Welcome to our dedicated page for Chart Industries news (Ticker: GTLS), a resource for investors and traders seeking the latest updates and insights on Chart Industries stock.
Chart Industries, Inc. (NYSE: GTLS) is a global leader in the design, engineering, and manufacturing of highly engineered cryogenic equipment used in the industrial gas and liquefied natural gas (LNG) industries. The company’s product portfolio includes solutions for the separation, storage, and distribution of oxygen, nitrogen, and noble gases, as well as natural gas processing and liquefaction.
Core Business: Chart Industries specializes in cryogenics, playing a crucial role in the liquid gas supply chain. Its products are essential for the separation of gases from the air and the liquefaction of natural gas. The company’s distribution and storage solutions are critical for the delivery and end-use of liquid gases across various industries, including energy, healthcare, and life sciences.
Key Products and Brands: Chart's MVE® brand is the gold standard for biological storage systems, used for cryogenic preservation of human and animal tissues. The CAIRE® and AirSep® brands lead in providing respiratory products for home healthcare. Additionally, Chart has recently expanded its offerings to include specialty products in hydrogen, biofuels, cannabis, and water treatment sectors.
Recent Achievements: In early 2023, Chart Industries acquired Howden, significantly doubling the company's size and enhancing its capabilities in cryogenic solutions. The company also opened its “Teddy 2” facility in Theodore, Alabama, to manufacture the world’s largest cryogenic tanks and contribute to local job creation and economic development.
Major Collaborations and Projects: Chart has partnered with GasLog LNG Services Ltd. to develop a commercial-scale liquid hydrogen (LH2) supply chain, leveraging GasLog's liquid hydrogen vessel developments and Chart's extensive cryogenic experience. The company is also supporting Repsol’s €657 million expansion of its Sines industrial complex in Portugal with cutting-edge hydrogen compression solutions.
Financial Condition and Governance: Chart Industries recently increased its revolving credit facility from $1.0 billion to $1.25 billion, extending its maturity to April 2029. The company maintains strong financial health and is committed to achieving a targeted leverage ratio of 2.0-2.5X net leverage. Chart is also dedicated to environmental, social, and corporate governance (ESG) excellence, with 64 global manufacturing locations and over 50 service centers worldwide.
Conclusion: Chart Industries continues to innovate and expand its footprint in clean energy and industrial gas markets. Its comprehensive product and solution portfolio, combined with strategic collaborations and robust financial strategy, positions it as a key player in the cryogenics and clean energy sectors.
Chart Industries (NYSE: GTLS) has been named to Newsweek's 2025 America's Most Responsible Companies list for the second consecutive year, significantly improving its position to rank #287 out of 600 companies nationwide, up 250 spots from 2024. The company achieved #32 ranking among 75 companies in the Capital Goods sector.
The recognition, determined by Newsweek and global data research firm Statista, evaluates companies based on environmental stewardship, social impact, and corporate governance. CEO Jill Evanko emphasized the company's commitment to innovation, sustainability, and community wellbeing.
Chart Industries, a global leader in clean energy and industrial gas solutions, continues to demonstrate progress in ESG initiatives. The company's 2023 Sustainability Report is available online, with the 2024 report scheduled for release in April 2025.
Chart Industries (NYSE: GTLS) has signed a global master goods and services agreement with ExxonMobil (NYSE: XOM) to provide LNG equipment, technology, and services for ExxonMobil's global portfolio of projects. The enabling agreement covers the supply of cold boxes and Chart's proprietary IPSMR® process technology.
The collaboration will implement a 'design once, build many' approach to optimize cost, schedule, and quality for LNG projects globally. This agreement builds upon Chart's existing involvement in ExxonMobil's Mozambique LNG project and aims to advance LNG production capabilities across multiple countries. Chart's cold boxes and IPSMR® technology are specifically designed to maximize efficiency, optimize performance, and support cost-effective LNG production.
Chart Industries (NYSE: GTLS), a global leader in clean energy and industrial gas solutions, has announced its participation in the Goldman Sachs Energy, CleanTech & Utilities Conference in Aventura, Florida. Jill Evanko, President and Chief Executive Officer, will engage in a fireside discussion on Wednesday, January 8th at 10:00 a.m. ET.
The event will be accessible through a live audio webcast on the company's website in the News and Events - Events and Presentations section. For those unable to attend, a replay of the webcast will be made available after the event concludes.
