Canada's GFL Environmental Q3 revenue rises, lifts 2026 outlook

Overview

• Canada environmental services firm's Q3 revenue rose 27% yr/yr to C$2.16 bln

• 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–C$8.08 bln from C$7.51 bln–C$7.53 bln

• Company lifts 2026 adj EBITDA outlook to C$2.49 bln–C$2.50 bln from C$2.29 bln

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

Result Drivers

• ORGANIC GROWTH - Co said Q3 organic revenue grew 7.4% and underlying margin expanded by 115 basis points

• CORE PRICING - Core pricing contributed 5.7% to Q3 revenue growth, per co

• ACQUISITIONS - Co said completed acquisitions year-to-date generated about C$2 bln in annualized revenue

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.)