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Edge16 Oct 2026
Winner, Winner: The Chicken McNugget Story
How a 1940s breeding contest, a Cornell food scientist, and a hedge by Ray Dalio helped McDonald's turn the Chicken McNugget into a fast-food icon.
Enerflex
Enerflex (EFX) investor relations material
Enerflex Q3 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2026 earnings summary29 Oct, 2026
Executive summary
Q3 adjusted EBITDA was $129M and free cash flow was $102M; Engineered Systems bookings reached $1.024B and backlog $2.136B.
Q3 TTM revenue was $2.4B, adjusted EBITDA $517M and free cash flow $290M; recurring sources generated ~67% of gross margin before D&A.
Strategic priorities include productivity, high-return growth in modular gas, power and water solutions, and disciplined capital allocation.
Financial highlights
Q3 revenue was $623M vs. $777M YoY; net earnings were $55M, or $0.45/share, vs. $37M and $0.30/share.
Gross margin before D&A was $176M, or 28.3% of revenue, vs. $206M YoY; adjusted EBITDA was $129M vs. $145M.
Cash from operating activities was $147M, including $51M of working-capital recovery; FCF was $102M vs. $43M YoY and $32M QoQ.
Q3 SG&A was $64M vs. $71M YoY; core SG&A rose to $58M from $53M.
Nine-month revenue was $1.789B vs. $1.944B; net earnings were $128M vs. $121M and adjusted EBITDA $394M vs. $388M.
Outlook and guidance
2026 organic capital spending guidance remains $185M-$195M: ~$100M growth, ~$55M maintenance and $30M-$40M for PP&E and infrastructure.
2026 customer-supported U.S. contract-compression fleet growth target remains 10%-15%; long-lead components are being secured to support growth into 2030.
Engineered Systems backlog provides revenue visibility through 2028; ~$85M of facility and capability investment is planned for 2027.
Full-cycle 2026-2030 objectives target 200+ bps improvement each in adjusted EBITDA margin, cash conversion ratio and ROCE.
Expanded Engineered Systems power-generation projects are expected to be margin-accretive to historical levels, with revenue contribution likely beginning late 2027 into 2028.
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Latest events from Enerflex
- Strong TTM results, record ES backlog, and disciplined growth drive robust Q2 2026 performance.EFX
Q2 2026 - All resolutions passed with no shareholder questions; strategic updates to follow in earnings call.EFXAGM 2026
- Disciplined growth, digital innovation, and strong financials drive a 6% CAGR and record ROCE.EFXInvestor update
- Record free cash flow, reduced leverage, and APAC divestiture support strong 2026 outlook.EFXQ4 2025
- Record Q3 2025 EBITDA, strong backlog, and a 13% dividend hike highlight robust growth.EFXQ3 2025
- Q3 2024 saw higher revenue, improved margins, lower debt, and a 50% dividend increase.EFXQ3 2024
- Record adjusted EBITDA, strong backlog, and improved leverage offset by project and control risks.EFXQ2 2024
- Higher margins, lower leverage, and strong cash flow highlight robust Q1 2025 performance.EFXQ1 2025
- Revenue, margins, and cash flow improved in 2024, supporting a 50% dividend increase and lower debt.EFXQ4 2024
Next Enerflex earnings date
Q4 202625 Feb, 2027
Enerflex
Next Enerflex earnings date
Q4 202625 Feb, 2027
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Frequently asked questions
Enerflex Ltd provides integrated energy infrastructure and service solutions for natural gas, energy transition, and oil and gas markets. The company's services include compression, processing, and electric power generation equipment, along with field maintenance and operations support. Enerflex serves customers globally across upstream, midstream, and energy transition projects. The company is headquartered in Calgary, Canada, and its shares are listed on the TSX.