A maker of natural gas compression, processing, and power generation equipment, Enerflex designs, builds, installs, and services the machinery that moves gas from the wellhead to the pipeline. Founded in Calgary in 1980 by John Aldred, it grew from a regional shop into a global energy-infrastructure player and expanded further by acquiring Exterran in 2022. Aldred himself arrived in Canada from England in 1967 with just a few hundred dollars and started out as a mechanic's helper in Winnipeg.
Enerflex reports Q2 2026 adjusted EBITDA of $128M, free cash flow of $32M, and ES backlog of $1.5B.
Revenue for Q2 2026 was $582 million, down from $615 million in Q2 2025, with net earnings of $30 million ($0.25 per share) versus $60 million ($0.49 per share) in the prior year.
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Adjusted EBITDA was $128 million in Q2 2026, compared to $130 million in Q2 2025, and free cash flow improved to $32 million from a use of $39 million in Q2 2025.
Engineered Systems backlog reached $1.5 billion at June 30, 2026, with bookings of $488 million in Q2 2026 and a book-to-bill ratio of 1.6x.
The company extended its revolving credit facility maturity to June 30, 2029, and increased the accordion feature to $200 million.
The Board declared a quarterly dividend of CAD $0.0425 per share, payable September 2, 2026, to shareholders of record on August 19, 2026.
Enerflex is on track to divest most of its Asia Pacific operations to INNIO Group, with closing expected in the second half of 2026.
Enerflex director Fernando Assing to resign effective July 17, 2026
Fernando Assing will resign from Enerflex's Board of Directors effective July 17, 2026, to focus on other professional commitments, including his role as CEO of Camin Cargo Control.
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Assing joined the Board in August 2020 and served on the Human Resources and Compensation Committee throughout his tenure.
The Board has initiated a search for a qualified replacement director.
Board Chair Kevin Reinhart thanked Assing for his guidance and contributions since 2020.
Enerflex extends revolving credit facility to June 2029, ups accordion to $200M
The revolving credit facility availability remains unchanged at $800 million, with an accordion feature increased to $200 million (from $50 million) subject to lender consent.
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Enerflex entered an amended and restated credit agreement on June 24, 2026, extending its syndicated secured revolving credit facility maturity by three years to June 30, 2029.
As of March 31, 2026, Enerflex had drawn $162 million on the facility; Royal Bank of Canada acted as agent and all current syndicate members renewed commitments.
Enerflex also maintains a $70 million unsecured credit facility supported by Export Development Canada performance guarantees.
Enerflex plans to release Q2 2026 financial results on August 6, 2026, before market open, followed by a conference call and webcast at 8:00 a.m. MT.
Enerflex Ltd. announces virtual annual and special meeting of shareholders for May 6, 2026
Shareholders will vote on fixing the number of directors at ten, electing ten director nominees, appointing Ernst & Young LLP as auditors, an advisory say-on-pay resolution, and approval of a new omnibus incentive plan.
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Enerflex Ltd. will hold its annual and special meeting of shareholders virtually on Wednesday, May 6, 2026 at 1:30 p.m. Mountain Daylight Time.
The board of directors unanimously recommends voting FOR all resolutions.
Proxies must be received by TSX Trust Company by 1:30 p.m. MDT on May 4, 2026.
Meeting materials are available electronically under the notice and access model on SEDAR+ and at docs.tsxtrust.com/EFX.