Welcome to our dedicated page for Enerflex Ltd. news (Ticker: $EFXT), a resource for investors and traders seeking the latest updates and insights on Enerflex Ltd. stock.
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Enerflex (EFXT) announced the voting results of its Annual Meeting of Shareholders, with the approval of all nominee directors. The shareholders also re-appointed Ernst & Young LLP as the auditor but defeated the non-binding advisory vote on executive compensation.
Enerflex reported revenue of $638 million in Q1 2024, with strong performance in the Energy Infrastructure product line. The company faced challenges with delays and increased costs in the EH Cryo Project, impacting gross margin and adjusted EBITDA. Cash provided by operating activities improved significantly to $101 million, with a net debt balance of $743 million. Enerflex maintains a strong liquidity position and focus on debt reduction to enhance shareholder returns.
Enerflex (EFXT) successfully appealed a Mexican labor board decision that ordered the company to pay a former employee $125 million, ruling in favor of the company's arguments. Enerflex plans to release its first-quarter financial results on May 7, 2024, and will hold a conference call on May 8, 2024, to discuss the results.
Effective January 1, 2024, the company changed its presentation currency from Canadian dollars to United States dollars for more relevant financial reporting.
