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  "documentTitle": "GFL Environmental Inc. (GFL)",
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  "authorName": "Spruce Point Capital Management",
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  "presentationDate": "2020-08-18 00:00:00",
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  "notes": "Uses two side-by-side tables to contrast financial performance metrics between Q1 and Q2 2020.",
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      "text": "“If I were to take a conservative estimate, well over 50% of GFL’s 100+ acquisitions I’d characterize as a failure.”",
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      "text": "It’s noteworthy that “Acquisition EBITDA” fell materially by 38.5% sequentially.",
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      "text": "Run rate EBITDA: 1,036.3",
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      "text": "Run-Rate EBITDA declined sequentially from Q1 to Q2 from C$1,059.5m to C$1,036.3, by or 2.2%. It’s noteworthy that “Acquisition EBITDA” fell materially by 38.5% sequentially. Certainly, the poor timing of deploying over C$1.1 billion in Q1 during peak COVID-19 didn’t help.",
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      "text": "“If I were to take a conservative estimate, well over 50% of GFL's 100+ acquisitions I'd characterize as a failure.” — Industry Observer Familiar With GFL In Canada",
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