GFL Beats Q3, Raises 2026 Guidance Third Time; Take-Private Bids Due Nov 9
GFL sits 31% above its 52-week low of $33.33.
Summary
GFL beat expectations across the board in Q3 2026: revenue rose 27.2% to $2,155.3 million, Adjusted EBITDA climbed 26.8% to $678.7 million, and Adjusted Free Cash Flow jumped to $272.5 million from $180.5 million a year ago. Organic revenue growth of 7.4% accelerated 100 basis points sequentially, and underlying Adjusted EBITDA margin expanded 115 basis points excluding M&A and diesel. The company raised full-year 2026 guidance for the third time this year, now pointing to revenue of roughly $8,055-8,075 million, Adjusted EBITDA of about $2,490-2,495 million, and Adjusted Free Cash Flow of about $1,020 million, up from prior guidance of $900 million. Separately, the Special Committee reviewing unsolicited take-private proposals set a final deadline of November 9, 2026 for updated bids — a hard date that puts a potential transaction on the near-term calendar. GAAP results were weaker, with a net loss from continuing operations of $28.0 million versus $90.4 million of income a year ago, driven largely by higher interest, depreciation and transaction costs from the SECURE acquisition closed September 1st, and pretax profit came in at CAD -11.4 million. The Board expanded to nine directors with SECURE nominee Joseph Lenz, a TPG partner who has served on SECURE's board since 2022. The earnings call is October 29th at 8:30 am ET.
Updated with an SEC 6-K filing · What changed
Updates
· SEC 6-K — GFL's Board expanded to nine directors with SECURE nominee Joseph Lenz, a TPG partner who has served on SECURE's board since 2022.
At the time of this announcement, GFL was trading at $43.59 on NYSE in the Industrial Applications And Services sector, with a market capitalization of approximately $19B. The 52-week trading range was $33.33 to $46.77. This news item was assessed with positive market sentiment and an importance score of 9 out of 10. Source: PR Newswire.