Business
Enerflex Ltd. Announces First Quarter 2026 Financial and Operational Results
CONTINUED STRONG OPERATIONAL EXECUTION REFLECTED IN ADJUSTED EBITDA OF $137 MILLION AND RECORD RE...
About this update from Enerflex Ltd.
[{"type":"text","content":"Enerflex Ltd. Announces First Quarter 2026 Financial and Operational Results\nCONTINUED STRONG OPERATIONAL EXECUTION REFLECTED IN ADJUSTED EBITDA OF $137 MILLION AND RECORD RETURN ON CAPITAL EMPLOYED OF 17.3% MANAGING FINANCIAL FLEXIBILITY; BANK ADJUSTED NET DEBT-TO-EBITDA RATIO TO 0.9x AT THE END OF Q1/26 SOLID OPERATIONAL VISIBILITY WITH ES BOOK-TO-BILL RATIO OF 1.5X, ES AND EI BACKLOGS OF $1.3 BILLION  CALGARY, Alberta, May 07, 2026 (GLOBE NEWSWIRE) -- Enerflex Ltd. (TSX: EFX) (NYSE: EFXT) (“Enerflex” or the “Company”) today reported its financial and operational results for the three months ended March 31, 2026. All amounts presented are in U.S. Dollars unless otherwise stated. Q1/26 FINANCIAL OVERVIEW Generated revenue of $584 million compared to $552 million in Q1/25 and $627 million in Q4/25 Higher revenue compared with prior year reflects strong execution and a high level of operational activity in the Engineered Systems (“ES”) product line. The sequential decline relates primarily to lower parts sales and service utilization in the After-Market Services (“AMS”) product line Recorded gross margin before depreciation and amortization of $179 million, or 31% of revenue, compared to $161 million, or 29% of revenue in Q1/25 and $177 million, or 28% of revenue during Q4/25 Energy Infrastructure (“EI”) and AMS product lines generated 65% of consolidated gross margin before depreciation and amortization during Q1/26ES gross margin before depreciation and amortization increased to 19% in Q1/26 compared to 18% in Q1/25, and 18% in Q4/25 primarily related to product mix SG&A was $79 million for the three months ended March 31, 2026, up $22 million from the prior year period, due to higher stock-based compensation. On a sequential basis, SG&A decreased from $83 million, primarily due to lower core SG&A from cost-saving initiatives, partially offset by higher stock-based compensationAdjusted earnings before finance costs, income taxes, depreciation, and amortization (“adjusted EBITDA”) of $137 million compared to $113 million in Q1/25 and $123 million in Q4/25Cash provided by operating activities before changes in working capital (“FFO”) increased to $95 million in Q1/26 comp...