GFL Environmental Prices $1B Senior Notes Offering at 5.5% Due 2034
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jan 13 2026
0mins
Should l Buy GFL?
Source: seekingalpha
- Financing Scale: GFL Environmental announced the pricing of $1 billion in 5.5% senior notes due 2034, reflecting the company's capital market capabilities and investor confidence.
- Use of Proceeds: The proceeds from this notes offering will be used to repay amounts drawn on its revolving credit facility and for general corporate purposes, aiming to optimize capital structure and enhance financial flexibility to support future business growth.
- Impact Assessment: GFL expects the notes offering to have an immaterial impact on the company's borrowing rate and to be leverage neutral, indicating a robust strategy in managing financial risks.
- Subsidiary Guarantee: The notes will be issued by a wholly owned subsidiary of GFL and guaranteed by GFL and certain of its other subsidiaries, enhancing investor confidence in the security of the notes.
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Analyst Views on GFL
Wall Street analysts forecast GFL stock price to rise
15 Analyst Rating
11 Buy
4 Hold
0 Sell
Moderate Buy
Current: 41.330
Low
34.03
Averages
55.30
High
64.06
Current: 41.330
Low
34.03
Averages
55.30
High
64.06
About GFL
GFL Environmental Inc. is a Canada-based diversified environmental services company. The Company is engaged in offering solid waste management, liquid waste management, and soil remediation services, including collection, transportation, transfer, recycling and disposal services. Its facilities type consists of convenience sites, landfills, material recovery facilities, organic processing, soil remediation sites and transfer stations. It has operations across Canada and the United States. The Company offers its services to municipal, residential, and commercial and industrial customers.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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- Sales Growth: The company achieved quarterly sales of $1.209 billion, exceeding the analyst estimate of $1.190 billion, reflecting strong market performance and sustained customer demand.
- Optimistic Outlook: GFL projects FY2026 sales between $7.000 billion and $7.140 billion, slightly above the market estimate of $7.070 billion, demonstrating confidence in future growth and effective strategic planning.
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- Headquarters Relocation: GFL Environmental is relocating its executive headquarters to the U.S., a strategic move aimed at optimizing operational efficiency and enhancing competitiveness in the North American market, which is expected to support future growth initiatives.
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- Shared Services Centers Retained: Despite the relocation, GFL will maintain its shared services hubs in Vaughan, Ontario and Raleigh, North Carolina, ensuring operational continuity and efficiency.
See More
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- Service Centers Retained: Despite the headquarters relocation, GFL will maintain its shared services hubs in Vaughan, Ontario and Raleigh, North Carolina, ensuring continuity and efficiency in its operations.
See More
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- Earnings Beat: GFL Environmental reported Q4 earnings of $0.26 per share, surpassing the analyst consensus of $0.14, indicating a significant improvement in profitability and boosting investor confidence.
- Sales Growth: The company achieved quarterly sales of $1.209 billion, exceeding the analyst estimate of $1.190 billion, reflecting strong market performance and sustained customer demand.
- Optimistic Outlook: GFL projects FY2026 sales between $7.000 billion and $7.140 billion, slightly above the market estimate of $7.070 billion, demonstrating confidence in future growth and effective strategic planning.
- Analyst Rating Adjustments: Several analysts revised their price targets for GFL, with Barclays raising its target from $62 to $63, indicating a positive outlook on the company's future performance.
See More
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- Earnings Highlights: GFL Environmental reported a Q4 2025 non-GAAP EPS of C$0.36, indicating stable profitability despite market challenges, which is crucial for maintaining investor confidence.
- Revenue Growth: The company achieved revenue of C$1.69 billion in Q4, reflecting a year-over-year increase of 7.6%, showcasing sustained demand in the environmental services sector and an expanding market share.
- Headquarters Relocation: GFL Environmental is relocating its executive headquarters to the U.S., a strategic move aimed at optimizing operational efficiency and enhancing competitiveness in the North American market, which is expected to support future growth initiatives.
- Quant Rating: Seeking Alpha's Quant Rating on GFL Environmental indicates market confidence in its future performance, further solidifying investor optimism regarding the company's long-term growth potential.
See More
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- Earnings Announcement: GFL Environmental is set to announce its Q4 2023 earnings on February 11 after market close, with a consensus EPS estimate of $0.14, reflecting a significant year-over-year increase of 126.9%, indicating a strong potential for profitability improvement.
- Revenue Expectations: Despite the optimistic EPS outlook, the revenue estimate stands at $1.24 billion, representing a 37.7% year-over-year decline, which highlights challenges the company faces in the current market environment that could impact its overall financial health.
- Historical Performance: Over the past two years, GFL has beaten EPS estimates 88% of the time and has exceeded revenue estimates 100% of the time, demonstrating the company's reliability in financial forecasting and adaptability in the market.
- Estimate Revision Trends: In the last three months, EPS estimates have seen three upward revisions and seven downward revisions, while revenue estimates experienced twelve upward revisions and two downward revisions, indicating analyst divergence on the company's future performance and market uncertainty.
See More
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- Strong Banking Sector Performance: Banking and savings stocks collectively rose by approximately 3.1%, indicating a renewed market confidence in the financial sector, which may attract more investor interest in this area.
- ServisFirst Bancshares Leads Gains: ServisFirst Bancshares saw its stock price increase by about 13.1%, making it one of the best performers of the day, reflecting strong market performance and positive investor sentiment.
- Dime Community Bancshares Follows Suit: Dime Community Bancshares' stock rose by approximately 12.4%, indicating significant market recognition for the company in the competitive banking industry, potentially driving its future growth prospects.
- Industry Trend Analysis: With the strong rebound in banking stocks, investors may reassess investment opportunities in the financial sector, especially against the backdrop of economic recovery, where banking profitability is expected to further improve.
See More
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- Headquarters Relocation: GFL Environmental has moved its headquarters from Vaughan, Ontario to Miami, Florida, aiming to broaden its investor base in the U.S. and enhance visibility in both U.S. and Canadian equity indices.
- Revenue Growth: The U.S. now accounts for over two-thirds of GFL's revenue, with more than half generated from the rapidly growing Southeastern region, and this relocation is expected to strengthen its market presence.
- Talent Attraction Improvement: The move to the U.S. is anticipated to enhance GFL's ability to attract highly skilled talent from the Southeastern labor market, which is expected to drive future business growth.
- Shared Services Centers Retained: Despite the relocation, GFL will maintain its shared services hubs in Vaughan, Ontario and Raleigh, North Carolina, ensuring operational continuity and efficiency.
See More
GFL Environmental Relocates Headquarters to Miami, Expands Shareholder Base
- Headquarters Relocation: GFL Environmental has moved its headquarters from Vaughan, Ontario to Miami Beach, Florida, aiming to broaden its investor base in the U.S. equity markets while maintaining its listing eligibility in Canada, which is expected to enhance the company's visibility among global investors.
- Market Expansion: The U.S. now accounts for over two-thirds of GFL's revenue, particularly in the rapidly growing Southeastern region, and this relocation is anticipated to strengthen its competitive position in that market while attracting more skilled talent from the U.S.
- Shareholder Base Growth: The move allows GFL to participate in major U.S. indices while retaining eligibility for Canadian indices, which is expected to draw in more investors and ultimately expand its shareholder base.
- Service Centers Retained: Despite the headquarters relocation, GFL will maintain its shared services hubs in Vaughan, Ontario and Raleigh, North Carolina, ensuring continuity and efficiency in its operations.
See More
