GFL Environmental’s $100 Million M&A Blitz Is Just Beginning—Could 2026 Be Their Breakout Year?

GFL Environmental Inc. reported solid operating performance for the second quarter of 2025, demonstrating financial resilience and strong operational execution despite facing several macroeconomic challenges. The company recorded a historically high adjusted EBITDA margin for a second quarter, reflective of its strategic initiatives and market positioning. Total revenue for the quarter was $1.675 billion, representing a 9.5% increase compared to the previous year when adjusted for divestitures. This growth was driven by better-than-expected pricing and volume, despite external headwinds, including fluctuations in commodity prices and unfavorable foreign exchange rates, which negatively impacted revenues by approximately $10 million.