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.
GFL Environmental Inc. has won the NWRA 2022 Recycling Facility of the Year award for its Multi Material Recovery Campus in Toronto, Ontario. This recognition highlights GFL's commitment to innovation, partnership, public education, and environmental impact. The Toronto campus features two highly advanced MRFs that operate continuously, handling the recycling needs of about 4 million households. Since 2010, it has processed over 3.5 million tons of material. GFL is the fourth largest environmental services company in North America, employing over 19,000 people.
GFL Environmental reported a 40.4% revenue increase to $1,707.5 million in Q2 2022, fueled by 13.5% organic growth. Adjusted EBITDA rose by 34.2% to $453.3 million, with a margin of 26.5%. Solid Waste prices surged by 7.3% and surcharges by 1.9%, marking record highs. Net income reached $82.6 million. The company completed 28 acquisitions this year, contributing approximately $360 million in annualized revenue. GFL has increased its full-year revenue guidance by $375 million, anticipating continued growth despite inflation and cost pressures.
GFL Environmental Inc. (NYSE: GFL) has declared a cash dividend of US$0.012 per share for Q2 2022, effective for both subordinate and multiple voting shares. The dividend will be distributed on July 29, 2022, to shareholders on record as of July 18, 2022. This dividend is classified as an eligible dividend under the Canadian Income Tax Act. GFL is the fourth largest diversified environmental services company in North America, employing over 18,000 individuals.
On May 24, 2022, GFL Environmental held its inaugural Investor Day in New York City, detailing strategic initiatives since its IPO in March 2020. The Company reaffirmed its 2022 full-year guidance and outlined three potential growth scenarios for 2022-2025, focusing on debt reduction and acquisitions funded by adjusted free cash flow. GFL targets an organic revenue growth of 5% annually, with anticipated adjusted EBITDA margin expansion. By 2026, adjusted free cash flow could range from $1,050 million to $1,350 million, demonstrating its commitment to growth and sustainability.
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.