Environmental & Facilities Services

New York's Department of Environmental Conservation approved a permit allowing Casella Waste Systems to expand the Hakes Construction and Demolition landfill in Campbell by about 43.3 acres, adding an estimated 5.8 million cubic yards of disposal capacity. The approval also covers 21.7 acres of soil borrow area and upgraded leachate and gas systems, materially increasing Casella's permitted footprint for construction and demolition waste. The expansion sits alongside Casella's 6 August 2026 guidance update, in which management raised 2026 revenue expectations to US$2.090 billion to US$2.110 billion while cutting net income guidance to US$0 to US$6 million on higher acquisition activity and fuel cost recovery dynamics. Casella's narrative projects $2.5 billion revenue and $92.3 million earnings by 2029, requiring 9.2% yearly revenue growth and about a $86.6 million earnings increase from $5.7 million today, with forecasts yielding a $111.00 fair value, a 34% upside to its current price.

Better World Green Public Company Limited, or BWG, has confirmed that its waste landfill in Saraburi province carries no risk of flooding, as it sits on ground well above road level and sea level. Ms. Nattaphan Luengwiriya, a director and deputy managing director for business development and corporate communications, told Than Hoon that the company expects fourth-quarter 2026 operating results to be close to the same period a year earlier, and that full-year 2026 performance should be roughly flat versus the prior year, with EBITDA this year likely holding steady amid persistent pressure from oil costs. BWG reported total revenue of 2.76 billion baht for 2025 and EBITDA of 1.495 billion baht. Meanwhile, the new Power Development Plan, whose public consultation concluded on September 15, 2026, opens the door for the company to expand further into the power plant business. Most recently, on September 29, 2026, TRIS Rating affirmed BWG's corporate credit rating at BBB with a stable outlook, and expects waste management volumes to grow about 2% per year during 2026-2028, SRF sales to rise about 5% per year over the same period, and EBITDA from the waste management business to recover from 360-380 million baht in 2026 to 640-670 million baht by 2028.

GFL Environmental rose 4% on a report that two private equity groups have made offers for the company. GFL's special committee is evaluating the takeover offers with its adviser, according to traders who cited a CTFN report circulating on Friday that cited a source familiar with the matter. One group consists of private equity firms KKR, Blackstone, and Energy Capital Partners, while the other group includes Brookfield Asset Management and IFM Investors. The bids likely need to be at the top end of the $50 to $55 a share range that CTFN previously reported to get across the finish line, and GFL has also received interest from strategic buyers for certain markets or regions. GFL CEO Patrick Dovigi told Bloomberg TV last month that he is open to taking the company private at a higher valuation than it currently trades at, saying no decision has been made, and GFL is set to report Q3 results on Oct. 28.

Veralto Corporation's Water Quality segment lifted its adjusted operating margin to 26.5% from 25.9%, with adjusted operating profit up 12.6% year over year to $241 million. Water Quality sales rose 10.1% year over year to $908 million, including core growth of 5.7%, a 2.9% pricing contribution, 3.2% from acquisitions and a 1.2% currency benefit. Operating profit grew faster than sales, a relationship the company says could lift the segment's contribution to its overall financial profile if sustained. Veralto faces water technology peers Xylem and Watts Water Technologies as infrastructure spending and tighter water-efficiency requirements expand the market. The key factor to watch is whether Water Quality can hold its margin trajectory while preserving healthy organic demand.

BGE has released a share buyback progress announcement. As of September 30, 2026, the company had cumulatively repurchased 6,045,916 shares through centralized bidding, accounting for approximately 0.40% of total share capital, with a total payment of 79.4483 million yuan. The buyback plan proposes to use total funds of 100 million to 200 million yuan, and the amount paid so far has not yet reached the 100 million yuan lower limit. The buyback period runs from July 21 to October 20, 2026, and is approaching its expiration. The company disclosed the buyback plan on July 21, 2026, with a buyback price not exceeding 24 yuan per share, and implemented its first buyback of 955,489 shares on July 24, paying approximately 11.82 million yuan. In terms of performance, in the first half of 2026 the company achieved total operating revenue of 10.319 billion yuan, up 54.02% year on year; net profit attributable to the parent was 1.022 billion yuan, up 103.37% year on year; non-GAAP net profit was 971 million yuan, up 113.74% year on year; net cash flow from operating activities was negative 607 million yuan, compared with 347 million yuan in the same period last year; basic earnings per share were 0.679 yuan, and the weighted average return on equity was 10.14%. The semi-annual distribution plan is a cash dividend of 1.4 yuan per 10 shares, including tax.

