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  "documentTitle": "GFL Environmental Inc. (GFL)",
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  "authorName": "Spruce Point Capital Management",
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  "sourceTypeLabel": "Short seller",
  "presentationDate": "2020-08-18 00:00:00",
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      "text": "During Q2 earnings season, GFL talked up a bullish recovery, especially in July, when most competitors were signaling caution, GFL then later recalibrates expectations around working capital benefits.",
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      "text": "Comparison of GFL CEO, Casella Waste, and Waste Management statements against GFL CFO's later walk-back.",
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      "text": "During Q2 earnings season, GFL talked up a bullish recovery, especially in July, when most competitors were signaling caution, GFL then later recalibrates expectations around working capital benefits.",
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      "text": "\"Now the last sort of 3 weeks post, I would say the July long. We can, we've seen the business significantly uptick and is trending much closer to budget, then we've been for the whole year. So all signs are pointing in the right direction.\" — GFL CEO Dovigi; \"Through July we were seeing landfill volumes up slightly sequentially. However, we were not experiencing the typical seasonal ramp we usually see during the summer months.\" — Casella Waste Q2 Earnings Call; \"Sure. Yes. I mean, we are, to your point, seeing July continue to accelerate, albeit at a slightly slower pace. I mean, look, this kind of went from zero to not 70 miles an hour, but probably zero to 60 miles an hour pretty fast, and now we're moving back towards 70 miles an hour.\" — Waste Management Q2 Earnings Call; \"Despite my comments about the strength of collections, given the uncertainty in the current environment, we think it's prudent to adjust these expectations to remaining flat for working capital for the year as a whole.\" — GFL CFO Luke Pelosi Q2 Earnings Call",
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      "text": "Source: CWST Earnings Call, WM Earnings Call, GFL Earnings Call",
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      "text": "GFL Commentary At Odds With Market And It Walking Back Expectations",
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