% yr/yr, with 7.4% organic growth

• Q3 adjusted EBITDA increased 26.8% yr/yr

• Company raised full-year 2026 guidance for revenue, adjusted EBITDA and free cash flow

Outlook

• GFL raises 2026 revenue guidance to C$8.06 bln to C$8.08 bln from prior C$7.51 bln to C$7.53 bln

• Company expects 2026 adj EBITDA of C$2.49 bln to C$2.50 bln, up from prior C$2.29 bln

• GFL forecasts 2026 adj free cash flow of C$1.02 bln, up from prior C$900 mln

Result Drivers

• ORGANIC GROWTH - Co said 7.4% organic revenue growth and margin expansion drove Q3 results

• ACQUISITIONS - Co said completed acquisitions contributed to revenue growth

• OPERATIONAL EFFICIENCIES - Co cited operational efficiencies and cost synergies as supporting margin improvement

Company press release:

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 11 "strong buy" or "buy", 2 "hold" and 2 "sell" or "strong sell"

• Wall Street's median 12-month price target for GFL Environmental Inc. is C$67.00, about 5.9% above its October 27 closing price of C$63.27

• The stock recently traded at 55 times the next 12-month earnings vs. a P/E of 49 three months ago

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)