Chart Industries

Chart Industries, Inc. engages in the manufacturing of engineered equipment for the industrial gas, energy, and biomedical industries. It operates through the following business segments: Cryo Tank Solutions, Heat Transfer Systems, Specialty Products and Repair, Service & Leasing, and Corporate. The Cryo Tank Solutions segment supplies bulk, microbulk, and mobile equipment used in the storage, distribution, vaporization, and application of industrial gases. The Heat Transfer Systems segment supplies mission engineered equipment and systems used in the separation, liquefaction, and purification of hydrocarbon and industrial gases. The Specialty Products segment supplies products used in specialty market applications including hydrogen, HLNG vehicle tanks, food and beverage, space exploration, lasers, cannabis, and water treatment. The Repair, Service, and leasing segment includes repair and service centers globally, which provides installation, service, repair, maintenance, and refurbishment of cryogenic products, as well as global equipment leasing solutions. The Corporate segment includes operating expenses for executive management, accounting, tax, treasury, corporate development, human resources, information technology, investor relations, legal, internal audit, and risk management. The company was founded in 1992 and is headquartered in Ball Ground, GA.

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Chart Industries posts record results, eyes Howden acquisition synergies

Chart Industries reported strong financial performance in Q4 2022, with record results and a positive outlook for 2023, driven by market demand and strategic acquisitions.
The pending Howden acquisition is expected to bring significant synergies and market opportunities, enhancing Chart's competitive position and financial performance.
While the company faces challenges in addressing price increases and competition in the LNG market, it remains focused on leveraging strengths and growth opportunities.
Overall, Chart Industries is well-positioned to capitalize on market trends, innovation, and operational efficiencies to drive continued growth and profitability.

Chart Industries (GTLS) reports record Q1 sales and optimistic 2023 outlook

Chart Industries (GTLS) posts strong Q1 2023 results with record sales and margin improvements post-Howden acquisition. Outlook for 2023 is optimistic, focusing on maintaining growth momentum and achieving set targets. Market acceptance of innovative technologies and commercial synergies drive confidence in future performance.

Chart Industries surpasses Q2 expectations, eyes early debt reduction

Chart Industries excelled in Q2 2023, achieving record results and making progress on strategic initiatives. Strong focus on synergies, divestitures, and margin growth driving performance. Challenges include maintaining margins, securing contracts with new technology, and navigating regulatory uncertainties. Opportunities lie in revenue catch-up, hydrogen market developments, and bullish LNG outlook.

Chart Industries Inc. reports record Q3 performance and eyes LNG opportunities

Chart Industries Inc. delivered strong financial performance in Q3 2023, with record sales, backlog, and commercial synergies exceeding expectations.
The company is poised for revenue growth above $1 billion, with a focus on margin improvement, global opportunities, and strategic investments.
Challenges include managing input costs, project delivery schedules, and sustaining synergies amidst market uncertainties and industry dynamics.
Opportunities lie in new LNG qualifications, continued synergy prospects, high-velocity hub projects, and expanding into emerging markets like hydrogen.

Chart Industries (GTLS) achieves record Q4 results, eyes growth opportunities

Chart Industries delivered exceptional Q4 2023 results with record sales and strong operational margins, driven by successful integration of Howden. Despite project delays and permitting uncertainties, the company remains optimistic about growth opportunities in various end markets and continues to focus on financial goals.

Chart Industries reports record Q1 performance and eyes market expansion

Chart Industries' Q1 2024 performance was robust, with strong sales growth and margin performance.
While facing challenges like declining orders in certain segments and negative free cash flow, the company remains focused on cost management and optimization.
Opportunities lie in increasing project sizes, collaborations in carbon capture, and growth in LNG infrastructure, positioning Chart Industries for future success.
With a record backlog and a focus on medium-term targets, Chart Industries is poised for continued growth and margin improvement.

Chart Industries (GTLS) achieves record sales and margins in Q2 2024

Chart Industries (GTLS) delivered outstanding Q2 2024 results with record sales and profitability metrics. The company's focus on cost synergies, strong margins, and diverse commercial wins underscore its resilience and growth potential. Despite some challenges in guidance updates, Chart Industries is well-positioned to capitalize on opportunities in various sectors.

Chart Industries excels in Q3, eyes growth in sustainable sectors

Chart Industries' Q3 2024 performance reflects strong financial results, driven by increased orders, sales, and improved margins.
The company's strategic focus on cash culture, balance sheet optimization, and diversified revenue streams positions it for sustainable growth.
While managing net debt remains a challenge, Chart Industries has opportunities for growth in key segments and future revenue expansion.
Overall, Chart Industries shows resilience and potential for continued success in navigating market dynamics and driving shareholder value.

