)
Edge6 Mar 2026
Upvoted: The Story of Reddit
How Reddit built a unique platform around communities and conversation, turning human insight and intent into a distinctive business model.
GFL Environmental
GFL Environmental (GFL) investor relations material
GFL Environmental Q4 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q4 2025 earnings summary11 Feb, 2026
Executive summary
Achieved a record 30% Adjusted EBITDA margin in 2025, a 130 basis point increase over 2024, driven by operational efficiencies and pricing initiatives.
Q4 and full year 2025 revenue, Adjusted EBITDA, and Adjusted Free Cash Flow all exceeded expectations, with Q4 Adjusted EBITDA margin reaching 30.2%.
Completed the sale of the ES segment, transforming into a pure-play solid waste leader and simplifying the business.
Deployed nearly $1 billion to M&A and over $3 billion to share repurchases, resulting in the lowest year-end net leverage in company history at 3.4x.
Relocated executive headquarters to the U.S. to maximize index inclusion opportunities and broaden investor base.
Financial highlights
Q4 2025 revenue was $1,686.4 million, up 7.3% year-over-year, with 6.4% from core pricing.
Q4 Adjusted EBITDA was $508.7 million, up 11.1% year-over-year; Q4 Adjusted Free Cash Flow was $424.6 million.
Full-year Adjusted EBITDA was $1.985 billion; would have been ~$2 billion at constant FX, exceeding the high end of original guidance.
Adjusted Free Cash Flow was $425 million for Q4 and $756 million for 2025, with a 38% conversion rate.
Net leverage ended at 3.4x, or 3.1x excluding incremental share buybacks.
Outlook and guidance
2026 revenue expected at ~$7 billion ($7.14 billion constant currency), up 8% year-over-year.
Adjusted EBITDA for 2026 expected at $2.14 billion ($2.185 billion constant currency), up 10%, with margin expansion of 60 basis points to 30.6%.
Adjusted Free Cash Flow for 2026 guided to $835 million ($860 million constant currency), up 14%.
Net CapEx for 2026 projected at ~$800 million; cash interest at $395 million.
Committed to maintaining leverage in the low to mid-3x range, even with potential for $1.5-$2 billion in M&A.
M&A capacity without equity beyond $1B target
Impact of US index inclusion on shareholder base
RNG/EPR contribution vs. Investor Day plan
Partial view of Summaries dataset, powered by Quartr API
AI can get things wrong. Verify important information.Research faster. Power your platform.
Next GFL Environmental earnings date
Q1 202630 Apr, 2026
GFL Environmental
Next GFL Environmental earnings date
Q1 202630 Apr, 2026
The essential earnings season companion
The #1 app for qualitative research. Live earnings calls, AI chat, transcripts, and more. All for free.
Live calls and transcripts
Listen to earnings calls, CMDs, investor conferences, and more – with a podcast-like experience.
Find what you need faster
Search for any keyword across all transcripts simultaneously.
Easily store key findings
Capturing important takeaways is as simple as it gets. Even during your lunch run or commute.
Your watchlist. Your dashboard.
Follow the companies that matter to you. Get a personalized feed with real-time updates.
Be the first to know
Set keyword alerts for any company, product, or competitor. Get notified the moment they're mentioned.
Consensus estimates
Access analyst consensus estimates, valuation multiples, and revenue segments splits.
All IR material in one place
The easiest way to stay updated during earnings season.
Global coverage
All events from public companies. Live and recorded.
Just click and listen
No webcast links. No manual registrations.
excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
)
Leroy DaleyApp Store
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
)
Eferix Drawings Google Play
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
anuj283App Store
excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
Leroy DaleyApp Store
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
Eferix Drawings Google Play
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
anuj283App Store
I can't remember the last time an app had such a positive impact on my investment process.
)
@ankurshah47_ x.com
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
Amina0781App Store
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
@theshortbearx.com
I can't remember the last time an app had such a positive impact on my investment process.
@ankurshah47_ x.com
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
Amina0781App Store
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
@theshortbearx.com
)
)
Frequently asked questions
How GFL Environmental is making money in the waste management industry
GFL Environmental is one of the largest waste management companies in North America, offering a range of services to customers in the municipal, commercial, and industrial sectors. The company generates revenue through a variety of channels, including waste collection and disposal, recycling, and remediation services.
Expanding through acquisitions
One of the key strategies that GFL Environmental has employed to grow its revenue base is expanding through acquisitions. The company has made several high-profile acquisitions in recent years, including the purchase of Waste Industries in 2019, which expanded its presence in the southeastern US.
GFL has also acquired smaller waste management companies in Canada and the US, allowing it to tap into new markets and diversify its revenue streams. Other publicly listed companies in the waste management space, such as Waste Management, Republic Services, and Stericycle, have also employed similar strategies to expand their reach and grow their revenue streams.
Diversification of revenue streams
Another important factor in GFL Environmental's revenue growth is its diversification of revenue streams. The company offers a range of waste management services, including waste collection and disposal, recycling, and remediation services, which helps to mitigate risks associated with fluctuations in individual markets. GFL has also expanded into new markets, such as liquid waste management and hazardous waste management, which provide additional sources of revenue.
Emphasis on sustainability
In addition to its core waste management services, GFL Environmental has also placed a strong emphasis on sustainability. The company has invested in new technologies and processes to reduce waste, increase recycling rates, and minimize its environmental impact. This has helped GFL to attract environmentally conscious customers and position itself as a leader in the industry. Along with GFL, Veolia and Suez, have also made sustainability a key priority.
Quartr provides global coverage of all investor relation material from public companies.
Mobile app: Research anytime, anywhere with the #1 app for live earnings calls, transcripts, analyst estimates, and more. All for free.
Desktop (Quartr Pro): The leading platform for qualitative research, used daily by top firms and financial institutions.
Quartr API: Build custom solutions powered by live earnings calls, live transcripts, filings and reports, slide presentations, and more.
Yes, the Quartr mobile app is free on both iOS and Android.
Yes. Quartr provides global, industry-leading live coverage of company events such as regular earnings calls, capital markets days, M&A announcements, and investor conferences. Live with zero delays. Just click and listen.
Yes, capturing important takeaways is as simple as it gets. Even during your lunch run or commute.
Yes. Follow the companies that matter to you. Get a personalized feed with real-time updates, a tailored earnings calendar, and instant alerts when earnings calls go live.
Yes. Set keyword alerts for any company, product, or competitor. Get notified the moment they're mentioned, regardless of who's talking.
Explore our global coverage