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 announced the pricing of US$500 million in 4.000% senior notes due 2028, increasing from the initial US$400 million due to strong demand. The notes will be issued at 99.171%. Proceeds will redeem US$405 million of 7.000% senior notes due 2026 and cover related expenses, with any leftover funds used to pay down revolving credit. This offering is aimed at enhancing capital efficiency and improving the debt maturity profile.
GFL Environmental Inc. has announced a private offering of US$400 million in senior notes due 2028. The funds will be used to redeem existing US$405 million of senior notes due 2026 and cover associated costs. The offering is aimed at qualified institutional buyers and will not be registered under the Securities Act. GFL is a leading environmental services provider in North America, operating in Canada and 27 U.S. states.
GFL Environmental reported Q3 2020 revenue of $1,036.0 million, up 15.4% year-over-year, with an Adjusted EBITDA of $281.2 million, a 24.6% increase. The Adjusted EBITDA margin rose to 27.1%. Despite strong performance, the company suffered a net loss of $114.7 million. Solid waste operations saw 2.5% organic growth, largely due to the acquisition of Canada Fibers. GFL reduced borrowing costs with 3.750% senior secured notes. Cash flow from operating activities surged to $256.7 million, a 214.2% increase. However, challenges remain due to COVID-19 impacts on commercial activity.
GFL Environmental Inc. has successfully closed its acquisition of divestiture assets from Waste Management and Advanced Disposal, totaling US$863.5 million. This deal includes 34 collection operations, 36 transfer stations, and 18 landfills across 10 U.S. states, involving over 900 employees. The purchase was financed through a revolving credit facility and cash reserves. CEO Patrick Dovigi expressed optimism about the acquisition's potential to enhance GFL's operations and support future growth strategies.
GFL Environmental Inc. (NYSE: GFL) has declared a cash dividend of US$0.01 per share for the third quarter of 2020. This dividend will be paid on October 30, 2020 to shareholders recorded by the close of business on October 19, 2020. GFL, a leading environmental services company in North America, serves over 135,000 industrial customers and more than 4 million households, employing over 13,000 individuals across Canada and the United States. The dividend is classified as an eligible dividend under the Income Tax Act of Canada.
GFL Environmental Inc. (NYSE: GFL) will announce its third quarter 2020 financial results on November 4, 2020, after market close. The company will hold an investor conference call on November 5, 2020, at 8:30 AM Eastern Time, accessible via its investors page or toll-free numbers. GFL is a leading environmental services company in North America, serving over 135,000 commercial customers and delivering waste collection services to more than 4 million households.
GFL Environmental announced the successful acquisition of WCA Waste Corporation on October 1, 2020. The transaction was partly financed by a private placement of US$600 million in perpetual convertible preferred shares to HPS Investment Partners. This acquisition allows GFL to expand its operations across nine provinces in Canada and 27 states in the U.S. The preferred shares will be convertible into subordinate voting shares at a premium of approximately 20% above the current market price. GFL aims to integrate WCA’s operations and drive growth following this strategic acquisition.
GFL Environmental (NYSE: GFL) has secured a residential solid waste and recycling collection contract for the Niagara Region, starting October 19, 2020. This contract covers several towns including Grimsby, Lincoln, and others. To support this initiative, GFL is deploying 31 new compressed natural gas (CNG) trucks and hiring over 60 local employees. The company's focus on sustainability aligns with the Niagara Region’s environmental goals, emphasizing waste diversion and reducing carbon footprint.
On September 29, 2020, GFL Environmental announced that the U.S. Department of Justice approved its acquisition of WCA Waste Corporation for US$1.212 billion. This deal, expected to close on October 1, 2020, is a key milestone for GFL as it aims to expand its geographic presence in the U.S. through WCA's extensive network, which includes 37 collection operations, 27 transfer stations, and 22 landfills. GFL's CEO, Patrick Dovigi, highlighted the strategic importance of this acquisition for long-term shareholder value.
GFL Environmental Inc. has been awarded the 2020 Recycling Facility of the Year by the NWRA for its Material Recovery Facility in Winnipeg, Manitoba. This recognition highlights GFL's commitment to innovation, sustainability, and environmental impact. The Winnipeg MRF operates with approximately 90% automation and utilizes advanced technology, including a SamurAI™ sorting robot. It is projected to recover over 52,000 metric tons of material in 2020, preventing about 121,385 tonnes of CO2 emissions.