ADJUSTED EBITDA OF $113 MILLION AND FREE CASH FLOW OF $85 MILLION EI CONTRACT BACKLOG AND ES BACKLOG OF $1.5 BILLION AND $1.2 BILLION, RESPECTIVELY, PROVIDING SOLID OPERATIONAL VISIBILITY REDUCED BANK ADJUSTED NET DEBT-TO-EBITDA RATIO TO 1.3x1 AT THE END OF Q1/25 CALGARY, Alberta, May 08, 2025 (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, 2025. All amounts presented are in U.S. ...

NEW YORK, May 8, 2025 /PRNewswire/ -- The Gross Law Firm issues the following notice to shareholders of Solaris Energy Infrastructure, Inc. (NYSE: SEI).Shareholders who purchased shares of SEI during the class period listed are encouraged to contact the firm regarding possible lead plaintiff appointment. Appointment as lead plaintiff is not required to partake in any recovery.CONTACT US HERE:https://securitiesclasslaw.com/securities/solaris-energy-infrastructure-inc-loss-submission-form/?id=147311&from=4 CL ...

CALGARY, Alberta, May 07, 2025 (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, 2025, Enerflex’s shareholders approved the election of all 8 nominee directors presented in the Company’s Management Information Circular dated March 21, 2025. The shares represented at the Meeting voting on individual nominee directors were as follows: ApprovalAgainstDirectorVotes ForPercenta ...

NEW YORK, May 07, 2025 (GLOBE NEWSWIRE) -- The Gross Law Firm issues the following notice to shareholders of Solaris Energy Infrastructure, Inc. (NYSE: SEI). Shareholders who purchased shares of SEI during the class period listed are encouraged to contact the firm regarding possible lead plaintiff appointment. Appointment as lead plaintiff is not required to partake in any recovery. CONTACT US HERE: https://securitiesclasslaw.com/securities/solaris-energy-infrastructure-inc-loss-submission-form/?id=147132&f ...

Contract Award - Valaris Limited has secured a contract for its ultra-deepwater Valaris DS-15 drillship for work offshore West Africa, with a total contract value of $135 million and an estimated duration of 250 days [1][2] - The contract involves drilling five wells for an undisclosed operator, expected to begin in the third quarter of 2026, and includes priced options for up to five additional wells with an estimated duration of 80 to 100 days [2] Rig Upgrades and Capabilities - As part of the contract, the Valaris DS-15 drillship will undergo upgrades to add an improved managed pressure drilling system, enhancing its operational capabilities [3] - The Valaris DS-15 drillship features a GustoMSC P10,000 design and can drill to a maximum depth of 40,000 feet, positioning the company well for future opportunities in the offshore West Africa region [3] Company Ranking and Comparisons - Valaris currently holds a Zacks Rank 4 (Sell), indicating a less favorable outlook compared to other energy sector stocks [4] - In contrast, Archrock, EQT Corporation, and Galp Energia have better rankings, with Archrock at Zacks Rank 1 (Strong Buy) and EQT and Galp at Rank 2 (Buy) [4]

Core Viewpoint - Coterra Energy Inc. reported strong operational performance in Q1 2025, with adjusted earnings per share of 78 cents, surpassing estimates and the previous year's performance, despite missing revenue expectations due to weaker oil prices. Financial Performance - Adjusted earnings per share for Q1 2025 were 78 cents, beating the Zacks Consensus Estimate of 76 cents and up from 50 cents in the year-ago quarter [1] - Operating revenues were $1.9 billion, missing estimates by $37 million but significantly higher than $1.4 billion from the previous year [2] - Cash flow from operations increased by 33.6% to $1.1 billion, with free cash flow for the quarter amounting to $663 million [13] Production and Pricing - Average daily production rose 8.8% to 746.8 thousand barrels of oil equivalent (Mboe), exceeding the Zacks Consensus Estimate of 740 Mboe [7] - Oil production increased 37.8% to 141.2 thousand barrels (MBbl) per day, although it missed the estimate of 144 MBbl [8] - Average realized crude oil price was $69.73 per barrel, down 7.2% from $75.16 a year ago, slightly missing the estimate of $70 [9] Shareholder Returns - The board declared a quarterly dividend of 22 cents per share, representing a 3.4% annualized yield [3] - Total shareholder returns for the quarter reached $192 million, including $168 million in dividends and $24 million in share repurchases [5] - The company repurchased 0.9 million shares for $24 million at an average price of $27.54 per share [4] Debt Management - Coterra is focused on debt reduction, repaying approximately $250 million during the quarter and planning to retire $750 million in term loans maturing in 2027 and 2028 [6][5] - As of March 31, 2025, the company had $186 million in cash and cash equivalents and a total liquidity of about $2.2 billion [14] Guidance - For Q2 2025, Coterra expects total equivalent production between 710 to 760 thousand barrels of oil equivalent per day [16] - The company has lowered its full-year 2025 capital expenditures range to $2-$2.3 billion [15] - Estimated discretionary cash flow for 2025 is approximately $4.3 billion, with free cash flow around $2.1 billion based on commodity price assumptions [17]