Feinan Resources announced that the company has won the destruction-type scrapped item disposal project of a well-known domestic communications equipment enterprise, and recently signed a scrapped item disposal agreement with the tendering party. The estimated quantity of scrapped items to be disposed of under the agreement is about 21,000 tonnes. The agreement takes effect on October 1, 2026, and is valid until September 30, 2028. The company said that the performance of the agreement is expected to have a positive impact on overall operations, but will not have a significant impact on operating results in the short term.

Liantai Environmental Protection announced that it plans to transfer its 100% equity interests in Hunan Liantai and Shantou Liantai to Shangshi Zhejie, with the counterparty paying in cash. Under the equity transfer agreement signed by both parties on September 29, 2026, the transfer price for Shantou Liantai is 590 million yuan, and for Hunan Liantai is 1.021 billion yuan, totaling 1.611 billion yuan. After the transaction, the listed company will no longer hold 100% equity in Hunan Liantai or Shantou Liantai, but will retain partial stakes in Shantou Liantai's controlled subsidiaries, including 40% of Sunan Water, 40% of Subei Water, 39.50% of Xinxi Water, 39% of Chenghai Water, 39% of Guanbu Water, 39% of Chaoying Water, 15% of Chaohai Water, and 15% of Chengxi Water. The transaction constitutes a major asset restructuring, but does not constitute a related-party transaction or a reverse merger. The company said the deal will help resolve liquidity and debt repayment risks, reduce accounts receivable, and optimize the asset-liability structure, while its main business remains urban and rural domestic sewage treatment.

Liantai Environmental Protection disclosed a major asset sale plan on the evening of September 29, proposing to transfer 100% equity in Hunan Liantai and 100% equity in Shantou Liantai to Shangshi Zhejie, with the counterparty paying in cash. Under the equity transfer agreement signed by both parties that day, the transfer price for Shantou Liantai is 590 million yuan, and for Hunan Liantai is 1.021 billion yuan, totaling 1.611 billion yuan. The transaction constitutes a major asset restructuring but does not constitute a related-party transaction or a backdoor listing. Hunan Liantai and Shantou Liantai were established in April 2026 to consolidate three project companies in the Hunan region and eight project companies plus one wholly owned electromechanical equipment subsidiary in the Shantou region of Guangdong that the listed company plans to sell. After the transaction is completed, the listed company will no longer hold equity in these two companies, but will still hold 15% to 40% stakes in eight companies including Sunan Water and Subei Water, which are controlled subsidiaries of Shantou Liantai. The controlling shareholder of the counterparty Shangshi Zhejie is Shanghai Shangshi Group, and its actual controller is the Shanghai State-owned Assets Supervision and Administration Commission. This acquisition aligns with the expansion strategy of Shanghai Shangshi's water utilities segment. Liantai Environmental Protection said the transaction will help resolve liquidity risks and debt repayment risks, significantly reduce the scale of accounts receivable, and lower the erosion of future earnings by credit impairment losses. As of the end of the second quarter of 2026, the company's book cash was only 31.93 million yuan, while short-term borrowings and non-current liabilities due within one year totaled about 712 million yuan, roughly 22.3 times book cash, with an additional 4.346 billion yuan in long-term borrowings. From the end of 2023 to the end of June 2026, the company's accounts receivable balances were 1.261 billion yuan, 1.654 billion yuan, 2.118 billion yuan, and 2.417 billion yuan respectively, while credit impairment losses rose from 77.2884 million yuan in 2023 to 161.2776 million yuan in 2025, an increase of 108.67%.

Utility Business Alliance Public Company Limited, or UBA, has signed a contract for the operation, maintenance, and management of the Din Daeng water quality control plant with the Bangkok Metropolitan Administration's Drainage Department as the client. The total contract value is 1,045.78 million baht, including value-added tax, with a total operating period of 5 years starting from July 8, 2026. Somchat Sanghitkul, Chief Executive Officer, disclosed that currently about 80% of UBA's work comes from the public sector and about 20% from the private sector. The company believes that growing challenges in water management will lead relevant agencies to place greater emphasis on water management systems, and this will support opportunities for new contracts going forward. As for operating results in the first quarter of 2026, the company reported a net profit of 16.98 million baht on a consolidated basis, an increase of 8.28 million baht, or 95.21%, from the same period last year when net profit was 8.70 million baht. Service revenue on a consolidated basis was 119.61 million baht, an increase of 42.57 million baht, or 55.26%, from the same period last year when revenue was 77.04 million baht. The main driver was revenue from the wastewater treatment business, which rose 41.48 million baht, or 78.22%, to 94.51 million baht.

