Nov. 14 at 11:13 AM
$EFXT Enerflex reports Q3 revenue
$601M, consensus
$828.3M
Reports Q3 adjusted EBITDA
$120M vs.
$90M in 3Q23 and
$122M during 2Q24. "Enerflex's Q3 results reflect solid execution across the Company's business lines, as well as our hard work over the last few years building a strong, resilient company positioned for sustainable growth and value creation," said CEO Marc Rossiter. "EI and AMS, our recurring revenue business lines, continue to deliver steady results and we are pleased with the strong execution in our Engineered Systems business line.
We are further enhancing the profitability of our core operations, reducing SG&A, and streamlining our geographic footprint, and look forward to reporting on our continued progress. Thus far in 2024, we have successfully reduced leverage to within our target range of 1.5x to 2.0x, been disciplined with growth capital and continued to reduce the cost of our debt. Visibility across the company's business remains solid, including approximately
$1.6B of contracted revenue supporting our EI assets and a
$1.3B ES backlog. As a result, Enerflex is able to increase direct shareholder returns with the Board approving a 50% increase to our quarterly dividend."
