- Enerflex reported third-quarter revenue of $601 million, surpassing estimates of $578.1 million.
- Adjusted EBITDA came in at $120 million, exceeding the expected $110.8 million.
- The company achieved a net income of $30 million.
- Enerflex’s backlog stands at $1.27 billion, with bookings reaching $349 million.
- Capital spending guidance for 2024 has been updated to a range of $80 million to $90 million, down from the previous $90 million to $110 million.
- Growth capital spending in 2025 is expected to remain below the long-term average.
- The company has strong business visibility with approximately $1.6 billion of contracted revenue supporting EI assets and a $1.3 billion ES backlog.
- Enerflex has repaid $268 million of debt since the start of 2023 and achieved its target leverage range of 1.5x to 2.0x.
- The Board has approved a 50% increase in the quarterly dividend to enhance direct shareholder returns.
- Analyst opinions include 7 buy ratings, 2 hold ratings, and no sell ratings.
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A look at Enerflex Ltd Smart Scores
| Factor | Score | Magnitude |
|---|---|---|
| Value | 4 | |
| Dividend | 2 | |
| Growth | 2 | |
| Resilience | 2 | |
| Momentum | 5 | |
| OVERALL SMART SCORE | 3.0 |
Smart Score is a compound score for the Company indicating its overall outlook. It is derived by taking an equally weighted average of underlying Factor scores computed by Smartkarma
Analysts at Smartkarma have assessed Enerflex Ltd‘s long-term outlook using the Smart Scores system, which rates various aspects of the company’s performance. Enerflex received a high score of 4 for Value, indicating that the company is seen as offering good value to investors. However, its Dividend, Growth, and Resilience scores are in the middle range at 2, suggesting room for improvement in these areas. On the bright side, Enerflex scored a strong 5 for Momentum, signifying that the company is currently experiencing positive momentum in the market.
Enerflex Ltd is a provider of oilfield services catering to natural gas and petroleum producers globally. The company specializes in offering services related to natural gas compression, oil and gas processing, refrigeration systems, and power generation equipment. Despite some average scores in key areas, Enerflex’s solid Value score of 4 and exceptional Momentum score of 5 indicate positive prospects for the company’s future performance in the market.
Disclaimer: This article by Smartkarma is general in nature and based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Note that our articles may not factor in the latest price-sensitive company announcements or qualitative material.
While all reasonable care has been taken in the preparation, Smartkarma makes no assurance about the accuracy of any generated data or content. All content is indicative only and should be independently checked for accuracy and confirmed before use. Smartkarma accepts no responsibility for any loss or damage caused as a result of any inaccuracy or error within the Lab online tools or generated data.
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