Mister Donut, the donut chain operated by Duskin, opened a new store in Shanghai on the 28th, re-entering the Chinese mainland market after about seven years. The company had withdrawn from the mainland market in 2019. It opened a takeout-only shop in a shopping mall in the city, offering standard items along with limited-edition products such as a banana flavor popular with locals. Asked why it decided to re-enter, Duskin's public relations department cited the market and environment being ready and demand being expected. A local company that signed a franchise agreement will handle business operations, while Duskin will provide expertise and advice.

Mister Donut, the doughnut chain operated by Duskin, opened a new store in Shanghai on the 28th, re-entering the Chinese mainland market after about seven years. The company had withdrawn from the mainland market in 2019. It opened a takeout-only outlet in a shopping mall in the city, offering its standard lineup along with limited-edition items such as a banana flavor popular with local customers. Asked why it decided to re-enter, Duskin's public relations department said the market and environment are now in place and demand is expected. A local company that has signed a franchise agreement will handle operations, while Duskin will provide expertise and advice.

Zhongyuan Environmental Protection announced that it plans to jointly invest with Henan State-Owned Capital Operation Group and others to establish the Henan M&A Fund of Funds, with a total fund size of 15 billion yuan. As a limited partner, Zhongyuan Environmental Protection will commit 1.35 billion yuan, accounting for 9 percent of the total fund size, with an initial paid-in amount of 270 million yuan. The matter does not constitute a related-party transaction or a major asset restructuring, and has been approved by the board of directors.

Zhongyuan Environmental Protection announced that its wholly owned subsidiary Kaifeng Water intends to invest in the construction of the Henan Jinkai Group wastewater purification center expansion project, with a total investment of about 41.0808 million yuan, funded by self-raised capital. The project's designed water volume is 200 cubic meters per hour. After completion, the sewage treatment service fee unit price will be uniformly adjusted to 4.85 yuan per cubic meter, with an annual base water volume of 3.9864 million cubic meters, and the operating period will remain consistent with the existing project.

Zhongyuan Environmental Protection announced on September 27 that its wholly owned subsidiary Zhongyuan Environmental Protection Kaifeng Industrial Water Co., Ltd. plans to invest in the construction of the Henan Jinkai Group wastewater purification center expansion project, with a total project investment of approximately 41.0808 million yuan. The current sewage project treatment service unit price is 4.8 yuan per cubic meter. After the expansion project is completed and operations are merged, the sewage treatment service fee unit price will be uniformly adjusted to 4.85 yuan per cubic meter. On the same day, Zhongyuan Environmental Protection also announced plans to jointly establish the Henan Province buyout fund-of-funds with Henan State-owned Capital Operation Group Co., Ltd., Henan Innovation Investment Group Co., Ltd., China Pingmei Shenma Holding Group Co., Ltd. and other companies. The total fund size is 15 billion yuan, of which Zhongyuan Environmental Protection, as a limited partner, subscribes 9 percent of the fund size, with a subscribed amount of 1.35 billion yuan. The fund's first-phase paid-in capital is 3 billion yuan, and Zhongyuan Environmental Protection will pay in 270 million yuan from its own funds.

Laundry You Public Company Limited, or WASH, disclosed that WashXpress branches equipped with air conditioning saw service usage rise by an average of more than 15% compared with the period before installation. Chitsanupan Tangchalermkul, Chief Executive Officer and co-founder, said that completing air-conditioning installation at 100 branches was one of the company's key goals and received a better-than-expected response, and that the company plans to continue expanding installations in other areas. At the same time, the company aims to install solar power systems at 80 branches within the fourth quarter of 2026, having begun work in early September, in order to reduce the electricity costs that have risen due to the air-conditioning installations. WashXpress's delivery service currently covers more than 244 branches across 14 provinces, after adding 94 branches in the eastern and northeastern regions in September.

