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GFL Environmental Inc. (NYSE: GFL, TSX: GFL) is a prominent environmental services company based in Vaughan, Ontario. As the fourth largest diversified environmental services company in North America, GFL offers a wide array of services including solid waste management, liquid waste management, and soil remediation. With over 140 strategically located facilities across Canada and Michigan, GFL provides essential services to more than 2.5 million households and over 80,000 industrial, commercial, and institutional customers.
GFL's core business lines include the collection, transportation, transfer, recycling, and disposal of non-hazardous solid waste, which generates the majority of their revenue. Their Environmental Services segment encompasses liquid waste management and soil remediation services. The company derives most of its revenue from operations in the United States, with significant activities also in Canada.
GFL is committed to sustainability and environmental responsibility. Recent projects include sustainability investments and the ongoing execution of a robust M&A strategy aimed at enhancing their market footprint. The company has recently announced growth capital expenditures focused on sustainability and accretive opportunities, with an expected deployment of up to $900 million in 2024. These investments are anticipated to generate substantial incremental Adjusted EBITDA starting from Q4 2024.
Financially, GFL is focused on disciplined capital allocation to achieve an investment-grade credit rating. They have outlined a clear strategy to de-lever the business and maintain a strong balance sheet. GFL's first Renewable Natural Gas (RNG) facility at Arbor Hills is now online, and several other RNG projects are projected to come online between Q4 2024 and 2026.
With a workforce of over 20,000 employees, GFL's unwavering commitment to safety, compliance, and customer service excellence sets them apart as a leader in the environmental services industry. Their comprehensive approach and ongoing innovation ensure they meet and exceed environmental and legislative requirements, fostering greater environmental responsibility within the communities they serve.
GFL Environmental Inc. (NYSE: GFL) has changed its auditor from Deloitte LLP to KPMG LLP effective August 20, 2021. The transition followed a comprehensive review process and a formal request for proposal to qualified firms. The Board of Directors supported this change, with no reportable events between GFL and Deloitte, which had no reservations in its audit reports. CFO Luke Pelosi expressed gratitude to Deloitte for its past support while looking forward to future collaborations on non-audit engagements. GFL is a leading environmental services company in North America.
GFL Environmental Inc. has successfully completed the acquisition of Terrapure Environmental Ltd.'s solid waste and environmental solutions business. This strategic move enhances GFL's operational capabilities and expands its service offerings across several markets. With a strong customer base and a high-quality asset network, the acquisition is expected to be immediately accretive to free cash flow. GFL CEO Patrick Dovigi emphasized the positive operational synergies and welcomed over 1,600 Terrapure employees into the GFL family.
GFL Environmental has successfully closed its upsized offering of US$550 million in 4.375% senior notes due 2029. The proceeds will be utilized for general corporate purposes, notably acquisitions. As the fourth largest environmental services company in North America, GFL operates in Canada and 27 U.S. states with a workforce exceeding 15,000 employees. The announcement contains forward-looking statements regarding the use of proceeds and future performance, subject to various risks and uncertainties.
GFL Environmental announced the pricing of US$550 million in senior notes due 2029, upsized from US$400 million due to high demand. The offering yields 4.375% and aims to finance general corporate purposes, including acquisitions. The notes will not be registered under the Securities Act and will be available only to qualified institutional buyers under Rule 144A. GFL is the fourth largest diversified environmental services company in North America, employing over 15,000 individuals.
GFL Environmental Inc. (NYSE: GFL) has announced a planned private offering of US$400 million in senior notes due 2029. The proceeds will be utilized for general corporate purposes, including potential acquisitions. The offering is subject to market conditions and is exclusively available to qualified institutional buyers under Rule 144A and Regulation S outside the United States. This offering will not be registered under the Securities Act of 1933 and is aimed at strengthening GFL's financial position as it operates as a leading environmental services company in North America.
GFL Environmental announced its Q2 2021 results, showcasing a 32.3% revenue increase to $1,314.3 million and a 35.0% rise in Adjusted EBITDA to $353.0 million. Net income reached $25.2 million, improving from a loss of $115.5 million in Q2 2020. The firm experienced strong solid waste pricing and volume growth, despite ongoing pandemic challenges. With nine acquisitions executed, GFL expects to enhance its full-year guidance, projecting revenue growth of 4-5% and an increase in Adjusted Free Cash Flow by nearly 10%, while it emphasizes sustainability through GFL Renewables.
GFL Environmental has announced a cash dividend of US$0.011 per subordinate and multiple voting share for Q2 2021. This dividend will be paid on July 30, 2021 to shareholders on record as of July 19, 2021. GFL, one of North America's largest environmental services firms, employs over 15,000 individuals and operates extensively throughout Canada and 27 U.S. states. The company has designated this dividend as an eligible dividend under the Canadian Income Tax Act, emphasizing its commitment to returning value to shareholders.
GFL Environmental Inc. (GFL) announced the formation of the Resource Recovery Alliance (RRA) to comply with Ontario's extended producer responsibility regulation regarding the Blue Box program. RRA will integrate with GFL's existing services and has a definitive agreement to acquire Canadian Stewardship Services Alliance (CSSA), enhancing its resource recovery capabilities in Ontario and North America. The acquisition is expected to close in Q3 2021, creating a comprehensive compliance solution for producers and leveraging GFL's extensive network and CSSA's expertise.
GFL Environmental Inc. (NYSE: GFL) announced it will release its 2021 second-quarter financial results on July 28, 2021, after market close. An investor conference call is scheduled for July 29, 2021, at 8:30 am Eastern Time. Participants can access the call via the Company's Investors page or by dialing in. GFL, based in Vaughan, Ontario, is the fourth largest diversified environmental services company in North America, operating across Canada and 27 U.S. states with over 15,000 employees.
GFL Environmental Inc. has successfully closed a US$750 million offering of 4.750% senior notes due 2029. The proceeds will be used to redeem US$360 million of its 8.500% Senior Notes due 2027 and cover related costs. The redemption is set for June 11, 2021. Remaining funds will address GFL's revolving credit facility and support general corporate purposes, including potential acquisitions. This strategic move aims to enhance GFL's financial stability and operational flexibility in the environmental services sector.
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