GFL Environmental Inc. (GFL) Q4 2024 Earnings Call Transcript

For the period ending December 31, 2024

February 25, 2025 8:30 a.m. ET

Prepared Remarks

Questions and Answers

Call Participants

Prepared Remarks:

Operator

Hello, everyone, and thank you for joining the GFL Fourth Quarter 2024 Earnings Call. My name is Marie, and I will be coordinating your call today. [Operator Instructions]

I will now hand over to your host, Patrick Dovigi, Founder and CEO, to begin. Please go ahead.

Patrick Dovigi

Thank you, and good morning. I would like to welcome everyone to today's call, and thank you for joining us. This morning, we will be reviewing our results for the fourth quarter and providing our guidance for 2025. I'm joined this morning by Luke Pelosi, our CFO, who will take us through our forward-looking disclaimer before we get into the details.

Luke Pelosi

Thank you, Patrick. Good morning, everyone, and thank you for joining. We have filed our earnings press release, which includes important information. The press release is available on our website.

During this call, we'll be making some forward-looking statements within the meaning of applicable Canadian and US securities laws, including statements regarding events or developments that we believe or anticipate may occur in the future. These forward-looking statements are subject to a number of risks and uncertainties, including those set out in our filings with the Canadian and US securities regulators.

Any forward-looking statement is not a guarantee of future performance and actual results may differ materially from those expressed or implied in the forward-looking statements. These forward-looking statements speak only as of today's date, and we do not assume any obligation to update these statements, whether as a result of new information, future events and developments or otherwise. This call will include a discussion of certain non-IFRS measures. A reconciliation of these non-IFRS measures can be found in our filings with the Canadian and US securities regulators.

I will now turn the call back over to Patrick.

Patrick Dovigi

Thank you, Luke. The quality of our asset base and the strong execution of our committed employees once again drove industry-leading organic growth for the year. In Q4, for the second quarter in a row, we saw 300 basis points of margin expansion. At the same time, we exceeded our internal expectations for growth across revenue, adjusted EBITDA and adjusted free cash flow.

The momentum of our financial performance gives us conviction in our key value creation strategies. One, generating durable price cost spread; two, focusing on the quality volume; three, benefiting from improvement in employee turnover; four, optimizing our platform through improved asset utilization; five, realizing contribution from our sustainability-related investments; and six, capturing synergies from accretive M&A within our existing footprint.