management priorities FULL-YEAR 2023 UPDATE
Wish they had started the news release with "
"Providing meaningful shareholder returns, including a sustainable dividend, continues to be a priority for Enerflex. "
or
Instead of "we prioritized debt reduction to lower net financing costs
FULL-YEAR 2023 UPDATE
Based on our preliminary review of unaudited results, Enerflex estimates 2023 capital expenditures of approximately US$110 million, below our guidance range of US$120 million to US$140 million, as we prioritized debt reduction to lower net financing costs. As at December 31, 2023, Enerflex’s net debt 1 balance was less than US$900 million, which reflects gross debt repayments of approximately US$120 million during the fourth quarter.
"Enerflex will continue to focus on debt reduction and lowering net finance costs in 2024, which will improve our ability to provide shareholder returns over the medium and long-term. Based on our preliminary review of unaudited results, Enerflex estimates 2023 capital expenditures of approximately US$110 million, below our guidance range of US$120 million to US$140 million, as we prioritized debt reduction to lower net financing costs. As at December 31, 2023, Enerflex’s net debt 1 balance was less than US$900 million, which reflects gross debt repayments of approximately US$120 million during the fourth quarter.
Capital spending estimated to be less in 2024 - $90- 110 million uSD.