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Chart Industries closed a $4.4 billion deal for Howden, increasing its service and repair business and generating cost synergies. The company reported record-breaking second quarter results, with a total backlog of ~$4 billion and strong order growth momentum. Chart Industries' valuation suggests a fair value estimate of $190 per share is warranted, with potential upside should free cash flow come in better than expected.

Chart Industries' Free Cash Flow Could Surprise To The Upside

Chart Industries' stock is climbing at a healthy rate back towards previous levels despite concerns about high debt levels from a recent acquisition. The company's key debt ratio has crossed an important threshold, easing market concerns and setting the stage for deleveraging faster than planned. Business is booming for Chart Industries, with a strong product mix and diversification away from the oil and gas industry.

Chart Industries: Climbing Backlog Is Undoing The Debt Disaster

NELSON, New Zealand and ATLANTA, Aug. 24, 2023 (GLOBE NEWSWIRE) -- Against the backdrop of a volatile carbon dioxide (CO2) supply chain, Eddyline Brewery became the first craft brewery in New Zealand to implement Chart Industries' (NYSE: GTLS) Earthly Labs' carbon capture to meet their CO2 needs and reduce greenhouse gas emissions. Earthly Labs CiCi® Oak technology allows Eddyline to capture waste carbon dioxide (CO2) produced during fermentation, purify it, and reuse it to carbonate the beer, purge tanks, clean kegs and package beer.

EDDYLINE BREWING IS THE FIRST NEW ZEALAND BREWERY TO INSTALL CHART INDUSTRIES' EARTHLY LABS CO2 CAPTURE TECHNOLOGY

ATLANTA, Ga., Aug. 18, 2023 (GLOBE NEWSWIRE) -- Chart Industries, Inc. (NYSE: GTLS) (“Chart”) announced that today it has closed its sale of the Roots™ business (“Roots”) to Ingersoll Rand Inc. (NYSE: IR) (“Ingersoll Rand”) for an all-cash purchase price of $300 million, representing an attractive low-teens adjusted EBITDA multiple. The proceeds from the sale are being used for debt paydown.

Chart Industries completes the sale of its Roots™ business to Ingersoll Rand

Ingersoll-Rand

DAVIDSON, N.C.--(BUSINESS WIRE)--Ingersoll Rand Inc. (NYSE:IR), a global provider of mission-critical flow creation and industrial solutions, has completed the acquisition of Howden Roots LLC (“Roots”) from Chart Industries, Inc. (NYSE: GTLS) in an all-cash transaction of approximately $300 million. Roots expands Ingersoll Rand's product portfolio with new and incremental low-pressure compression and vacuum technologies. The business goes to market under the widely recognized Roots brand, which.

Ingersoll Rand Completes Acquisition of Roots from Chart Industries

Babcock & Wilcox Enterprises

The agreement is a significant step towards developing Vietnam's first net zero industrial parks and mobilizes provincial action plans to support national decarbonization goals. HOUSTON , Aug. 16, 2023 /PRNewswire/ -- At a conference on the Master Plan Announcement and Investment Promotion of Long An Province, Vietnam, Energy Capital Vietnam (ECV), SaigonTel (HOSE: SGT), Allotrope Partners LLC, Chart Industries, Inc. (NYSE: GTLS), and Babcock & Wilcox (NYSE: BW) signed a cooperation agreement to develop Vietnam's first net zero industrial parks and advance its national carbon emissions goals.

Energy Capital Vietnam Signs Cooperation Agreement with SaigonTel and Allotrope Partners to Lead Green Infrastructure Development Alliance in Vietnam

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ATLANTA, Aug. 10, 2023 (GLOBE NEWSWIRE) -- Today, Chart Industries, Inc. (NYSE: GTLS) (“Chart”), a leading global engineering design firm and manufacturer of highly engineered equipment servicing multiple applications in the clean energy and industrial gas markets, announced that it has executed a Memorandum of Understanding (“MOU”) with 8 Rivers Capital, LLC (“8 Rivers”), a climate technology company leading the energy industry towards achieving Net Zero, to evaluate 8 Rivers' portfolio of proprietary licensable technologies and processes and identify where Chart's technologies and systems can complement or bring added value to the 8 Rivers offerings. This collaboration includes developing equipment for 8 Rivers technologies backed up by Chart's decades of experience in the design and manufacture of cryogenic, compression and process technologies, to assist 8 Rivers in delivering a reliable and cost-effective solution to their customers. The companies will work together to identify and develop commercial opportunities to integrate Chart offerings into 8 Rivers projects.

