{"id":1014990,"date":"2026-10-29T06:58:23","date_gmt":"2026-10-29T10:58:23","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/enerflex-ltd-announces-third-quarter-2026-financial-and-operational-results-and-increased-dividend\/"},"modified":"2026-10-29T06:58:23","modified_gmt":"2026-10-29T10:58:23","slug":"enerflex-ltd-announces-third-quarter-2026-financial-and-operational-results-and-increased-dividend","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/enerflex-ltd-announces-third-quarter-2026-financial-and-operational-results-and-increased-dividend\/","title":{"rendered":"Enerflex Ltd. Announces Third Quarter 2026 Financial and Operational Results and Increased Dividend"},"content":{"rendered":"
\n

\n ADJUSTED EBITDA OF $129 MILLION, FREE CASH FLOW OF $102 MILLION AND RETURN ON CAPITAL EMPLOYED OF 15.8%<\/em>\n <\/p>\n

\n RECORD ES BOOKINGS AND BACKLOG OF $1.0 BILLION AND $2.1 BILLION, RESPECTIVELY<\/em>\n <\/p>\n

\n QUARTERLY DIVIDEND INCREASED BY ~17% TO US$0.035 PER SHARE; SUPPORTS DIRECT SHAREHOLDER RETURNS<\/em>\n <\/p>\n

CALGARY, Alberta, Oct. 29, 2026 (GLOBE NEWSWIRE) — Enerflex Ltd. (TSX: EFX) (NYSE: EFXT) (\u201cEnerflex\u201d or the \u201cCompany\u201d) today reported its financial and operational results for the three and nine months ended September 30, 2026.<\/p>\n

All amounts presented are in U.S. Dollars unless otherwise stated.<\/p>\n

\n MANAGEMENT COMMENTARY<\/strong>\n <\/p>\n

Paul Mahoney, Enerflex’s President and Chief Executive Officer stated: \u201cEnerflex delivered a solid third quarter, highlighted by healthy cash generation, record bookings and backlog, notable commercial wins for behind-the-meter natural gas-fired power generation, and continued progress towards the strategic objectives highlighted during our May investor update. We are very pleased with the progress to date and adoption of operational and efficiency initiatives across our integrated company.<\/p>\n

Enerflex\u2019s focus is on competing intentionally in the markets where we can win and improving relentlessly through operational excellence. We remain confident in our ability to improve profitability, cash conversion, and returns through operational excellence, grow revenue ahead of our underlying markets, and deliver disciplined value adding growth for our shareholders. The momentum we are seeing in behind-the-meter natural gas-fired power generation, combined with investments to expand our Engineered Systems capacity and capabilities, reinforces our confidence in achieving our value creation objectives.<\/p>\n

Behind-the-meter natural gas-fired power generation is becoming an increasingly important growth platform for Enerflex and complements the strength we continue to see in Enerflex\u2019s core natural gas markets. Including awards secured in early Q4, our backlog of behind-the-meter natural gas-fired power generation now exceeds 1.75 gigawatts. We are uniquely positioned to support customers throughout the lifecycle of these assets, from design, engineering, manufacturing and assembly through commissioning, after-market services, operations, maintenance, and digital optimization enabled by ReliaCore\u2122.\u201d<\/p>\n

Preet Dhindsa, Enerflex\u2019s Senior Vice President and Chief Financial Officer, added: \u201cStrong cash generation during the third quarter strengthened Enerflex\u2019s financial position and provides significant flexibility as we continue to progress towards our strategic objectives. During the quarter, we completed the divestiture of the majority of our Asia Pacific operations, further sharpening our focus on core operating regions. Reflecting confidence in our business and outlook, the Board has approved an increase of approximately 17% to Enerflex\u2019s quarterly dividend, aligning with our objective of providing meaningful direct shareholder returns. We remain focused on maintaining balance sheet strength and disciplined capital allocation, including investing in organic growth and evaluating selective value-enhancing tuck-in acquisition opportunities.\u201d<\/p>\n

