Enerflex Ltd. - EFXT STOCK NEWS

Enerflex Ltd. (TSX:EFX, NYSE:EFXT) announced that Sanjay Bishnoi, CFO, will leave the company effective April 10, 2023, to pursue another opportunity. Matthew Lemieux, Vice President, Corporate Development and Treasury, will serve as Interim CFO after Bishnoi's departure. Marc Rossiter, CEO, praised Bishnoi for his leadership during his tenure, especially during the COVID-19 pandemic and the acquisition of Exterran. Lemieux's extensive background includes managing substantial investments and cash management. Enerflex intends to appoint a permanent CFO soon.

Enerflex Ltd. (NYSE: EFXT) reported significant financial results for Q4 2022 and the full year. The company generated record revenue of $690 million in Q4, an 85% increase in annual revenue to $1.8 billion, and improved gross margins. Despite solid operational performance, it reported a net loss of $81 million for Q4 and $101 million for the year due to one-time transaction costs and foreign exchange losses. Enerflex successfully integrated the Exterran acquisition, achieving $40 million in annual synergies. The company aims to maximize cash generation and reduce debt in 2023, with projected adjusted EBITDA between $380-$420 million.

Enerflex Ltd. (NYSE: EFXT), a key player in global energy infrastructure, has announced its financial results release for the year ending December 31, 2022, on March 1, 2023, after market close. These results will be accessible via a news release on the company's website and through SEDAR and EDGAR profiles. Following this, a conference call is scheduled for March 2, 2023, at 8:00 a.m. (MST), where senior management will discuss the results. Interested parties can register for the call to receive dial-in details. Enerflex operates over 100 locations globally, offering energy transition solutions and natural gas services.

Enerflex Ltd. (NYSE: EFXT) has appointed Laura W. Folse to its board of directors, effective immediately. With over 30 years in the energy industry, Folse previously served as CEO of BP Wind Energy, North America, and held various leadership roles at BP and Amoco. Her expertise includes executive leadership in energy transition and corporate risk management. Folse’s appointment aims to enhance Enerflex's energy infrastructure and transition strategies. Enerflex operates globally, providing energy solutions such as natural gas processing and power generation, and is headquartered in Calgary, Alberta.

Denbury Inc. and partners including Enerflex, Project Canary, and others have launched a collective focused on data-driven Measurement, Reporting, and Verification (MRV) for carbon capture and sequestration (CCS). This initiative aims to enhance trust in CCS projects through independent validation and harmonization of existing frameworks. The collective will leverage digital platforms to ensure precise and transparent environmental data. Supported by favorable policies from the Bipartisan Infrastructure Law and the Inflation Reduction Act, the collaboration seeks to set standards for safe CO₂ storage and maximize resource efficiency.

Enerflex Ltd. has adjusted its record date for the dividend from November 24, 2022 to November 29, 2022. The ex-dividend date has also been modified to November 28, 2022. The dividend amount remains at $0.025 per share, with the payment scheduled for January 12, 2023. This change is in recognition of U.S. federal holidays.

Enerflex is a global provider of energy infrastructure solutions, with operations in over 100 locations worldwide.

Enerflex Ltd. (NYSE: EFXT) reported its Q3 2022 results, highlighting a revenue increase to $393 million, marking the sixth consecutive quarter of growth. The company completed its acquisition of Exterran, boosting its backlog to $1.5 billion in natural gas and carbon capture solutions. Despite a net loss of $33 million due to a $48 million goodwill impairment, Enerflex anticipates annual synergies of $60 million from the acquisition. The company aims to reduce its net debt to EBITDA ratio below 2.5 times within 12 to 18 months while maintaining its dividend at $0.025 per share.