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' ...

Financial Performance & Strategy - Enerflex aims to deliver shareholder value while meeting energy demands[1] - The company is focused on debt reduction and expects to increase returns to shareholders once the target leverage range is achieved[21] - Recurring sources are expected to contribute 55% to 65% of gross margin before depreciation and amortization[19] - The company reduced bank-adjusted net debt-to-EBITDA ratio to 2.2x at the end of Q1 2024, compared to 2.3x at the end of Q4 2023[11, 20] Market Position & Operations - Enerflex is a global market leader in natural gas and energy transition solutions[9, 46] - The company has an Engineered Systems backlog of $1.3 billion, with the majority expected to be executed in 2024[8, 134, 135] - Approximately 75% of the company's fleet operates in the Permian, and about 20% of the total fleet is electric drive[14] - Over 50% of Energy Infrastructure revenue and payments are generated in Gulf Cooperation Council (GCC) countries[31] ESG & Sustainability - Enerflex is committed to environmental stewardship, social responsibility, and high standards of safety and corporate governance[23] - The company's Scope 1 Emissions Intensity decreased by approximately 40% since 2021[43] - Enerflex's Total Recordable Incident Rate (TRIR) decreased 16% since 2021[52]

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, ...

HOUSTON--(BUSINESS WIRE)--NOV Inc. (NYSE: NOV) announced today the appointment of Patricia Martinez to NOV’s Board of Directors, effective March 6, 2024. “ We are delighted to welcome Patricia Martinez to NOV’s board of directors,” said Clay Williams, Chairman, President, and Chief Executive Officer. “ Patricia brings extensive industry experience to our board, including growing energy businesses in international markets, and more recently guiding and developing projects within the energy transition rangin ...

Financial Data and Key Metrics Changes - Enerflex reported consolidated revenue of $782 million for Q4 2023, consistent with Q3 levels, driven by strong performance from recurring businesses [19] - Adjusted EBITDA for Q4 was $126 million, an increase from $122 million in Q3, with gross margin before depreciation and amortization rising to $216 million or 28% of revenue compared to 26% in Q3 [11][19] - Free cash flow for Q4 was $185 million, a significant improvement from a cash use of $46 million in Q4 2022 [27][28] Business Line Data and Key Metrics Changes - The Engineered Systems product line recorded bookings of $327 million in Q4 and $1.7 billion for the year, reflecting strong demand across three continents [5][30] - Energy Infrastructure and aftermarket services generated 67% of consolidated gross margin before depreciation and amortization in Q4, with aftermarket services achieving a gross margin of 22%, the highest in over two years [20][21] - Engineered Systems gross margin improved to 18% as higher-margin backlog was executed [21] Market Data and Key Metrics Changes - Approximately 50% of Enerflex's total gross margin in 2023 was contributed by markets outside North America [4] - The U.S. contract compression asset operated at high utilization rates, averaging 93% in Q4 [5] Company Strategy and Development Direction - Enerflex is focused on enhancing operational effectiveness in energy infrastructure and maximizing performance across its geographic platform [9][15] - The integration of Exterran is nearing completion, with updated synergy guidance reflecting annual run rate synergies exceeding the previous target of $60 million [14] - The company aims to reduce debt and enhance financial flexibility, with a target leverage ratio of around 2.3 times [15][29] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the underlying macro drivers for the business, citing strong demand for energy infrastructure and low-emission natural gas solutions [17] - The outlook for 2024 is supported by a highly contracted energy infrastructure product line and a $1.5 billion backlog in Engineered Systems, with expectations for the majority to convert into revenue within the next 12 months [30] Other Important Information - Enerflex plans to maintain a disciplined capital program in 2024 with total capital expenditures of $90 million to $110 million, focusing on maintenance and strategic growth opportunities [31] - A quarterly dividend of $0.025 per share has been declared, payable on May 1, 2024 [32] Q&A Session Summary Question: Market position of the combined business post-integration - Management highlighted that the merger has allowed Enerflex to achieve the largest market share in specific product lines in the Eastern Hemisphere and Latin America, focusing on operational effectiveness [38][39] Question: Further dispositions beyond manufacturing footprint - Management stated they regularly review opportunities to optimize their geographic footprint, focusing on core countries like the U.S., Brazil, and Mexico, while not actively seeking to sell noncore assets unless it enhances shareholder value [43][44] Question: Long-term capital allocation strategy - Management emphasized that reducing debt is the priority for 2024, with future capital allocation decisions to be made once the target debt range is achieved [52][54] Question: Update on Engineered Systems bookings and exposure to natural gas prices - Management noted that recent bookings are primarily for international markets, with ongoing constructive conversations with clients despite potential slowdowns in North American markets [84][85] Question: Update on the Pearl project in Kurdistan - Management confirmed that the project is on track for completion in the second half of 2024 [92] Question: Mitigation of foreign exchange losses in Argentina - Management indicated that the Argentine business remains profitable when excluding foreign exchange impacts, with expectations for reduced FX noise in 2024 compared to 2023 [93][95]