Welcome to our dedicated page for Gfl Environmental news (Ticker: GFL), a resource for investors and traders seeking the latest updates and insights on Gfl Environmental stock.
GFL Environmental Inc. provides environmental services in North America, with operations centered on non-hazardous solid waste collection, transfer, recycling and disposal. Its Environmental Services activities include liquid waste management and soil remediation, alongside a solid waste platform serving Canadian and U.S. markets.
Company news commonly covers operating results and guidance, acquisition activity that expands or densifies local waste-service networks, dividend declarations, share repurchase programs, capital-structure updates and shareholder governance matters. Recent corporate updates also include completed solid waste acquisitions such as Frontier Waste Solutions in Texas.
On May 18, 2022, GFL Environmental Inc. (NYSE: GFL) announced the positive results of its annual meeting of shareholders, where all proposed items were approved. Notably, each director nominee received overwhelming support, with votes ranging from 91.07% to 99.91% in favor. The company continues to expand its position as a leading environmental services provider in North America, employing over 18,000 people. Full voting results will be available on SEDAR and EDGAR.
GFL Environmental Inc. announced the acceptance of its normal course issuer bid (NCIB) by the TSX, which will run from May 12, 2022, to May 11, 2023. The company intends to repurchase up to 16,510,694 subordinate voting shares, representing 5% of its outstanding shares, through various market transactions. CEO Patrick Dovigi emphasized that the repurchase reflects the company's growth potential and is a strategic use of available cash. The decision will be weighed against other growth opportunities and financial guidelines.
GFL Environmental reported impressive first-quarter 2022 results, achieving revenue of $1,401.4 million, a 27.4% increase year-over-year. The company experienced organic revenue growth of 11.3%, driven by solid waste pricing and surcharges of 6.6%, marking the highest in its history. Adjusted EBITDA rose 19.0% to $354.4 million, with a margin of 25.3%. Net income improved significantly to $137.0 million, while free cash flow increased to $118.6 million. GFL also expanded its guidance for 2022, projecting revenue of $6,000-$6,100 million and adjusted EBITDA of $1,680-$1,720 million.
On May 3, 2022, Brown Gibbons Lang & Company announced the sale of Sprint Waste Services, LP to GFL Environmental Inc. Though specific terms of the transaction were not disclosed, this acquisition enables GFL to enhance its solid waste management footprint in the Southern United States. Sprint, a waste management provider based in Texas, operates 16 sites and boasts a fleet of over 400 vehicles, positioning GFL to integrate complementary assets and extend its service capabilities in North America.
GFL Environmental Inc. (NYSE: GFL, TSX: GFL) announced its acquisition of Sprint Waste Services, enhancing its solid waste footprint in the Southern United States. This acquisition includes 14 sites in Texas and two in Louisiana, supported by over 400 vehicles and 500 employees. The deal is part of GFL's growth strategy, contributing an estimated $300 million in annualized revenue. GFL has also undertaken 20 acquisitions this year and rationalized its balance sheet, raising $91 million from non-core divestitures. Overall, GFL aims to maintain its credit rating while expanding its market presence.
On April 25, 2022, GFL Environmental completed its spin-off of GFL Infrastructure Group to create Green Infrastructure Partners (GIP), a top Canadian infrastructure service provider. GIP acquired Coco Paving, enhancing its portfolio with over 250 aggregate sites and 33 asphalt plants. GFL received C$224 million in cash and a 45% stake in GIP, expecting annual revenues exceeding C$1.1 billion. CEO Patrick Dovigi emphasized the spin-off aims to rationalize the balance sheet and foster value creation for shareholders.
GFL Environmental Inc. (NYSE: GFL) has announced the opening of registration for its inaugural Investor Day, scheduled for May 24, 2022, in New York City. This event aims to provide insights into the Company's growth strategies, capital allocation, sustainability initiatives, and financial objectives. For those unable to attend in person, presentations will be available via live audio webcast. GFL is a leading environmental services provider in North America, employing over 18,000 individuals and offering a diverse range of waste management services.
GFL Environmental has reached an agreement with the Canadian Competition Bureau regarding its acquisition of Terrapure Environmental's solid waste and environmental services, completed on August 17, 2021. As part of the agreement, GFL will divest four liquid waste facilities and three tank farms in Western Canada, projected to generate approximately $20 million in annual revenue for 2022. This agreement resolves the Bureau's legal action against GFL, allowing the company to move forward with the divestiture promptly.
GFL Environmental has declared a 10% increase in its quarterly cash dividend for subordinate and multiple voting shares, rising from US$0.011 to US$0.012 per share. This dividend will be paid on April 29, 2022, to shareholders of record by April 18, 2022. The company has classified this dividend as an eligible dividend under the Canadian Income Tax Act. Headquartered in Vaughan, Ontario, GFL is a leading environmental services company with over 18,000 employees across North America.
GFL Environmental Inc. (GFL) announced a Consent Judgment with EGLE to address issues related to odor complaints at its Arbor Hills Landfill. Though the complaints predate GFL's acquisition, the company agreed to implement best odor management practices. GFL will undertake three environmental projects: a household hazardous waste drop-off program, a perimeter emissions monitoring system, and a vegetative barrier installation. This commitment aligns with GFL’s ongoing investment in landfill improvements, including a renewable natural gas facility aimed at converting landfill gas to renewable energy.