GFL Environmental Lifts Outlook, Says Multiple Parties Are Interested in Go-Private Deal

By Elias Schisgall

GFL Environmental said it has received overtures from multiple parties interested in taking the company private as it lifted its full-year outlook and reported higher revenue in the second quarter.

The company, which offers waste collection, recycling, soil remediation, and environmental services, said it had formed a special committee of independent directors to handle any discussions around a possible deal.

"We have recently received unsolicited preliminary expressions of interest from multiple parties to take the company private, as is often the case when there is a valuation disconnect," Chief Executive Officer Patrick Dovigi said. "There can be no guarantee that any expressions of interest will result in a transaction."

The company boosted its full-year guidance, based on a new assumed exchange rate between American and Canadian dollars of 1.40 compared with the earlier assumption of 1.36.

Full-year revenue is now projected between 7.51 billion and 7.53 billion Canadian dollars ($5.35 billion to $5.36 billion), up from a previous range of CAD7.32 billion to CAD7.34 billion. Analysts polled by FactSet expect full-year revenue of CAD7.38 billion.

The company reported a loss of CAD159.8 million or CAD0.47 a share. That compares with a profit of CAD261.8 million, or CAD0.66 a share, in the same period a year earlier.

Stripping out certain one-time items, adjusted earnings were CAD0.19 a share. Analysts were expecting CAD0.23 a share.

Revenue rose to CAD1.95 billion, up from CAD1.68 billion a year prior. Analysts were expecting CAD1.89 billion.

Write to Elias Schisgall at elias.schisgall@wsj.com

(END) Dow Jones Newswires

July 29, 2026 18:20 ET (22:20 GMT)