Strong Operational Performance
Enerflex delivered solid operating results across geographies and product lines, with Energy Infrastructure and After-Market Services generating 69% of gross margin before depreciation and amortization in 2024.
Rapid Deleveraging
Enerflex significantly reduced its leverage, reaching the low end of its target range at 1.5 times by the end of 2024, down from 2.3 times at the end of Q4 2023.
Record Contract Backlog
The company reported a $1.5 billion contract backlog for Energy Infrastructure and a $1.3 billion backlog for Engineered Systems, supporting strong future performance.
Impressive U.S. Contract Compression Business
Operational performance in the U.S. contract compression business was strong, with utilization rates in the mid-90% range and expectations of fleet growth from 428,000 horsepower to over 475,000 horsepower in 2025.
Exceeding Financial Guidance
Enerflex's Q4 results exceeded 2024 guidance, with consolidated revenue of $561 million and gross margin before depreciation and amortization at $174 million, or 31% of revenue.