- Enerflex press release (NYSE:EFXT): Q1 Revenue of $638M (+4.6% Y/Y) beats by $63.93M.
- Cash provided by operating activities was $101 million, which included net working capital recovery of $83 million.
- Enerflex’s bank-adjusted net debt-to-EBITDA ratio was approximately 2.2x, compared to 2.3x at the end of Q4/23 and 2.9x at the end of Q1/23.
- Outlook: Complementing Enerflex’s recurring revenue businesses is the Engineered Systems product line. Engineered Systems results will be supported by a strong backlog of approximately $1.3 billion in projects as at March 31, 2024, with the majority of this work expected to convert to revenue over the next 12 months.
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