GFL Environmental Inc. (GFL) Earnings Call Transcripts

GFL Environmental Inc.'s Latest Earnings Call - April 13, 2026

In Q1 2026, SECURE Waste Infrastructure Corp. (GFL:CA) announced a definitive agreement for GFL to acquire 100% of Secure's common shares for an enterprise value of approximately $6.4 billion. This acquisition is expected to be highly accretive, with a 27% increase in adjusted EBITDA and a 100 basis point increase in EBITDA margin to 31.6%. The transaction is leverage-neutral and expected to significantly enhance GFL's scale and financial metrics. Management indicated that the acquisition would accelerate the achievement of multiyear financial targets, including low to mid-30s adjusted EBITDA margins and a 48% free cash flow conversion by 2028. The acquisition is expected to be immediately accretive across key financial metrics and enhance opportunities for capital deployment, credit rating upgrades, and index inclusion.

Reported metrics

Guidance from management

Management plans to significantly update 2026 guidance with first-quarter results. The acquisition is expected to accelerate financial targets, including low to mid-30s adjusted EBITDA margins and a 48% free cash flow conversion by 2028.

What management said

Thank you, and good morning. I would like to welcome everyone to today's call, and thank you for joining us. Earlier today, GFL and Secure Waste Infrastructure Corp. jointly announced that we have entered into a definitive agreement for GFL to acquire 100% of Secure's common shares for an enterprise value of approximately $6.4 billion. We believe this is a highly compelling transaction for both GFL and Sakura share...

Thank you, Luke. I would just summarize by framing the acquisition as the following: A highly complementary business that significantly densifies our existing footprint in an attractive market in Western Canada. Immediately accretive across all key financial metrics provides enhanced scale and free cash and that improves opportunities for returns-focused capital deployment, credit rating upgrades and indexecution. I ...

What analysts pressed on

Analysts expressed concerns about the integration risk and the potential impact of commodity exposure on financial performance. Questions were raised about the Competition Bureau's approval process and the strategic rationale behind the timing of the acquisition.

Main topics on the call

• Acquisition Announcement — GFL announced the acquisition of Secure Waste Infrastructure Corp. for $6.4 billion, aiming to enhance its footprint in Western Canada. Patrick Dovigi stated, 'The acquisition is highly accretive across nearly every fina...
• Financial Impact — The acquisition is expected to increase adjusted EBITDA by 27% and adjusted EBITDA margin by 100 basis points to 31.6%. Free cash flow is projected to increase by approximately $300 million to over $1.135 billion.
• Integration and Synergies — Management highlighted low integration risk and identified $25 million in cost synergies, primarily from SG&A savings. Luke Pelosi noted, 'The opportunity could be upwards of 2 to 3x that when all said and done.'
• Strategic Rationale — The acquisition strengthens GFL's position in Western Canada, with Patrick Dovigi emphasizing, 'This is an asset that we've been looking at since the original divestiture packages of 2023.'

Read the full GFL Environmental Inc. transcript (April 13, 2026) → Summary generated from the call transcript; every figure above is stated by management on the record.

Earnings Call History

EarningsCalls.dev has 7 GFL Environmental Inc. earnings call transcripts on record, spanning July 31, 2025 to July 30, 2026. Based on this history, GFL Environmental Inc. reports quarterly. The most recent call on file is dated July 30, 2026. The full list is below — each row opens the complete, free-to-read transcript.

Ticker

GFL

Exchange

TSX

Country

CA

Sector

Industrials

Industry

Commercial Services and Supplies

Calls on record

7

First call

July 31, 2025

Most recent

July 30, 2026

Reporting cadence

quarterly