Hudson Technologies announced on September 17 that it signed a joint development agreement with Icorium to commercialize patented extractive distillation technology, gaining access to separation intellectual property, dedicated engineering resources, and exclusivity during initial commercialization. The goal is to recover more usable refrigerant from complex mixtures. The company has a clear reason to pursue better processing economics: second-quarter revenue rose 8% year over year to $78.3 million, but gross margin fell to 26% from 31%, and net income dropped to $4.9 million from $10.2 million a year earlier as selling prices declined 6%. Hudson reported $128.1 million of inventory as of June 30, though the portion suitable for the new process remains undisclosed. The announcement provided no quantified recovery yields, throughput, processing cost per pound, project budget, commercial launch date, or financial terms, and the agreement establishes no quantified earnings contribution. Insider Monkey's database showed 19 hedge funds holding Hudson Technologies at the end of 2Q2026, down from 21 funds three months earlier.

ABM Industries reported record fiscal third-quarter revenue of $2.3 billion, up 4.2% from a year earlier, with adjusted earnings per diluted share rising 27% to $1.04, and raised the midpoint of its full-year adjusted earnings guidance to a range of $3.95 to $4.10 per share. Nine-month free cash flow reached $199.6 million versus $42.4 million a year earlier, and the company lifted its full-year free cash flow forecast to approximately $210 million. Revenue tied to semiconductor facilities, microgrids, and data centers totaled close to $775 million over the first nine months of the fiscal year, now topping 11% of total revenue, with organic growth in the semiconductor business alone running at 65%. Deutsche Bank, Baird, and Truist each raised their price targets on the stock, to $54, $53, and $49 respectively, but all three maintained Hold or Neutral ratings, with Truist citing a light catalyst path. Weighing on results, Business and Industry revenue declined 2.6% amid the departure of a large United Kingdom client and weakness in Northern California commercial real estate, aviation operating margin fell to 5.6% from 6.8%, and Technical Solutions revenue grew just 4% after roughly $15 million in project delays.

ABM Industries raised its adjusted earnings outlook to $3.95-$4.10 per share from the earlier expectation of $3.85-$4.15, lifting the midpoint of its full-year guidance. The company also raised its full-year operating cash flow expectation to about $300 million and free cash flow to about $210 million, up $25 million from the prior free cash flow outlook. Organic revenue growth is still expected toward the high end of 3-4%, with total revenue growth toward the high end of 4-5%, while segment operating margin is projected at 7.7% to 7.8% compared with the prior range of 7.8-8%. Through the first nine months of fiscal 2026, semiconductor revenues reached about $300 million and grew 65% organically, microgrid revenues of roughly $300 million increased 17% and data center revenues of about $175 million rose 8%, aided by the recently acquired WGNSTAR and a roughly $20 million Army Corps of Engineers microgrid project planned for 2027. In the third quarter of fiscal 2026, operating cash flow reached $146.8 million and free cash flow totaled $128.4 million, while total debt declined to $1.8 billion and leverage improved to 2.9X from 3.2X in the prior quarter, with $605.8 million of available liquidity including $110.5 million of cash.

Clean Harbors Inc. has priced a $600 million private offering of senior notes to support its acquisition strategy. The notes mature in 2034, carry an interest rate of 6.250%, and were priced at 100% of their principal amount. Net proceeds will primarily finance the company's $470 million acquisition of EnviroServe, expected to close during the second half of 2026, with the remainder used to repay revolving-credit borrowings drawn to fund the $305 million all-cash acquisition of ES&H. Management expects around $25 million in cost synergies from EnviroServe over the first two years, bringing the post-synergy acquisition multiple to around 9 times adjusted EBITDA, while ES&H is projected to deliver around $90 million in annual base revenue contributions and roughly $5 million in cost synergies after the first full year. Clean Harbors cautioned there is no guarantee the acquisitions close on the anticipated terms, on schedule, or at all, and at a 6.250% coupon the notes would carry approximately $37.5 million in annual cash interest expense.

WASH, publicly listed as Laundry You, has announced the installation of air conditioning at all 100 of its branches nationwide in the second half of this year, driving average usage at equipped branches up by more than 15% compared with before installation. Chitsanuphan Tangchalermkul, Chief Executive Officer and co-founder of WASH, said the response exceeded expectations and the company plans to continue expanding air conditioning installation in other areas. On energy cost management, the company aims to install solar power systems at 80 branches by the fourth quarter of 2026, having begun installation in early September, in order to reduce electricity costs that have risen due to the air conditioning. Meanwhile, the WashXpress delivery service now covers more than 244 branches across 14 provinces, after adding 94 branches in the eastern and northeastern regions in September.

