-- GFL Environmental (GFL.TO) rose 4.1% in after-hours New York trading after it reported a swing to an adjusted profit for its first quarter as revenue advanced, the company said after close on Wednesday.
The waste-management company, which is proposing to acquire Secure Waste Infrastructure (SES.TO), reported adjusted profit, which excludes most one-time items, of $29.5 million, or $0.08 per share, beating the consensus analyst estimate of $0.07 per share, according to FactSet. GFL reported an adjusted net loss of $34.5 million, or $0.09 per share, in the prior year period.
Quarterly revenue rose 5.4% to $1.64 billion over the same period, slightly above the $1.63 billion forecast.
GFL also updated its 2026 guidance to reflect the impact of acquisitions completed through April 1. Revenue is now estimated to between $320 million to $340 million higher, ranging between $7.32 billion to $7.34 billion.
Adjusted EBITDA is now expected to be $90 million higher, to $2.23 billion.
"Our increased guidance does not include any upside from our proposed acquisition of SECURE Waste, which we expect to close in the latter half of the year. We believe the acquisition of SECURE represents a unique opportunity for us to acquire a leading waste management provider in Western Canada, with a highly complementary network of hard to replicate permitted waste processing and disposal assets. The transaction reinforces our goal of creating long-term equity value for our shareholders and is expected to meaningfully accelerate the achievement of the multi-year financial targets we outlined at our 2025 Investor Day, significantly benefiting both GFL and SECURE shareholders," said chief executive Patrick Dovigi.
GFL shares were last seen up US$1.66 to US$42.00 after-hours. They closed up $0.33 to $55.21 on the Toronto Stock Exchange.