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    How Investors May Respond To SECURE Waste Infrastructure (TSX:SES) Earnings Beat And Reaffirmed 2026 EBITDA Outlook

    Simply Wall St·07/30/2026 21:15:09
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    • SECURE Waste Infrastructure Corp. has already reported second-quarter 2026 results, with sales rising to C$422 million and net income to C$43 million, while reaffirming expectations for Adjusted EBITDA near the top of its 2026 guidance range.
    • Stronger year-over-year earnings and confirmation of ongoing C$100 million growth capital spending, alongside progress toward closing the GFL transaction, underline management’s confidence in its current operating and expansion plans.
    • We’ll now examine how the stronger quarterly earnings and reaffirmed near-top-end EBITDA guidance shape SECURE’s existing investment narrative.

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    SECURE Waste Infrastructure Investment Narrative Recap

    To own SECURE Waste Infrastructure, you need to believe in the durability of its waste and energy infrastructure cash flows and its ability to manage sector and regulatory risks. The latest quarter’s higher sales and earnings, plus guidance for Adjusted EBITDA near the top of 2026 expectations, support the near term catalyst of closing the GFL acquisition, while not meaningfully changing the key risk around long term exposure to oil and gas activity.

    The most relevant recent development alongside these results is the pending acquisition by GFL Environmental at C$24.75 per share, approved by shareholders and expected to close in the second half of 2026. For investors, the combination of strong Q2 performance, reaffirmed growth capital of C$100 million, and progress toward the GFL deal brings the catalyst timeline into clearer focus while leaving longer term regulatory and environmental cost risks very much in play.

    Yet even as the numbers look solid, investors should be aware that...

    Read the full narrative on SECURE Waste Infrastructure (it's free!)

    SECURE Waste Infrastructure's narrative projects CA$262.9 million revenue and CA$254.0 million earnings by 2028.

    Uncover how SECURE Waste Infrastructure's forecasts yield a CA$19.92 fair value, a 16% downside to its current price.

    Exploring Other Perspectives

    TSX:SES 1-Year Stock Price Chart
    TSX:SES 1-Year Stock Price Chart

    Four members of the Simply Wall St Community see fair value anywhere between C$19.92 and C$60.86, showing how far apart views can be. Set this wide spread against SECURE’s reliance on oil and gas waste volumes and you can see why it helps to weigh several different risk views before deciding how its performance might evolve.

    Explore 4 other fair value estimates on SECURE Waste Infrastructure - why the stock might be worth 16% less than the current price!

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    This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.