GFL Environmental Inc. (GFL)

Shares of GFL Environmental (GFL) dropped by 3.74% from $29.93 to $28.81 in the trading on Monday, November 06, 2023. The reason why GFL is down today is due to an open letter from ADW Capital Management, a significant shareholder. The letter expresses concern about GFL's stock valuation in the public markets, despite the company's financial progress. ADW Capital suggests that GFL should explore strategic options to maximize shareholder value, including selling the company, merging with a larger waste management firm, or divesting assets. The letter highlights that GFL's strong financial performance is not reflected in its stock's valuation multiple, and it urges the board and management to engage a financial advisor for a strategic review.

Shares of GFL Environmental (GFL) dropped by 3.59% from $30.95 to $29.84 in the trading on Tuesday, February 21, 2023. The reason why GFL is down today is due to the release of the company's fourth quarter 2022 results:

• GFL reported strong organic revenue growth of 13.7%, leading to a 26.5% increase in revenue.
• Solid Waste pricing increased by 9.9%, along with record-high surcharges of 1.6%.
• Adjusted EBITDA grew by 17.0%, reaching $439.8 million. However, there was a net loss from continuing operations of $219.1 million.
• For the full year 2022, GFL reported substantial growth, with increased revenue, Adjusted EBITDA, and completed acquisitions generating $480.0 million in annualized revenue. GFL also provided guidance for full year 2023:
• Revenue is estimated to be between $7,550 million and $7,650 million.
• Adjusted EBITDA is expected to range from $2,000 million to $2,050 million.
• Adjusted Free Cash Flow is estimated to be approximately $700 million. Despite the positive financial performance and outlook, the stock price experienced a decline, possibly due to market sentiment and investor reactions on that particular trading day.