Chart and 8 Rivers to Collaborate on Commercial Opportunities for Hydrogen Technology and Solutions

Rambus

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ATLANTA, July 31, 2023 (GLOBE NEWSWIRE) -- Chart Industries, Inc. (NYSE: GTLS) (“Chart”), a leading global engineering design and manufacturer of highly engineered equipment servicing multiple applications in the clean energy and industrial gas markets, today celebrates its “Teddy 2” facility construction progress, named as such because it is Chart's second facility in Theodore, Alabama. This plant is expected to fabricate the largest shop-built cryogenic tanks ever manufactured globally – 70% larger than the previous largest with manufacturing production set to begin in the first quarter 2024. The tanks manufactured at this site will be used for propellant storage for the aerospace industry, hydrogen and LNG storage for the marine industry, and many other processes and technologies in the sciences and decarbonization industries. Teddy 2's easy access to waterways will provide additional opportunities for our customers to have lower cost, faster freight and transportation to site.

Chart Industries Celebrates Theodore, Alabama Second Facility For Manufacturing the Largest Shop-Built Cryogenic Tanks in the World

The niche engineering specialist reported huge improvements on both the top and bottom lines. Its second-quarter results were boosted enormously by a recent acquisition.

Why Chart Industries Stock Blasted 8% Higher Today

Chart Industries, Inc (NYSE:GTLS ) Q2 2023 Earnings Conference Call July 28, 2023 8:30 AM ET Company Participants Jill Evanko - President and Chief Executive Officer Joe Brinkman - Chief Financial Officer Conference Call Participants James West - Evercore ISI Ben Nolan - Stifel Marc Bianchi - TD Cowen Scott Gruber - Citigroup Sam Burwell - Jefferies Pavel Molchanov - Raymond James Martin Malloy - Johnson Rice Eric Stine - Craig-Hallum Ati Modak - Goldman Sachs Rob Brown - Lake Street Capital Markets Craig Shere - Tuohy Brothers Operator Good morning and welcome to the Chart Industries, Inc. 2023 Second Quarter Results Conference Call. [Operator Instructions] The company's release and supplemental presentation were issued earlier this morning.

Chart Industries, Inc (GTLS) Q2 2023 Earnings Call Transcript

Although the revenue and EPS for Chart Industries (GTLS) give a sense of how its business performed in the quarter ended June 2023, it might be worth considering how some key metrics compare with Wall Street estimates and the year-ago numbers.

Chart Industries (GTLS) Reports Q2 Earnings: What Key Metrics Have to Say

Chart Industries (GTLS) came out with quarterly earnings of $1.19 per share, beating the Zacks Consensus Estimate of $0.94 per share. This compares to earnings of $0.88 per share a year ago.

Chart Industries (GTLS) Q2 Earnings Top Estimates

ATLANTA, July 28, 2023 (GLOBE NEWSWIRE) -- Chart Industries, Inc. (NYSE: GTLS) today reported results for the second quarter ended June 30, 2023. Results from continuing operations reflect our first full quarter of ownership of Howden and exclude the Roots™ financial results for our entire ownership period of March 17, 2023 through June 30, 2023. On June 11, 2023 we signed a definitive agreement to sell the Roots™ business to Ingersoll Rand, and accordingly Roots™ is included in discontinued operations. Earlier this week, the Roots™ divestiture received the required regulatory approval and is anticipated to close no later than August 18, 2023 with cash proceeds of approximately $300 million to be used for debt paydown. Further details can be found in the supplemental presentation accompanying this release and published in the investor relations section of our website. Highlights include:

Chart Industries Reports Record 2023 Second Quarter Financial Metrics

SHORT HILLS, N.J. and ATLANTA, July 25, 2023 (GLOBE NEWSWIRE) -- Dalian Clean Energy Group has selected Chart Industries to supply its cutting-edge hydrogen compression solutions from its Howden business to its groundbreaking hydrogen production project in China.

Chart Industries Chosen to Supply Hydrogen Compressors for China's First Photovoltaic, Seawater Desalination and Hydrogen Production Integrated Project

Partnerships, collaborations, and joint ventures apparently will replace the Chart Industries, Inc. acquisition strategy for the time being. Chart Industries deleveraging is on schedule. The announcement of the Roots business sale should lead to an acceleration of the deleveraging process.

