FX.co ★ Enerflex Q3 Net Profit Surges, Lifts Dividend By 50%

Enerflex Ltd. (EFX.TO), a company specializing in energy infrastructure and transition solutions, announced its financial results for the third quarter on Thursday, showcasing a significant increase in earnings to $30 million, a stark rise from last year's $4 million for the same quarter.

The company's EBITDA increased to $122 million, compared to €77 million in the previous year.

Revenue saw an improvement, reaching $601 million, up from the previous year's $580 million. This increase in revenue is largely due to additional project volumes in the Engineered Systems segment, as well as greater utilization and price hikes on renewed contracts within the Energy Infrastructure segment.

Additionally, the Board of Directors decided to increase the quarterly dividend by 50%, raising it to C$0.0375 per share. This dividend will be distributed on January 16, 2025, to shareholders who are on record as of November 26, 2024.