Laundry You Public Company Limited, or WASH, is pressing ahead with upgrading the customer experience at WashXpress. Chitsanuphan Tangchaloemkul, Chief Executive Officer and co-founder, disclosed that installing air conditioning across all 100 branches is one of the company's key goals and has received a better-than-expected response, with branches already fitted seeing usage rise by an average of more than 15% compared with the period before installation, and the company plans to continue expanding air-conditioning installation in other areas. On energy cost management, the company aims to install solar power systems at all 80 branches within the fourth quarter of 2026, having begun installation in early September, in order to reduce the higher electricity costs resulting from the air conditioning. Meanwhile, WashXpress's delivery service now covers more than 244 branches across 14 provinces, after adding 94 more branches in the eastern and northeastern regions in September.

Laundry You Public Company Limited, known as WASH, has unveiled its plan for the second half of 2026, targeting the installation of air conditioning at WashXpress stores across all 100 branches nationwide, after finding that branches already equipped saw usage rise by an average of more than 15% compared with the period before installation. Chitsanuphan Tangchalermkul, Chief Executive Officer and co-founder, said the company will press ahead with a plan to install solar power systems at 80 branches, to be completed within the fourth quarter of 2026, with installation having begun in early September, in order to cut the electricity costs that have risen from the air conditioning installation and to support the use of renewable energy to reduce carbon monoxide emissions. At the same time, the company is also expanding the WashXpress Delivery service, which currently covers more than 244 branches across 14 provinces, having added another 94 branches in the eastern and northeastern regions this past September.

Feinan Resources announced that it recently received a bid award letter from the tendering party, winning the bid for a destruction-type scrapped goods disposal project with a project period from October 2026 to September 2028. The scrapped goods mainly include waste circuit boards, waste cabinet subracks, waste electronic parts, and waste lithium batteries, with an estimated quantity of approximately 21,000 tonnes. The company stated that this awarded project falls within its ordinary business scope, can expand procurement sources of renewable resource raw materials, and is expected to have a positive impact on overall operations, but will not have a significant impact on operating performance in the short term.

Laundry You Public Company Limited, known as WASH, a provider of full-service laundromats under the WashXpress brand, announced progress in upgrading the customer experience in the second half of 2026 by installing air conditioning at 100 branches nationwide, which has lifted usage at the air-conditioned branches by an average of more than 15% compared with the period before installation. Chitsanuphan Tangchalermkul, Chief Executive Officer and co-founder, said the response exceeded expectations and the company plans to expand air-conditioning installation to additional areas. On energy cost management, the company aims to install solar power systems at 80 branches by the fourth quarter of 2026, after starting installation in early September, in order to reduce the higher electricity costs from air conditioning. Meanwhile, WashXpress's delivery service now covers more than 244 branches across 14 provinces, after adding 94 branches in the eastern and northeastern regions in September.

Clean Harbors raised its full-year 2026 guidance after a better-than-expected first half, lifting the midpoint of its adjusted EBITDA outlook by $110 million to $1.38 billion, with a range of $1.35-$1.41 billion. The company also increased the midpoint of its adjusted free cash flow outlook by $30 million to $550 million, guiding to $520-$580 million. For the third quarter, management expects adjusted EBITDA to rise 24-28% year over year, supported by emergency-response activity, PFAS opportunities, reshoring-related demand and favorable conditions for re-refined products. Clean Harbors generated more than $120 million in PFAS-related revenues in 2025, with that figure tracking more than 30% year-over-year growth by the second quarter, against an initial 2026 projection of 25-35% growth. Adjusted free cash flow swung from negative $76 million in the first quarter to $136 million in the second quarter, while operating cash flow rose 15% year over year to $239 million, and the company repurchased $25 million and $27.1 million of shares in the first and second quarters respectively, leaving nearly $550 million under its authorization as of June 30. Clean Harbors stock has gained 10.4% over the past six months, against a 5.7% decline for its industry and a 16% rise for the Zacks S&P 500 Composite.

