Enerflex Beats on Cash Flow, Lifts Dividend 17% as ES Backlog Hits Record $2.1B
EFXT has more than doubled off its 52-week low of $12.46.
Summary
Enerflex reported Q3 2026 adjusted EBITDA of $129 million, down from $145 million a year ago but up slightly from $128 million in Q2, while free cash flow jumped to $102 million from $43 million in Q3 2025 on a $51 million working capital recovery. Net earnings rose to $55 million, or $0.45 per share, from $37 million ($0.30) a year earlier, helped by the gain on the Asia Pacific divestiture and lower finance costs. The standout is Engineered Systems: bookings hit a record $1.0 billion in the quarter versus $339 million a year ago, pushing ES backlog to a record $2.1 billion, and management says behind-the-meter gas-fired power generation backlog now exceeds 1.75 GW including early Q4 awards, with deliveries running through 2028. The board raised the quarterly dividend about 17% to $0.035 per share, payable November 25, and net debt fell to $312 million with bank-adjusted net debt/EBITDA at 0.6x. Revenue of $623 million was down year-over-year on the prior-year Bisat C milestone recognition, so the story here is cash generation, record bookings and the data-center power pipeline rather than the top line. Management holds its earnings call October 29 at 8:00 a.m. MDT.
At the time of this announcement, EFXT was trading at $25.00 on NYSE in the Energy & Transportation sector, with a market capitalization of approximately $3.1B. The 52-week trading range was $12.46 to $29.15. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: GlobeNewswire.