Gfl Environmental Inc Stock Price, News & Analysis

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.

GFL Environmental Inc. (NYSE: GFL, TSX: GFL) filed its annual report on Form 40-F with the U.S. SEC and Canadian securities regulators, including audited consolidated financial statements for the year ending December 31, 2021. Available on GFL's investor website, the report reflects the company's status as North America's fourth largest diversified environmental services firm, employing over 18,000 personnel. Shareholders can request hard copies of the complete financial statements at no charge.

GFL Environmental reported a strong performance for Q4 2021 and the full year, with revenue increasing by 24.6% to $1.54 billion in Q4 and by 31.7% to $5.53 billion for the year. Adjusted EBITDA rose by 24.8% to $388.3 million in Q4 and by 35.9% to $1.46 billion annually. However, the company faced a net loss of $77.4 million in Q4 and $606.8 million for the year. GFL's 2022 guidance anticipates revenue between $6.27 and $6.37 billion, with adjusted EBITDA between $1.69 and $1.73 billion. Notably, GFL plans to divest its infrastructure services division for enhanced strategic focus.