Enerflex Q3 EBITDA $129M, FCF $102M; Dividend Raised ~17% to US$0.035
EFXT has more than doubled off its 52-week low of $12.46 on light trading volume (0.3× avg).
Summary
Enerflex posted Q3 adjusted EBITDA of $129 million on $623 million of revenue, generated $102 million of free cash flow and lifted its quarterly dividend roughly 17% to US$0.035 per share.
Key Events · Earnings and Guidance · EFXT
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Q3 EBITDA $129M, Revenue Down YoY
Adjusted EBITDA of $129 million versus $145 million in Q3/25 and $128 million in Q2/26; revenue fell to $623 million from $777 million as last year's Bisat C start-up and ES milestones did not repeat.
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Free Cash Flow Jumps to $102M
FCF rose to $102 million from $43 million a year ago on $147 million of operating cash flow, which included a $51 million working capital recovery.
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Dividend Raised ~17% to US$0.035
Board declared the quarterly dividend in U.S. dollars at US$0.035 per share, payable November 25, 2026 to holders of record November 12, 2026.
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Record Backlog $2.1B, Bookings $1.0B
ES bookings of $1,024 million drove a 3.0x book-to-bill and lifted ES backlog to a record $2,136 million; behind-the-meter power backlog now exceeds 1.75 GW after early Q4 awards.
Analysis · EFXT · Technology
Adjusted EBITDA slipped to $129 million from $145 million a year ago, but the cash story is much stronger: free cash flow of $102 million versus $43 million, net debt down to $312 million and leverage at 0.6x. Record ES bookings of $1.0 billion pushed backlog to $2.1 billion, and the board raised the quarterly dividend about 17% to US$0.035, now declared in U.S. dollars. The offset is revenue: $623 million versus $777 million, because last year's quarter carried the Bisat C start-up and large ES milestones that did not repeat.
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At the time of this filing, EFXT was trading at $24.94 on NYSE in the Technology sector, with a market capitalization of approximately $3B. The 52-week trading range was $12.46 to $29.15. This filing was assessed with positive market sentiment and an importance score of 7 out of 10.