Enerflex Q3 free cash flow rises to $102 million as net earnings climb
Key points
- Enerflex (NYSE:EFXT) reported third-quarter 2026 net earnings of $55 million, up from $37 million a year earlier, despite lower revenue and adjusted EBITDA.
- Cash generation improved: Free cash flow rose to $102 million from $43 million, including a $51 million working capital recovery. Net debt declined to $312 million.
- Enerflex raised its quarterly dividend by approximately 17% to US$0.035 per common share as it continued investing in Engineered Systems capacity.
Enerflex (NYSE:EFXT) reported third-quarter 2026 net earnings of $55 million, up from $37 million a year earlier, as stronger earnings and cash generation offset declines in revenue and adjusted EBITDA.
Revenue fell to $623 million from $777 million, while adjusted EBITDA declined from the prior-year period to $129 million. Basic earnings per share increased to $0.45 from $0.30.
Free cash flow increased to $102 million from $43 million, including a $51 million recovery in working capital.
Net debt declined to $312 million from $584 million a year earlier.
Engineered Systems bookings reached $1.024 billion, lifting backlog to $2.136 billion.
Including awards received in early fourth-quarter 2026, Enerflex's behind-the-meter natural gas-fired power generation backlog exceeded 1.75 gigawatts.
Enerflex completed the sale of most of its Asia Pacific operations to INNIO Group for $62 million.
The company also increased its quarterly dividend by approximately 17% to US$0.035 per common share, effective with the November 2026 payment, while continuing investments to expand Engineered Systems capacity.
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