GFL Environmental (GFL.TO, GFL) edged down in after-hours New York trading after the company on Wednesday said its third-quarter profit and revenue rose year-over-year.
The waste-management company said it earned $110.4 million, or $0.23 per share, in the quarter, up from a profit of $22.1 million, in the year-prior quarter. The result surpassed the Capital IQ consensus forecast for a profit of $0.16 per share.
Revenue rose 9.3%, excluding the impact of divestitures, to $2.02 billion from $1.89 billion a year ago, slightly below the Capital IQ forecast of $2.05 billion.
Chief Executive Victor Dovigi said the company is on track to meet its 2024 capital allocation goals, including investing around $900 million in mergers and acquisitions, and growth.
The company also said that starting Jan. 1, Greg Yorston will hand over the role of chief operating officer to Billy Soffera, its current executive vice president of solid waste operations. Yorston will stay in an advisory role until the end of 2025 to ensure a smooth transition.
GFL shares were last seen down US$0.26 to US$43.34 after hours. They closed up $2.67 to $60.75 on the Toronto Stock Exchange.
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