Enerflex Ltd. Announces Third Quarter 2026 Financial and Operational Results and Increased Dividend
Enerflex reported Q3 2026 revenue of $623 million, down from $777 million a year ago on the prior-year Bisat C project, but net earnings rose to $55 million ($0.45/share) and adjusted EBITDA was $129 million. Free cash flow more than doubled to $102 million, net debt fell to $312 million (0.6x EBITDA), and ES bookings hit a record $1.0 billion, lifting backlog to a record $2.1 billion (3.0x book-to-bill). The board raised the quarterly dividend ~17% to $0.035 per share. Behind-the-meter natural gas power generation is the growth driver: including a Q4 award exceeding 1.0 GW for a North American data center, the BTM backlog now tops 1.75 GW with deliveries through 2028.
Key figures
- Eps
- 0.45
- Revenue
- 623000000
- Guidance
- 2026 capex target $185M-$195M (growth capex ~$100M unchanged; maintenance capex lowered to ~$55M from $70-80M; PP&E/infrastructure $30-40M vs prior ~$15M); targeting 10-15% compression fleet growth in 2026
- Revenue Yoy
- -20%
- Cfo
- 147000000
- Fcf
- 102000000
- Roce
- 15.8%
- Net debt
- 312000000
- Es backlog
- 2136000000
- Es bookings
- 1024000000
- Book to bill
- 3.0x
- Net earnings
- 55000000
- Fcf prior year
- 43000000
- Adjusted ebitda
- 129000000
- Dividend increase
- ~17%
- Dividend per share
- 0.035
- Net debt to ebitda
- 0.6x
- Btm power backlog gw
- 1.75
- Compression fleet hp
- 521000
- Compression utilization
- 94%
- Apac divestiture proceeds
- 62000000
- Adjusted ebitda prior year
- 145000000
AI analysis
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