Chart Industries: Joint Venture Or Partnership Time

GLASGOW, Scotland and WARRINGTON, England, July 17, 2023 (GLOBE NEWSWIRE) -- Today Chart Industries, Inc. (NYSE: GTLS) (“Chart”), a leading global engineering design and manufacturer of highly engineered equipment servicing multiple applications in the clean energy and industrial gas markets, announced that X-Energy Reactor Company, LLC. (“X-Energy”), a leading developer of advanced small modular nuclear reactors and fuel technology for clean energy generation, has selected Chart as its preferred strategic supplier of its helium circulator system into its Xe-100 high temperature gas cooled advanced modular reactor for the United Kingdom (UK) market.

X-Energy Selects UK-Based Howden, A Chart Industries Company, As Preferred Supplier Of Helium Circulator System For Its High Temperature Gas Cooled Modular Nuclear Reactor

SHORT HILLS, New Jersey and ATLANTA, July 05, 2023 (GLOBE NEWSWIRE) -- Avina Clean Hydrogen Inc. (“Avina”), a leading developer of electrolytic hydrogen plants, is proud to announce a partnership agreement with Chart Industries, Inc. (“Chart”, NYSE: GTLS), a global leader in design and manufacture of equipment for the entire hydrogen supply chain. Under the terms of the agreement, Chart will supply their Howden compressors for Avina's state-of-the-art green hydrogen facility in Southern California (USA). The gaseous hydrogen will be compressed and used to decarbonize heavy-duty trucks, marking a significant milestone as the region's first green hydrogen plant. Chart's Howden diaphragm “D” series compressors will enable the safe and efficient transportation of compressed gaseous hydrogen, ensuring its availability as a clean fuel source for heavy-duty trucks throughout Southern California.

Avina and Chart Industries Partner on Green Hydrogen Plant in Southern California

ATLANTA, July 05, 2023 (GLOBE NEWSWIRE) -- Chart Industries, Inc. (NYSE: GTLS) (“Chart”), a leading global engineering design and manufacturer of highly engineered equipment servicing multiple applications in clean energy and industrial gas markets, has scheduled a conference call for Friday, July 28, 2023 at 8:30 a.m. ET to discuss its second quarter 2023 financial results. Chart plans to issue its second quarter 2023 earnings release prior to market open on July 28th.

Chart Industries Schedules Second Quarter 2023 Earnings Release and Conference Call

ATLANTA, June 26, 2023 (GLOBE NEWSWIRE) -- Chart Industries, Inc. (NYSE: GTLS) (“Chart”), a leading global engineering design and manufacturer of highly engineered equipment servicing multiple applications in the clean energy and industrial gas markets, announced that Energy Vault Holdings, Inc. (NYSE: NRGV) (“Energy Vault”), a leader in sustainable grid-scale energy storage solutions, has selected Chart as the supplier of an integrated liquid hydrogen storage and fuel delivery system for a green hydrogen long-duration energy storage system (BH-ESS) used in conjunction with a utility-scale battery to provide back-up power to the city of Calistoga, California.

Energy Vault Selects Chart Industries Hydrogen Fueling Solution for Largest Green Hydrogen Long-Duration Energy Storage System in the U.S.

CALGARY, AB , June 15, 2023 /PRNewswire/ - Chart Industries, Inc. (NYSE: GTLS), a leading global engineering design and manufacturer of highly engineered equipment servicing multiple applications in the clean energy and industrial gas markets, today announced the furthering of its partnership and contract with Calgary-based cleantech startup, Kathairos Solutions, which already included Chart's MicroBulk tanks to now include products such as Orca™ Delivery Systems. The two companies have agreed to extend their contract for a minimum of two more years.

Chart and Kathairos Expand Partnership for Methane Emission Reduction Technology

Constant message delivery appears to influence stock prices by preventing a lot of worries from "taking hold." Chart Industries, Inc. management has earnings "certainty" to help offset the risk of leverage from the Howden deal. Management does not lose a material amount of orders from the backlog.

Chart Industries: Mr. Market Needs Constant Reassurance

Chart Industries, Inc. surprised investors in a bad way with the Howden deal last year. The deal was huge, leverage was set to increase a lot, all while end markets were cooling down. Fearful about the potential leverage overhang, I was hoping for a quick rebound in the shares.

News for Chart Industries Stock (GTLS)