Core Viewpoint - Targa Resources Corp. (TRGP) reported disappointing first-quarter 2025 results, with adjusted earnings per share of 91 cents, missing the Zacks Consensus Estimate of $2.04, primarily due to lower volumes in the Permian Basin and increased operating expenses [1][2]. Financial Performance - Total quarterly revenues were $4.6 billion, matching the prior-year quarter but missing the Zacks Consensus Estimate of $5.3 billion, attributed to lower commodity sales [2] - Adjusted EBITDA for the first quarter was $1.2 billion, an increase from $966.2 million in the prior-year period [2]. Dividend and Share Repurchase - Targa raised its quarterly cash dividend to $1 per common share, totaling approximately $217 million to be distributed on May 15, 2025 [3]. - The company repurchased 651,163 shares for about $124.9 million at an average price of $191.86 per share, with $890.5 million remaining in its share repurchase program as of March 31, 2025 [4]. Operational Updates - Ongoing projects include construction at several plants in the Permian Basin, with the Pembrook II plant expected to begin operations by the third quarter of 2025 [5][6]. - The Gathering and Processing segment reported an operating margin of $602.2 million, up 8% year over year but below the consensus estimate [6][7]. - The Logistics and Transportation segment's operating margin increased 22% year over year to $646.7 million, also missing the consensus estimate [8]. Volume and Cost Analysis - Gathering and Processing volumes increased 11.3% year over year to an average of 6,006 MMcf/d, but fell short of the consensus mark [7]. - Fractionation volumes rose 23% year over year to 979.9 thousand barrels per day, while NGL pipeline transportation volumes increased 18% [9]. - Product costs were $3.3 billion, up 1% year over year, and operating expenses rose 9% to $303.6 million [11]. Capital Expenditures and Guidance - Targa's growth capital expenditures for 2025 are projected between $2.6 billion and $2.8 billion, with maintenance capital expenditures at $250 million [14]. - The company anticipates full-year adjusted EBITDA of $4.65-$4.85 billion, expecting significant growth in the second half of 2025 [13].

Financial Data and Key Metrics Changes - The company reported a total revenue growth of 18% year-over-year, with adjusted EBITDA increasing by 32% [15][18] - Net income attributable to common shareholders was a loss of $5,500,000, equating to a loss of $0.10 per share [17] - The gross margin was reported at 14.7%, consistent with expectations, reflecting a higher mix of revenue from large European EPC contracts [17] Business Line Data and Key Metrics Changes - Revenue from the projects business grew by 23%, driven by strong execution and backlog conversion [15] - Energy asset revenue increased by 31%, attributed to the growth of operating assets, which now total 742 megawatts [16] - The other line of business experienced a revenue decline due to the divestiture of the AEG business at the end of 2024 [17] Market Data and Key Metrics Changes - The total project backlog grew by 22% to $4,900,000,000, with a contracted project backlog increasing by 80% to $2,600,000,000 [18] - The company noted strong performance in Europe and Canada, contributing to the overall growth [15][16] - Approximately 30% of the current total project backlog is attributed to federal government contracts, with military-related customers accounting for two-thirds [8] Company Strategy and Development Direction - The company aims to leverage its expertise in energy efficiency and resiliency to capture emerging infrastructure opportunities [20] - A focus on diversified energy solutions is emphasized, with approximately 50% of the total project backlog involving energy infrastructure projects [12] - The company is optimistic about future growth, particularly in federal contracts, as the current administration prioritizes energy efficiency and infrastructure upgrades [10][20] Management's Comments on Operating Environment and Future Outlook - Management expressed cautious optimism regarding the federal contracts, noting that recent cancellations and pauses have been resolved [9][24] - The company is well-positioned to mitigate near-term price increases due to prior equipment purchases and strong vendor relationships [13] - Management reaffirmed guidance for 2025 revenue and adjusted EBITDA, projecting $1,900,000,000 and $235,000,000 at midpoints, respectively [18] Other Important Information - The company has successfully executed approximately $334,000,000 in financing commitments, including extending its senior secured credit facility [18] - The management highlighted the importance of diversifying the supply chain to mitigate tariff impacts and maintain project profitability [54] Q&A Session Summary Question: Update on federal business contract visibility - Management noted that a canceled contract has been rescoped, and paused contracts have resumed, leading to a positive outlook for federal contracts [24][25] Question: Margin shaping for Q2 and the rest of the year - Management expects gross margins to remain within the guidance range of 15.5% to 16% for the full year, despite a lower margin in Q1 due to a mix of European EPC contracts [27] Question: Impact of blackouts in Southern Europe on infrastructure reliability - Management indicated that increasing reliance on renewable energy without adequate storage solutions could lead to more outages, emphasizing the need for distributed generation [29][31] Question: Projects sensitive to changes in the Inflation Reduction Act - Management has safe harbored the ITC for most projects coming online this year, minimizing short-term impacts from potential changes in the IRA [36] Question: Effects of reduced federal workforce on project approvals - Management has not yet seen negative impacts but acknowledged potential delays in project progression due to administrative challenges [42][59] Question: Tariff implications on procurement and project costs - Management confirmed that new contracts include pass-through language for tariffs, allowing for adjustments based on tariff changes [52][84] Question: Valuation dislocations between private and public markets - Management noted that private valuations for projects remain robust, despite public market fluctuations, indicating strong fundamentals in their offerings [49] Question: Structure of agreements regarding RIN profitability - Management detailed a thorough vetting process for RNG projects, ensuring profitability through careful financial modeling and stress testing [64] Question: Operating expenses and personnel allocation - Management attributed stable operating expenses to cost controls and the divestiture of the AEG business, with improved utilization of personnel for project execution [67]