Republic Services reported earnings of $1.84 per diluted share for the quarter that closed on June 30, up from $1.75 a year earlier, and lifted most of its full-year targets. Core price on total revenue added 5.3% to growth, helping lift total revenue by 4.6%, while volume took away 1.6% and acquisitions supplied 1.1% of that total growth. Adjusted EBITDA reached $1.42 billion at a 32.1% margin, matching the prior year even after a 50 basis point drag from event-driven landfill volumes, and the board added 4.5 cents to the quarterly dividend, setting it at $0.670 per share with an October 2 record date and payment on October 15. Management raised full-year revenue, adjusted EBITDA, and free cash flow guidance and set adjusted earnings at $7.23 to $7.28 per share, though recycled commodities sold for an average of $136 per ton, $13 lower than a year earlier. 58 hedge funds held the stock in the most recent quarter, up from 54 the quarter before, and short interest stands at 2.16% of float.

Waste Connections raised its full-year 2026 outlook after reporting second-quarter revenue growth of 6.4% year over year to $2.56 billion. The company now expects 2026 revenues of $10.02-$10.05 billion and adjusted EBITDA of $3.33-$3.34 billion, with adjusted free cash flow of $1.40-$1.45 billion. Adjusted EBITDA rose 6.8% to $840.1 million in the quarter, with the margin expanding to 32.8%, while solid waste internal growth of 3.6% was driven by a 5.6% core price increase. Waste Connections completed acquisitions representing more than $100 million in annualized revenues, and its board declared a regular quarterly cash dividend of $0.35 per U.S. common share, payable on Aug. 20, 2026, to shareholders of record as of Aug. 6, 2026. Operating income fell to $437.6 million from $459.5 million a year earlier as fuel and related costs rose and commodity values remained lower, and capital expenditures climbed to $598.9 million in the first six months of 2026 from $497.8 million a year ago.

Two competing private equity consortiums have emerged for GFL Environmental, setting up a bidding war over a target carrying $28 billion in combined equity value and debt, Bloomberg News reported Wednesday evening. KKR & Co., Energy Capital Partners, and Blackstone Inc. have formed one consortium, while Brookfield Asset Management and IFM Investors have teamed on a rival offer. GFL carries a market capitalization of roughly $18 billion alongside approximately $10 billion in debt, implying a total enterprise value approaching $28 billion. CEO Patrick Dovigi said on Bloomberg TV that he is open to taking the company private at a higher valuation than its current stock price and would roll his entire ownership stake into any transaction. GFL's special committee, formed in July after the company retained advisers following preliminary takeover interest, is expected to take time evaluating the competing proposals and could ask bidders to sharpen their offers, with a decision possible within weeks. At roughly $28 billion in enterprise value, a completed GFL transaction would rank just below the AES Corp. takeover, currently the largest announced North American LBO of 2026 at approximately $33 billion including debt.

Jiaotou Ecology announced on September 14 that the company, as the lead member of a consortium with Jiankan Survey Co., Ltd. and Chongqing Yuhao Architectural Design and Research Institute Co., Ltd., has been identified as the first candidate for the design-build contract of the Guanlei Port Logistics Park Project Phase One. The pre-winning bid amount is 28.1907 million yuan.

Better World Green, or BWG, and Akkee Prakarn, or AKP, joined the government in supporting the annual ceremony to destroy seized items in finalized intellectual property infringement cases for 2026, organized by the Department of Intellectual Property under the Ministry of Commerce together with the Royal Thai Police, the Customs Department and the Department of Special Investigation at the reserve training ground of the 1st Anti-Aircraft Artillery Battalion, 7th Regiment, Air Defense Command, Royal Thai Army, in Don Mueang district, Bangkok. Dr. Piyanuch Wuttisorn, Assistant Minister to the Ministry of Commerce, presided over the ceremony. The seized items destroyed this year totaled 2,085,705 pieces, representing economic damage of more than 2.145 billion baht, an increase of more than 36.45% from the previous year. They covered consumer goods, clothing, bags, electronic devices, automotive parts, as well as sensitive product groups such as counterfeit medicines, medical supplies and cosmetics. The group of companies was entrusted to take responsibility for disposing of all the seized items under the ISO 14001:2015 environmental management standard. General non-hazardous items will be sent to the renewable energy center in Nakhon Luang Industrial Estate, Nakhon Luang district, Phra Nakhon Si Ayutthaya province, to be crushed and shredded to destroy their condition before being processed into industrial refuse-derived fuel, or RDF, to feed the power plant of Recovery House Company Limited under the ETC group. Meanwhile, seized items in the chemical, medicine, medical supply and counterfeit cosmetics groups will be sent to the high-temperature EKP incinerator at Bang Pu Industrial Estate in Samut Prakan province, which controls temperatures above 1,000 to 1,200 degrees Celsius, along with an air pollution treatment system and a real-time air quality monitoring system, or CEMS. Mr. Akarawit Khan Kaew, Vice Chairman of BWG, said the group of companies places importance on transparency at every step. Mr. Supawat Khunworawinit, Chief Executive Officer of ETC, said that using RDF from the seized items to generate electricity helps turn copyright-infringing goods into renewable energy. Mr. Wanchai Lueangwiriya, Chief Executive Officer and Managing Director of AKP, stressed that the specialized incinerator was designed according to international standards specifically to dispose of these hazardous wastes, in line with the obligations of the World Trade Organization, or WTO.

