Enerflex's Q1 Net Earnings Climb YoY
Enerflex (EFX.TO)'s first-quarter net earnings increased year over year due to higher gross margin and lower net finance costs, the company said Thursday.Net earnings were US$43 million, or $0.35 per share, up from $24 million, or $0.19 per share. The result beat the earnings per share consensus estimate of $0.27 as compiled by FactSet.Revenue was $584 million, up from $552 million. The result missed the sales consensus estimate of $607.3 million as compiled by FactSetThe increase in revenue reflects strong execution and a high level of operational activity in the Engineered Systems product line, the company said.Adjusted EBITDA was $137 million, rising from $113 million.Enerflex is closely monitoring the conflict in the Middle East. Its operations in the region have operated uninterrupted.Enerflex's operations, mainly in Bahrain and Oman, comprise 17 distinct natural gas and produced water projects and an installed compression and power generation fleet of about 350,000 horsepower.