GFL(US:GFL)2025-05-02 21:00Revenue Performance - Revenue for Q1 2025 was $1,560.1 million, representing a 12.5% increase excluding divestitures and a 9.0% increase including divestitures [4]. - Revenue for the three months ended March 31, 2025, was $1,560.1 million, an increase of 8.9% from $1,431.8 million in the same period of 2024 [36]. - Organic revenue growth for the total segment was 5.6% for the three months ended March 31, 2025 [34]. - Core pricing contributed 5.7% to revenue growth, while positive volume added 0.9% [4]. Financial Metrics - Adjusted EBITDA increased by 13.8% to $426.1 million, with an Adjusted EBITDA margin of 27.3%, marking a 120 basis points increase over the prior year [5][10]. - Adjusted EBITDA for the same period was $426.1 million, up 13.8% from $374.4 million year-over-year, resulting in an adjusted EBITDA margin of 27.3% [36]. - Adjusted Free Cash Flow for Q1 2025 was $13.7 million, down from $16.4 million in Q1 2024, primarily due to increased cash capex [10][19]. - Cash flows from operating activities (excluding discontinued operations) were $103.9 million for the three months ended March 31, 2025, down from $192.2 million in the prior year [51]. - Adjusted cash flows from operating activities increased to $219.9 million, compared to $204.2 million in the same period of 2024 [51]. Net Loss and Income - The net loss from continuing operations was $213.9 million, compared to a net loss of $195.8 million in Q1 2024 [10]. - Net loss from continuing operations for the three months ended March 31, 2025, was $213.9 million, compared to a loss of $195.8 million in the same period of 2024 [25]. - Adjusted net loss from continuing operations was $34.5 million, improving from an adjusted loss of $47.8 million in the same quarter of 2024 [45]. - Total comprehensive income for the three months ended March 31, 2025, was $3,233.3 million, compared to a loss of $51.1 million in the same period of 2024 [25]. Debt and Leverage - Net Leverage improved to 3.1x, the lowest in the company's history, enhancing the path to an investment grade credit rating [3][5]. - Net leverage improved to 3.1x as of March 31, 2025, down from 4.1x at December 31, 2024, indicating a reduction in total long-term debt [38]. - The company had total long-term debt of $6,949.9 million as of March 31, 2025, down from $9,884.8 million at the end of 2024 [38]. Asset and Liability Changes - Total assets decreased to $19,472.2 million as of March 31, 2025, from $21,207.4 million as of December 31, 2024 [28]. - Total liabilities decreased to $11,183.8 million as of March 31, 2025, from $13,985.7 million as of December 31, 2024 [28]. - Cash balance increased to $537.2 million as of March 31, 2025, from $133.8 million as of December 31, 2024 [28]. Share Repurchase and Acquisitions - The company repurchased 31,725,083 subordinate voting shares, indicating a commitment to opportunistic share repurchases [3]. - The company completed acquisitions year-to-date that are expected to generate approximately $85.0 million in annualized revenue [5]. Other Notable Events - The divestiture of the Environmental Services business was completed on March 1, 2025, impacting revenue reporting [10]. - The company reported a gain on divestiture of $4,466.8 million for the three months ended March 31, 2025 [30]. - Incremental growth investments amounted to $86.6 million for the three months ended March 31, 2025, compared to $59.5 million in the prior year [51].