\n SUMMARY RESULTS<\/strong>\n <\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\u00a0<\/td>\nThree months ended September\u00a030,<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\nNine months ended September\u00a030,<\/td>\n\u00a0<\/td>\n<\/tr>\n
($ millions, except per share amounts, percentages and ratios)<\/td>\n\n 2026<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n2025<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 2026<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n2025<\/td>\n\u00a0<\/td>\n<\/tr>\n
Revenue<\/td>\n\n $<\/strong>\n <\/td>\n\n 623<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n777<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n $<\/strong>\n <\/td>\n\n 1,789<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n1,944<\/td>\n\u00a0<\/td>\n<\/tr>\n
Gross margin (“GM”)<\/td>\n\u00a0<\/td>\n\n 142<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n172<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 426<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n439<\/td>\n\u00a0<\/td>\n<\/tr>\n
GM as a percentage of revenue (“GM %”)<\/td>\n\u00a0<\/td>\n\n 22.8<\/strong>\n <\/td>\n\n %<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n22.1<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 23.8<\/strong>\n <\/td>\n\n %<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n22.6<\/td>\n%<\/td>\n<\/tr>\n
Selling, general and administrative expenses (\u201cSG&A\u201d)<\/td>\n\u00a0<\/td>\n\n 64<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n71<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 224<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n189<\/td>\n\u00a0<\/td>\n<\/tr>\n
Operating income<\/td>\n\u00a0<\/td>\n\n 77<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n102<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 203<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n249<\/td>\n\u00a0<\/td>\n<\/tr>\n
EBITDA1<\/sup><\/td>\n\u00a0<\/td>\n\n 117<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n122<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 321<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n361<\/td>\n\u00a0<\/td>\n<\/tr>\n
EBIT1<\/sup><\/td>\n\u00a0<\/td>\n\n 79<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n82<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 209<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n240<\/td>\n\u00a0<\/td>\n<\/tr>\n
Net earnings<\/td>\n\u00a0<\/td>\n\n 55<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n37<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 128<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n121<\/td>\n\u00a0<\/td>\n<\/tr>\n
Earnings per share – basic<\/td>\n\u00a0<\/td>\n\n 0.45<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n0.30<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 1.05<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n0.98<\/td>\n\u00a0<\/td>\n<\/tr>\n
Long-term debt<\/td>\n\u00a0<\/td>\n\n 539<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n648<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 539<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n648<\/td>\n\u00a0<\/td>\n<\/tr>\n
Net debt2<\/sup><\/td>\n\u00a0<\/td>\n\n 312<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n584<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 312<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n584<\/td>\n\u00a0<\/td>\n<\/tr>\n
Cash provided by operating activities<\/td>\n\u00a0<\/td>\n\n 147<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n74<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 268<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n166<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\n Key Financial Performance Indicators (\u201cKPIs\u201d)<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
ES backlog3<\/sup><\/td>\n\n $<\/strong>\n <\/td>\n\n 2,136<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n1,071<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n $<\/strong>\n <\/td>\n\n 2,136<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n1,071<\/td>\n\u00a0<\/td>\n<\/tr>\n
ES bookings3<\/sup><\/td>\n\u00a0<\/td>\n\n 1,024<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n339<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 1,995<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n909<\/td>\n\u00a0<\/td>\n<\/tr>\n
EI contract backlog4<\/sup><\/td>\n\u00a0<\/td>\n\n 1,182<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,370<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 1,182<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,370<\/td>\n\u00a0<\/td>\n<\/tr>\n
GM before depreciation and amortization (\u201cGM before D&A\u201d)5<\/sup><\/td>\n\u00a0<\/td>\n\n 176<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n206<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 528<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n542<\/td>\n\u00a0<\/td>\n<\/tr>\n
GM before D&A as a percentage of revenue (“GM before D&A %”)5<\/sup><\/td>\n\u00a0<\/td>\n\n 28.3<\/strong>\n <\/td>\n\n %<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n26.5<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 29.5<\/strong>\n <\/td>\n\n %<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n27.9<\/td>\n%<\/td>\n<\/tr>\n
Adjusted EBITDA6<\/sup><\/td>\n\u00a0<\/td>\n\n 129<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n145<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 394<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n388<\/td>\n\u00a0<\/td>\n<\/tr>\n
Free cash flow7<\/sup><\/td>\n\u00a0<\/td>\n\n 102<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n43<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 149<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n89<\/td>\n\u00a0<\/td>\n<\/tr>\n
Bank-adjusted net debt to EBITDA ratio7,8<\/sup><\/td>\n\u00a0<\/td>\n\n 0.6<\/strong>\n <\/td>\n\n x<\/strong>\n <\/td>\n\u00a0<\/td>\n1.2x<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 0.6<\/strong>\n <\/td>\n\n x<\/strong>\n <\/td>\n\u00a0<\/td>\n1.2x<\/td>\n\u00a0<\/td>\n<\/tr>\n
Return on capital employed (\u201cROCE\u201d)7,8<\/sup><\/td>\n\u00a0<\/td>\n\n 15.8<\/strong>\n <\/td>\n\n %<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n16.9<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 15.8<\/strong>\n <\/td>\n\n %<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n16.9<\/td>\n%<\/td>\n<\/tr>\n<\/table>\n

\n
\n
\n
1 <\/em>
\n <\/sup>
\n EBITDA is defined as earnings before net finance costs, income taxes, depreciation and amortization. EBIT is defined as earnings before net finance costs and income taxes. <\/em>
\n
\n
\n 2 <\/em>
\n <\/sup>
\n Net debt is defined as total long-term <\/em>
\n debt<\/em>
\n less<\/em>
\n cash and cash equivalents, as presented in the Financial Statements. <\/em>
\n
\n
\n 3 <\/em>
\n <\/sup>
\n Refer to the \u201cES Backlog and Bookings\u201d section of the MD&A for further details.<\/em>
\n
\n
\n 4 <\/em>
\n <\/sup>
\n Refer to the \u201cEI Contract Backlog\u201d section of the MD&A for further details.<\/em>
\n
\n
\n 5 <\/em>
\n <\/sup>
\n Refer to the \u201cGross Margin before D&A by Product Line and Recurring Gross Margin before D&A\u201d section of the MD&A for further details.<\/em>
\n
\n
\n 6 <\/em>
\n <\/sup>
\n Refer to the \u201cAdjusted EBITDA\u201d section of the MD&A for further details. <\/em>
\n
\n
\n 7 <\/em>
\n <\/sup>
\n Refer to the \u201cNon-IFRS Measures\u201d section of the MD&A for further details.<\/em>
\n
\n
\n 8 <\/em>
\n <\/sup>
\n Determined by using the trailing 12-month period.<\/p>\n

<\/em>\n <\/p>\n

Enerflex\u2019s consolidated financial statements and notes (the \u201cFinancial Statements\u201d) and Management\u2019s Discussion and Analysis (\u201cMD&A\u201d) as at September 30, 2026, can be accessed on the Company\u2019s website at www.enerflex.com<\/a> and under the electronic profile of the Company on SEDAR+ and EDGAR at www.sedarplus.ca<\/a> and www.sec.gov\/edgar<\/a>, respectively.<\/p>\n

\n Q3\/26 FINANCIAL OVERVIEW<\/strong>\n <\/p>\n