Chart Industries (NYSE: GTLS) has secured an order from Bechtel to provide IPSMR® liquefaction technology and cold boxes for Phase 1 of Woodside Energy's Louisiana LNG development. The project, formerly known as Driftwood LNG, will include two LNG plants with 16 cold boxes, supporting 11 MTPA of production. Each plant will feature four Heavies Removal Cold Boxes and four LNG Liquefaction Cold Boxes. The order, awarded in December 2024, will utilize Chart's energy-efficient IPSMR® process to support Woodside's clean energy initiatives.
Chart Industries (NYSE: GTLS) has announced that Cheniere Energy (NYSE: LNG) achieved its first LNG production from Train 1 of the Corpus Christi Stage 3 Liquefaction Project. Chart is supporting the project with its IPSMR® process technology for LNG Liquefaction and associated equipment. The commissioning process is ongoing, with substantial completion expected by the end of Q1 2025, which is more than six months ahead of the guaranteed completion date. Upon completion, Bechtel will transfer control of the train to Cheniere.
Chart Industries (NYSE: GTLS) has announced a $250 million share repurchase program authorized by its Board of Directors. The company can execute the buyback through various means, including open market transactions, block purchases, and privately negotiated transactions, in compliance with federal securities laws.
However, Chart emphasizes that no share repurchases or material cash acquisitions will occur until the company's net leverage falls below 2.5, unless necessitated by a significant market event. As of September 30, 2024, the company's net leverage ratio was 3.04. Chart expects to reduce its debt to $3 billion by the end of 2025, focusing on debt reduction, shareholder value, and capital deployment for growth.
Chart Industries (NYSE: GTLS), a global leader in clean energy and industrial gas solutions, has announced its participation in the Wells Fargo 23rd Annual Midstream, Energy & Utilities Symposium in New York. Jill Evanko, President and CEO, will engage in a fireside discussion on Wednesday, December 11th, with the webcast scheduled for 8:45 a.m. ET.
The presentation will be accessible via live audio webcast on the company's website, with a replay available after the event's conclusion.
Chart Industries (NYSE: GTLS), a global leader in clean energy and industrial gas solutions, announced its Capital Markets Day event on November 12, 2024, starting at 9:00 am ET. The company released a supplemental presentation to be discussed during the event and webcast. Additionally, Chart's management will participate in the Baird 2024 Global Industrial Conference in Chicago on November 13, 2024. The event will be accessible via live webcast on the company's website, with presentation slides available and a replay option after the event.
Chart Industries (NYSE: GTLS) reported strong Q3 2024 results with sales of $1.06 billion, up 22.4% year-over-year. Orders reached $1.17 billion, increasing 5.4%. The company achieved record reported gross profit margin of 34.1% and adjusted operating margin of 22.2%. Free cash flow was $174.6 million, contributing to a net leverage ratio reduction to 3.04.
Key financial metrics include reported EBITDA of $248.4 million (23.4% of sales) and adjusted EBITDA of $260.7 million (24.5% of sales). The company reported diluted EPS of $1.34 and adjusted diluted EPS of $2.18. For full-year 2024, Chart expects sales of $4.20-4.30 billion and adjusted EBITDA of $1.015-1.045 billion.
ExxonMobil, representing Mozambique Rovuma Venture (MRV), has chosen Chart Industries' (NYSE: GTLS) IPSMR® liquefaction technology and proprietary equipment for the Rovuma LNG project located at the Afungi peninsula in Mozambique. The project will produce, liquefy, and market natural gas from the Area 4 block in the offshore Rovuma Basin. It includes constructing 12 modules, each with a capacity of 1.5 MTA, totaling 18 million tonnes annually, alongside associated onshore facilities. This selection aims to enhance project competitiveness, reliability, and reduce GHG emissions. MRV is a joint venture owned by ExxonMobil, Eni, and CNPC, holding a 70% interest in Area 4, with ENH, KOGAS, and Galp each holding 10%.
FAQ
What is the current stock price of Chart Industries (GTLS)?
What is the market cap of Chart Industries (GTLS)?
What does Chart Industries specialize in?
What are the core products of Chart Industries?
What are some of Chart Industries' key brands?
What recent acquisition has Chart Industries made?
What is the significance of the 'Teddy 2' facility?
What collaborations is Chart Industries involved in?
How is Chart Industries contributing to clean energy?
What is Chart Industries' financial strategy?
How many global locations does Chart Industries have?
What is Chart Industries' commitment to ESG?
