Gfl Environmental Inc Stock Price, News & Analysis

GFL Environmental reported strong Q4 and full-year 2024 results, with Q4 revenue of $1,985.9M (up 8.2% excluding divestitures) and full-year revenue of $7,862.0M (up 8.8% excluding divestitures). The company's Q4 Adjusted EBITDA increased 17.4% to $577.8M, with margin expansion of 300 basis points.

For full-year 2024, GFL posted an Adjusted EBITDA of $2,250.5M (up 12.3%) and Adjusted Net Income of $321.3M, though recording a net loss of $737.7M. The company announced the sale of its Environmental Services business at an $8B valuation, expected to close March 1, 2025.

Looking ahead to 2025, GFL projects revenue of approximately $8,425M including Environmental Services, with Adjusted EBITDA estimated at $2,500M and Adjusted Free Cash Flow between $950M-$975M. The company expects to achieve Net Leverage of 3.6x by end of 2025.

GFL Environmental (NYSE: GFL) (TSX: GFL) has announced it will release its Q4 and full year 2024 financial results, along with 2025 guidance, after market close on February 24, 2025. The company will host an investor conference call on February 25, 2025, at 8:30 am Eastern Time.

Additionally, GFL will host its 2025 Investor Day on February 27, 2025, at the New York Stock Exchange. The event will begin at 9:00 am Eastern Time, featuring senior management presentations on growth strategies, capital allocation, sustainability initiatives, and financial objectives, followed by a Q&A session. The Investor Day is invitation-only, requiring registration for both in-person and virtual attendance.

GFL Environmental has announced an agreement to sell its Environmental Services business for an $8.0 billion enterprise value to Apollo Funds and BC Partners. The company will retain a 44% equity stake ($1.7 billion) in the business, with Apollo and BC each holding 28%. The transaction is expected to generate approximately $6.2 billion in net cash proceeds.

The company plans to use up to $3.75 billion to repay debt and allocate up to $2.25 billion for share repurchases. This strategic move is expected to reduce Net Leverage to 3.0x and decrease annualized cash interest by about $200 million. GFL will maintain an option to repurchase the Environmental Services business within five years of closing.

The transaction, expected to close in Q1 2025, was unanimously approved by GFL's board and received a fairness opinion from Canaccord Genuity Corp.

GFL Environmental announced a quarterly cash dividend of US$0.014 per share for both subordinate voting shares and multiple voting shares for Q4 2024. The dividend will be paid on January 31, 2025 to shareholders of record as of January 13, 2025. The company has designated this as an eligible dividend under the Income Tax Act (Canada). This announcement demonstrates GFL's commitment to returning value to shareholders through regular dividend payments.

GFL Environmental reported strong Q3 2024 results with revenue of $2,014.7 million, up 9.3% excluding divestitures. The company achieved its highest-ever Adjusted EBITDA margin of 31.1%, a 300 basis point increase year-over-year. Net income reached $110.6 million, compared to $18.3 million in Q3 2023. Solid Waste revenue was $1,554.2 million with 6.0% core pricing growth. The company's Environmental Services sale process is progressing with expected net proceeds of at least $6 billion. GFL maintained its 2024 guidance and announced a planned COO transition effective January 2025.

Patrick Dovigi, Chairman, President and CEO of GFL Environmental, announced an internal reorganization of the Dovigi Group's holdings of multiple voting shares (MVS) on October 31, 2024. The reorganization involved the Dovigi Group's holdings, which includes Mr. Dovigi, his family members, and discretionary trusts. The change was purely structural, with the Dovigi Group maintaining ownership of 11,812,964 MVS, representing 100% of outstanding MVS. The reorganization shifted from indirect ownership through holding entities to direct ownership and control, with no change in the total number of shares owned.

GFL Environmental Inc. (NYSE: GFL) (TSX: GFL) has announced the release date for its 2024 third quarter financial results. The company will release the results after market close on Wednesday, November 6, 2024, followed by an investor conference call on Thursday, November 7, 2024, at 8:30 am Eastern Time.

Investors can access the conference call through various methods:

• A live audio webcast on the company's Investors page at investors.gflenv.com
• Toll-free dial-in numbers: 1-833-950-0062 (Canada) or 1-833-470-1428 (United States)
• Access code: 836126

GFL encourages participants to pre-register for the call using a provided link, which will grant them immediate access to the call on the day of the event.

GFL Environmental Inc. (NYSE: GFL) (TSX: GFL) and OPAL Fuels Inc. (Nasdaq: OPAL) have announced the commencement of commercial operations at their second renewable natural gas (RNG) facility through their joint venture, Paragon RNG. The facility, located at the Sampson County Landfill in Roseboro, North Carolina, is now producing and injecting pipeline-quality RNG.

The Sampson RNG facility has a nameplate design capacity of approximately 1.6 million MMbtu (12.4 million GGE) per year of RNG. When used as transportation fuel to replace diesel, this RNG can reduce fleet operating costs and avoid GHG emissions equivalent to achieving zero Scope 1 and Scope 2 emissions from more than 900 heavy-duty trucks.

This project marks OPAL Fuels' 10th operational plant, bringing their operating portfolio to approximately 7.8 million MMBtu of annual nameplate design capacity, more than tripling over the past 30 months.

GFL Environmental announced a quarterly cash dividend of US$0.014 per share for both outstanding subordinate voting shares and multiple voting shares. The dividend is for the third quarter of 2024 and will be paid on October 31, 2024 to shareholders of record as of the close of business on October 16, 2024. The company has designated this dividend as an eligible dividend under the Income Tax Act (Canada). This announcement demonstrates GFL's commitment to providing returns to its shareholders and maintaining its dividend policy.