Enerflex Ltd.

Good day and thank you for standing by. Welcome to the Enerflex second quarter 2026 earnings conference call. At this time, all participants are in a listen-only mode. After the speaker's presentation, there will be a question and answer session. To ask a question during the session, you will need to press star 11 on your telephone. You will then hear an automated message advising your hand is raised. To withdraw your question, please press star 11 again. Please be advised that today's conference is being recorded. I would now like to hand the conference over to your first speaker today, Jeff Fetterly, Vice President of Corporate Development and Capital Markets. Please go ahead.

Thank you, Shannon, and good morning, everyone. With me today are Paul Mahoney, Enerflex's President and CEO, Preet Dhindsa, Senior Vice President and Chief Financial Officer, and Ben Park, Enerflex's Controller. Before I turn it over to Paul, I'll remind everyone that today's discussion will include non-IFRS and other financial measures, as well as forward-looking statements regarding Enerflex's expectations for future performance and business prospects. Forward-looking information involves risks and uncertainties, and the stated expectations could differ materially from actual results or performance. For more information, refer to the advisory statements within our news release, MD&A, and other regulatory filings, all available on our website and under our CDAR Plus and EDGAR profiles. As part of our prepared remarks, we will be referring to slides in our updated investor presentation, which is available through a link on this webcast and on our website under the investor relations section. I'll now turn it over to Paul.

Thanks, Jeff, and thank you all for joining us on this morning's call. During the second quarter, Enerflex delivered solid operational performance, reflecting disciplined execution and our focus on operational excellence. Results continue to be underpinned by our energy infrastructure and aftermarket services business lines, while the engineered systems business maintains strong commercial momentum. As we highlighted during our investor update in May, Enerflex is focused on competing intentionally in the markets where we can win, improving relentlessly through operational excellence and delivering disciplined growth for our shareholders. We are moving with urgency to execute on these priorities, including initiatives to enhance collaboration, leverage our scale, improve operational efficiency, and strengthen our capabilities across the business. Let me speak in more detail about near-term performance. Starting with engineered systems, bookings remained very strong during the quarter at $488 million compared to a trailing eight-quarter average of $363 million. The year is off to a strong start with first-half bookings approaching $1 billion or approximately 75% of our full-year bookings during 2025. Strong bookings has translated into increasing visibility for our ES business, with a book-to-bill ratio of 1.5 times during the first half of 2026 and our forward visibility for ES revenue increasing to $1.5 billion, the highest level in Enerflex's history. ES bookings during the second quarter reflect a broad mix of end markets, including cryogenic gas processing, refrigeration for LNG exports, large compression stations, and power generation. The outlook for our engineered systems business remains strong, supported by healthy demand for compression and processing equipment across our key markets, together with increasing natural gas, associated liquids, and electric power generation activity. Interest in distributed power solutions also continues to build, with our pipeline of opportunities now exceeding seven gigawatts across data center and other power generation applications. Turning to aftermarket services, results improved during the second quarter after a slower start to the year in North America. Performance reflected steady customer maintenance spending, particularly in regions where we also operate energy infrastructure assets. highlighting the strength of our integrated platform and competitive positioning across our core markets. As highlighted during our investor update, our core priorities for the AMS business include, one, growing profitable services, notably in our retrofit segment, two, optimizing costs through base and focus and pooling of resources across AMS and contract compression business lines, and three, capturing opportunities for installation and O&M services associated with power generation. The energy infrastructure business continues to deliver solid performance, supported by approximately $1.2 billion of contracted revenue over the remaining terms of our customer contracts. Within this segment, Enerflex's U.S. contract compression business continues to perform well, led by increasing natural gas production in the Permian Basin. Utilization was strong at 93% across a fleet of approximately 496,000 horsepower. Additional operating KPIs for the business are available on slides 33 and 34 of our investor presentation. We continue to target customer supported fleet growth of 10 to 15% during 2026, with the majority of additions in the second half of the year. We are also securing long lead time components to support fleet growth in 2027, 2028, and 2029. Turning to our international energy infrastructure operations, which are outlined on slides 31 and 36, this portfolio continues to be supported by a strong contract position with a weighted average remaining term of approximately five years providing durable and predictable cash flows that we expect will continue to support Enerflex's financial performance for years to come. I'd also like to touch briefly on our operations in the Middle East. While we continue to closely monitor the situation in the region, our operations have remained uninterrupted to date. The safety of our people remains our highest priority and our local teams continue to execute established response processes and contingency plans while maintaining reliable operations for our customers. Today, Enerflex's operations in Bahrain and Oman comprise of 17 projects supported by an installed fleet of approximately 350,000 horsepower across compression and power generation applications. We remain focused on supporting our customers while continuing to execute safely and reliably across the region. Let me now speak about progress we are making on the strategic priorities outlined during our investor update in May. We continue to advance a disciplined, enterprise-wide approach to operational excellence. We are also progressing the professionalization of our $1.9 billion per year enterprise-wide supply chain, driving productivity improvements and modernizing IT and automation systems. We expect each of these initiatives to be meaningful contributors in achieving our financial objectives. Preet will provide additional detail on the financial impact and targets associated with these priorities during his prepared remarks. We've developed five specific workstreams, with meaningful projects underway in each region and across key partner functions. One example is the recent alignment of our Canadian and U.S. operations under a unified North American framework. This change is designed to unlock greater collaboration, leverage our scale, drive standardization, improve operational efficiency, and strengthen customer service. EnerFlex reached several important Reliacor milestones in the quarter. Advancing the company's digitally connected service ecosystem, we launched our Houston-based remote operations center, leveraging smart dispatch technology to connect customer assets with technical expertise and intelligent workflows, as well as developed and deploying EnerFlex's first Reliacor Edge devices. Together, these capabilities extend service coverage, accelerate issue resolution, and build the foundation for advanced analytics and predictive maintenance capabilities that are expected to improve asset performance, reduce downtime, and create long-term economic value for both EnerFlex and our client partners. Let me conclude by reiterating that our priorities remain clear. As a company, we are focused on improving productivity across our global operations, pursuing the highest value growth opportunities in markets where Enerflex can win, and allocating capital in a disciplined manner to drive long-term value creation. We are encouraged by early progress, and we remain focused on building momentum as we execute against these initiatives. We look forward to providing updates on our progress over the coming quarters. With that, I'll turn the call over to Preet to speak to the financial highlights.