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Enerflex Ltd. Announces Second Quarter 2026 Financial and Operational Results

EFXT
  • Enerflex reported adjusted EBITDA of $128 million, free cash flow of $32 million, & return on capital employed of 15.4% for the quarter ended June 30, 2026.
  • Engineered Systems (ES) backlog reached a record $1.5 billion at the end of Q2/26, providing strong operational visibility.
  • Revenue for the quarter was $582 million, a decrease from $615 million in Q2/25, primarily driven by project sequencing & resource allocation for U.S. fleet expansion.
  • ES bookings totaled $488 million in Q2/26, resulting in a book-to-bill ratio of 1.6x & a trailing eight-quarter average of 1.1x.
  • The Company expects organic growth capital expenditures for 2026 to be at the top end of the revised guidance range of $185 million to $195 million.
  • Enerflex is on track to expand its U.S. contract compression fleet by 10-15% year-over-year in 2026, with most additions expected in the second half.
  • Net debt decreased to $455 million, reducing the bank-adjusted net debt-to-EBITDA ratio to 0.8x.
  • The Company extended its revolving credit facility maturity to June 30, 2029, & increased the accordion feature to $200 million.
  • Enerflex announced a definitive agreement to divest the majority of its Asia Pacific operations to INNIO Group, with completion expected in the second half of 2026.
  • A quarterly cash dividend of CAD $0.0425 per share was declared, payable on September 2, 2026, to shareholders of record on August 19, 2026.
  • Operations in the Middle East (Bahrain & Oman) remained uninterrupted despite regional conflicts, with a fleet of approximately 350,000 horsepower.
  • The Company aligned its Canadian & U.S. operations under a unified North American framework to enhance collaboration & operational efficiency.
  • Enerflex secured a commitment for gas compression stations in Argentina's Vaca Muerta play, supported by a long-term contract.
  • New ReliaCore™ milestones were achieved, including the launch of a Houston Remote Operations Center & deployment of the first ReliaCore EDGE devices.