Enerflex Ltd. (EFXT) experienced a significant pre-market decline of 6.65% on Thursday. The sharp drop followed the release of the company's first-quarter financial results.
The energy infrastructure company reported earnings per share of $0.35 for the quarter, which exceeded the FactSet consensus estimate of $0.27. However, revenue came in at $584 million, falling short of the $607.3 million analysts had expected.
While revenue showed year-over-year growth from $552 million, the miss against market expectations appears to have driven negative investor sentiment in the pre-market session, outweighing the positive earnings beat.
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