Net earnings fell to USD 30 million from USD 60 million; higher SG&A weighed, driven by share-based compensation and restructuring tied to the APAC AMS divestment.
Cash flow improves and backlog builds
Operating cash flow improved to USD 89 million from a USD 4 million outflow, reflecting working-capital recovery; free cash flow was USD 32 million.
ES backlog climbed to about USD 1.5 billion; Q2 ES bookings rose to USD 488 million, lifting book-to-bill to 1.6x amid steady compression demand.
Q2 revenue falls on lower Engineered Systems activity
Enerflex posted Q2 2026 revenue of USD 582 million, down from USD 615 million, mainly on lower Engineered Systems activity tied to project sequencing.
Gross margin held at USD 139 million; margin rate rose to 23.9% from 22.6% on higher-margin EI contribution, supported by Bisat-C Expansion.