GFL Environmental reports Q2 adjusted EPS C$0.29, consensus C$0.31

Reports Q2 revenue C$2.06B, consensus C$2.06B. The company said, “Our exceptional start to this year can be attributed to the commitment of our over 20,000 employees who deliver consistent high-quality results and strive to make our business better every day. Our focus on strong execution generated better than anticipated financial metrics across the board, including volumes which saw a sequential improvement of 130 basis points. Price-led organic growth, together with our operating efficiencies and the positive margin impact of shedding low margin work, resulted in Adjusted EBITDA margin1 expansion of 90 basis points compared to the prior year period. As part of our deliberate volume strategies, we also accelerated our exit from a portfolio of residential collection contracts in Michigan that no longer met our return thresholds, in a sale that was completed at the end of Q2.”