ABM Industries told investors on September 8 that nine-month free cash flow reached $199.6 million, up from $42.4 million a year earlier, prompting management to raise its full-year reported free cash flow outlook to $210 million and its normalized figure to $285 million. Adjusted EPS climbed 27% to $1.04, and the company hit its target leverage ratio of below 3 times a full quarter ahead of schedule. Semiconductor, microgrid, and data center work generated nearly $775 million in revenue over nine months, now more than 11% of the total, with semiconductor organic growth alone running 65%, while aviation revenue grew 12% to $328.1 million and manufacturing and distribution revenue rose 18% to $481 million. Not every segment cooperated: Business and Industry revenue fell 2.6% on a large UK client exit and soft Northern California commercial real estate, aviation operating margin slipped to 5.6% from 6.8%, and Technical Solutions revenue rose just 4% after $15 million in project deferrals. Hedge fund ownership fell from 28 funds to 21, short interest sits at 5.45% of float, and the stock trades at a forward price-to-earnings ratio of just 9.13 as of September 11.

GFL Environmental Inc. completed its acquisition of SECURE Waste Infrastructure, adding a specialized waste and energy-infrastructure platform across Western Canada and North Dakota. At announcement, the transaction carried a C$6.4 billion enterprise value, with shareholder consideration split 80% in GFL shares and 20% in cash. Closing required issuing 75,126,306 subordinate voting shares, drawing on a revolving credit facility, and a new US$1 billion senior secured term loan that matures in August 2033 and pays the Secured Overnight Financing Rate plus 200 basis points, which GFL estimates at roughly 5% after cross-currency interest-rate swaps. SECURE brings more than 80 locations, including landfills, waste-treatment and recycling facilities, injection wells, transfer stations, crude oil terminals and pipeline-connected infrastructure, and more than 2,000 SECURE employees are joining the combined company under SECURE President and Chief Executive Officer Allen Gransch. GFL projected a 31.6% pro forma company-defined non-IFRS adjusted EBITDA margin at announcement and continues to target year-end company-defined non-IFRS net leverage in the mid-3s, while planning to update 2026 guidance for SECURE with its third-quarter results.

ABM reported better-than-expected third-quarter fiscal 2026 results, with adjusted earnings of $1.04 per share up 27% year over year and beating the Zacks Consensus Estimate of $1.01 by 3%, while revenues rose 4.2% to $2.32 billion and topped the consensus mark of $2.30 billion by 0.7%. The company raised its adjusted earnings outlook to $3.95-$4.10 per share from $3.85-$4.15, lifting the midpoint to $4.02, above the Zacks Consensus Estimate of $3.97, and now projects segment operating margin of 7.7-7.8% versus the prior 7.8-8% range. Growth was led by Manufacturing & Distribution, where revenues climbed 17.6% to $481 million, and Aviation, up 12.5% to $328.1 million, while Business & Industry revenues declined 2.6% to $1.01 billion on the exit of a large U.K.-based client and West Coast softness. Semiconductor, microgrid and data center-related revenues reached nearly $775 million through nine months, rising 26% organically, with semiconductor revenues at about $300 million, microgrid at about $300 million and data center at roughly $175 million. GAAP net income increased 18.9% to $49.7 million, or 84 cents per share, adjusted EBITDA rose 11% to $139.6 million, and the company lifted its full-year operating cash flow expectation to about $300 million and free cash flow to about $210 million, up $25 million from the prior free cash flow outlook.