Core Points - Enerflex has extended the maturity of its revolving credit facility to October 2026 and increased its availability to $800 million, providing ample liquidity to support its global business [1][3][15] - The company is targeting a bank-adjusted net debt-to-EBITDA ratio of 1.5x to 2.0x as part of its new leverage framework [5][18] - Enerflex plans to repay its existing term loan, which had outstanding drawings of $120 million as of March 31, 2024, using cash on hand and the expanded revolving credit facility [16][6] Financial Strategy - The new leverage framework is supported by the company's U.S. contract compression fleet and international Energy Infrastructure product line, which is expected to generate approximately $1.6 billion in revenue during their current remaining terms [5][18] - The company maintains a $70 million unsecured credit facility, of which $36 million had been utilized as of March 31, 2024 [4][15] - Enerflex aims to provide meaningful returns to shareholders and will re-evaluate capital allocation priorities once it operates within its target leverage range, potentially increasing dividends, share repurchases, and further debt repayment [17][18] Management Commentary - Preet Dhindsa, Senior Vice President and CFO, expressed satisfaction with the extension and expansion of the revolving credit facility, highlighting its role in reducing finance costs and optimizing the debt structure [6][18] - The company remains focused on generating free cash flow, repaying debt, and lowering finance costs throughout 2024 [18]

Core Points - Enerflex Ltd. has extended the maturity of its secured revolving credit facility to October 13, 2026, and increased its availability to $800 million from $700 million, providing ample liquidity to support its global business [2][10][13] - The company is introducing a new target leverage framework, aiming for a bank-adjusted net debt-to-EBITDA ratio of 1.5x to 2.0x, which is supported by its U.S. contract compression fleet and international Energy Infrastructure product line [21][22] - Enerflex plans to repay its existing term loan of $120 million using cash on hand and the expanded revolving credit facility, reflecting ongoing efforts to reduce finance costs and optimize its debt structure [20][22] Financial Strategy - The company maintains a $70 million unsecured credit facility, with $36 million utilized as of March 31, 2024, supported by performance security guarantees from Export Development Canada [11] - Once operating within its target leverage range, Enerflex expects to re-evaluate capital allocation priorities, which may include increased dividends, share repurchases, and additional growth capital spending [12][21] - The Energy Infrastructure product line is projected to generate approximately $1.6 billion in revenue during its current remaining terms, underpinning the new leverage framework [21] Management Insights - Senior management expressed satisfaction with the extension and expansion of the revolving credit facility, highlighting the importance of financial flexibility and the path to increasing shareholder returns over time [13][22] - The company is focused on generating free cash flow, repaying debt, and lowering finance costs in 2024 [13]

Hi. Marc Rossiter Yes. Sure, Tim. Thank you. And to the remind listeners we executed two significant treated water solutions projects in Oman in 2022 and early 2023. One of those facilities, the one that was â in fact we received the order to expand was commissioned in November 2022. It immediately met all the performance targets exceeded our OpEx estimates. And within a few months, the customer engaged us on an expansion of that facility and we got that order in the first quarter. Tim Monachello Enerflex' ...

EFX 55-65% CAD$0.10 /share Committed to delivering the fuel of the future creating shareholder value as we meet demand Compelling Shareholder Value Proposition Differentiated global platform features synergistic product lines across the energy value chain Disciplined investments focused on profitability, financial strength, and generating strong returns STRATEGIC PRIORITIES Pay sustainable base dividend and generate strong cash flow to drive medium to long-term shareholder returns. 800 1) Source: Internatio ...

Enerflex (EFXT) came out with a quarterly loss of $0.15 per share versus the Zacks Consensus Estimate of $0.10. This compares to earnings of $0.08 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -250%. A quarter ago, it was expected that this energy infrastructure provider would post earnings of $0.07 per share when it actually produced a loss of $0.09, delivering a surprise of -228.57%.Over the last four quarters, the company ...

CALGARY, Alberta, May 07, 2024 (GLOBE NEWSWIRE) -- Enerflex Ltd. (TSX:EFX) (NYSE:EFXT) ("Enerflex" or the "Company"), announces that at its Annual Meeting of Shareholders (the "Meeting") held virtually on May 7, 2024, Enerflex's shareholders approved the election of all 10 nominee directors presented in the Company's Management Information Circular dated March 15, 2024. The shares represented at the Meeting voting on individual nominee directors were as follows:  ApprovalAgainstDirectorVotes ForPercentageVo ...

CALGARY, Alberta, May 07, 2024 (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, 2024. Effective January 1, 2024, the Company changed its presentation currency from Canadian dollars ("CAD") to United States dollars ("USD") to provide more relevant reporting of the Company's financial position. As a result, all amounts presented in this release are in USD unless otherwise stated. Q1 2 ...

CALGARY, Alberta, April 29, 2024 (GLOBE NEWSWIRE) -- Enerflex Ltd. (TSX:EFX) (NYSE:EFXT) ("Enerflex" or the "Company") today provided an update with regard to an ongoing legal proceeding in Mexico. The Tenth Circuit Collegiate Court on Labor Matters in Mexico (the "Court") has published a decision setting aside a January 31, 2022 decision of a Labor Board in the State of Tabasco, Mexico (the "Labor Board") that had ordered subsidiaries of Exterran Corporation (now subsidiaries of Enerflex) to pay a former e ...

onurdongel *All financial data in this article is expressed in Canadian dollars. Enerflex Ltd. (NYSE:EFXT) is a global energy infrastructure supplier who operates out of Canada and sells their products globally. Over the past couple of years, the company has been working on implementing cost synergy strategies related to its merger with Exterran Corporation. After a good fourth quarter earnings report, I have become bullish on Enerflex's future. Enerflex had a good 2023. In the company's first full year sin ...

CALGARY, Alberta, March 11, 2024 (GLOBE NEWSWIRE) -- Enerflex Ltd. (TSX:EFX) (NYSE:EFXT) ("Enerflex" or the "Company") is pleased to announce the appointment of Thomas B. Tyree, Jr. to its Board of Directors (the "Board"), effective March 11, 2024.   Mr. Tyree is a seasoned energy executive and investment banker with deep expertise in strategy development, capital markets, and corporate finance. He has extensive experience leading and advising public and private energy companies, including Antero Resources, ...