Financial Data and Key Metrics Changes - The company reported a total revenue growth of 18% and adjusted EBITDA growth of 32% for the first quarter [13][17] - The projects business revenue grew by 23%, while energy asset revenue increased by 31% [14][17] - The net income attributable to common shareholders was a loss of $5,500,000 or $0.10 per share [16] Business Line Data and Key Metrics Changes - The total project backlog increased by 22% to $4,900,000,000, with a contracted project backlog growing by 80% to $2,600,000,000 [17] - The energy asset operating base now stands at 742 megawatts, reflecting significant growth compared to the previous year [14] Market Data and Key Metrics Changes - The company experienced strong performance in Europe and Canada, contributing to the overall revenue growth [14] - Approximately 30% of the current total project backlog is attributed to federal government contracts, with military-related customers accounting for two-thirds [6] Company Strategy and Development Direction - The company aims to leverage federal lands for critical energy infrastructure projects, enhancing its project offerings [10] - The focus remains on diversifying energy solutions to meet the increasing demand for distributed and resilient energy systems [5][11] - The company is optimistic about capturing more infrastructure and resiliency projects as government priorities evolve [19] Management's Comments on Operating Environment and Future Outlook - Management expressed cautious optimism regarding the federal contracts, noting that recent cancellations have been rescoped and paused contracts have resumed [7][9] - The company anticipates continued growth in project revenue, with expectations for Q2 revenue to be in the range of $400,000,000 to $425,000,000 [18] - Management highlighted the importance of energy efficiency projects being budget-neutral, which aligns with government interests [24] Other Important Information - The company has a solid cash position of approximately $72,000,000 and total corporate debt of $270,000,000 [17] - The company is actively managing its supply chain to mitigate potential impacts from tariffs and inflation [12][41] Q&A Session Summary Question: Update on federal business visibility and contract situations - Management noted that a canceled contract has been rescoped and paused contracts have resumed, leading to a positive outlook for federal contracts [22][23] Question: Margins for Q2 and the rest of the year - Management expects gross margins for the full year to be in the range of 15.5% to 16%, despite Q1 being slightly lower due to a mix of European EPC contracts [26] Question: Impact of blackouts in Southern Europe on project opportunities - Management indicated that increasing reliance on renewable energy without adequate storage could lead to more outages, highlighting the need for distributed generation solutions [28][30] Question: Economics of projects sensitive to the Inflation Reduction Act - Management has safe harbored the ITC for many projects, minimizing short-term impacts from potential changes in the IRA [32][33] Question: Effects of reduced federal workforce on project timelines - Management has not yet seen negative impacts but acknowledged potential delays in award conversions due to administrative challenges [38][39] Question: Structure of contracts regarding tariffs - Management confirmed that new contracts include protective language against tariffs, allowing for pass-through adjustments to customers [48][50] Question: Observations on private versus public market valuations - Management noted robust private valuations for projects, despite public market fluctuations, indicating strong fundamentals in their offerings [45][46]

NEW YORK, May 05, 2025 (GLOBE NEWSWIRE) -- Levi & Korsinsky, LLP notifies investors in Solaris Energy Infrastructure, Inc. ("Solaris Energy Infrastructure, Inc." or the "Company") (NYSE: SEI) of a class action securities lawsuit. CLASS DEFINITION: The lawsuit seeks to recover losses on behalf of Solaris Energy Infrastructure, Inc. investors who were adversely affected by alleged securities fraud between July 9, 2024 and March 17, 2025. Follow the link below to get more information and be contacted by a memb ...