GFL Environmental Inc. · GFL · FY2026 Q3 · Calendar Q4 2026
GFL raises 2026 guidance as SECURE synergies lift Q3
GFL's Q3 results support the view that resilient demand, pricing tools, and acquired growth can drive earnings expansion, but the thesis depends on sustained pricing, fuel-cost recovery, and disciplined capital allocation.
Earnings scorecard
Reported versus consensusMarket reaction
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Transcript intelligence
What changed
The SECURE acquisition closed and produced early synergies; Q3 margins expanded, 2026 guidance was raised, and management highlighted a strategic review that could lead to a go-private transaction.
Guidance delta
Management raised 2026 guidance to $8.06-$8.08 billion of revenue and a 30.9% adjusted EBITDA margin.
Key takeaways
- Q3 revenue grew 27% year over year and adjusted EBITDA margin reached a record 31.5%.
- SECURE contributed $150 million of revenue and $50 million of EBITDA for the quarter, with integration delivering early cost synergies.
- Fuel inflation remains a material headwind, while surcharges and pricing initiatives are expected to recover most of the impact.
Management priorities
- Integrate SECURE and capture the remaining cost-synergy opportunity.
- Invest in RNG, EPR initiatives, and organic growth while pursuing disciplined acquisitions.
- Use pricing and contract-management tools to improve revenue capture and support margin expansion.
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Try FN2 freeCompany context
Snapshot as of publicationGFL Environmental Inc. functions as a multifaceted environmental services provider with operations spanning Canada and the United States. The company's core offerings encompass three distinct areas: managing non-hazardous solid waste, undertaking infrastructure and soil cleanup projects, and handling various types of liquid waste. Within its solid waste division, GFL handles every stage from collecting and transporting to transferring, recycling, and ultimately disposing of non-hazardous solid waste.…
Industrials peers this season
Latest reports in the same sector| Company | Quarter | EPS surprise | Market move | Headline |
|---|---|---|---|---|
| DRS Leonardo DRS, Inc. | FY2026 Q3 · Calendar Q4 2026 | +30.0% | +11.7% | Leonardo DRS raises FY26 outlook as backlog reaches $5.6 billion |
| TT Trane Technologies plc | FY2026 Q3 · Calendar Q4 2026 | — | -3.9% | Trane raises revenue outlook as HVAC and data-center demand stay strong |
| HWM Howmet Aerospace Inc. | FY2026 Q3 · Calendar Q4 2026 | — | +5.5% | Howmet Q3: Strong Demand, Higher Guidance, and Capacity Risk |
| EME EMCOR Group, Inc. | FY2026 Q3 · Calendar Q4 2026 | — | +1.6% | EMCOR raises 2026 outlook as data-center demand lifts RPO |
| LHX L3Harris Technologies, Inc. | FY2026 Q3 · Calendar Q4 2026 | — | +6.8% | L3Harris lifts guidance as backlog and cash flow accelerate |
| AOS A. O. Smith Corporation | FY2026 Q3 · Calendar Q4 2026 | — | +2.9% | A. O. Smith refocuses on North America as boilers lead growth |
Latest beats and misses
Who reports nextBeat on EPS
- ASXFY2026 Q3 · October 29, 2026+8.8% EPS+1.4% move
- KIM-PLFY2026 Q3 · October 29, 2026+101.6% EPS— move
- MRKFY2026 Q3 · October 29, 2026+19.1% EPS+3.8% move
- DRSFY2026 Q3 · October 29, 2026+30.0% EPS+11.7% move
- TYLFY2026 Q3 · October 28, 2026+1.1% EPS+3.6% move
- EHCFY2026 Q3 · October 28, 2026+11.8% EPS+7.7% move
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Sources
- Earnings call transcript and parsed analysis · 2026-10-29T18:07:25.323548+00:00
- FN2 earnings calendar · 2026-10-30T01:23:13.979536+00:00
- Polygon adjusted daily market bars · 2026-10-30T02:10:43.246767+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-10-30T02:10:43.244059+00:00
Methodology
Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.
Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.
By FN2 Research · Updated · As of 2026-10-30. For educational purposes only; not investment advice.