The following is a summary of the GFL Environmental Inc. (GFL) Q3 2024 Earnings Call Transcript:

Financial Performance:

• GFL Environmental reported strong Q3 2024 results with adjusted EBITDA growth nearly 20% and an EBITDA margin at a record 31.1%, a 300 basis point expansion year-over-year.

• Consolidated revenue for the quarter was $2.015 billion, reflecting an 11.3% growth in solid waste, excluding divestiture impacts.

• Net leverage reached a historic low at $4.05, demonstrating effective capital management and deleveraging efforts.

Business Progress:

• The company successfully handled operational challenges during two hurricanes with minimal disruptions, showcasing resilience and effective disaster management.

• Two new RNG plants were commissioned this quarter, enhancing sustainable operations.

• Advanced in M&A strategy, spending $47 million on three tuck-in acquisitions, with a robust pipeline for future growth.

Opportunities:

• Continuing to focus on solid waste and environmental services, with significant investment in recycling and RNG infrastructure set to drive future growth.

• Expected benefits from Extended Producer Responsibility (EPR) related contracts and regulatory tailwinds over the next 24 months, providing a favorable environment for revenue growth and sustainability initiatives.

Risks:

• Volatility in commodity and energy prices, which impacted revenue from sales of commodities and fuel surcharges.

• Market competition and economic fluctuations potentially affecting consumer and commercial demand.

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