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.
Overview
Chart Industries (NYSE: GTLS) is a globally recognized manufacturer and engineer of advanced cryogenic and process technology equipment. The company plays a critical role in the industrial gas supply chain by providing highly engineered solutions in cryogenics, LNG liquefaction, hydrogen processing, and biological storage. From the design and manufacturing of critical components used to separate oxygen, nitrogen, and noble gases from air, to delivering reliable systems for natural gas liquefaction and storage, Chart Industries is deeply embedded in powering clean power, water, food, and industrial solutions.
Core Operations and Product Portfolio
At its core, Chart Industries specializes in creating robust and efficient equipment tailored for the gas and liquid molecule handling sectors. Its products serve multiple phases of the liquid gas supply chain, including:
- Cryogenic Equipment: Designed to maintain extremely low temperatures, their cryogenic systems are essential for processes ranging from air separation to the liquefaction of natural gas.
- LNG and Process Technologies: The company’s innovative liquefaction processes and modular equipment are fundamental to the production and distribution of LNG, enhancing efficiency and reliability in large-scale operations.
- Hydrogen and Clean Energy Solutions: By providing advanced hydrogen compression and liquefaction solutions, Chart supports global initiatives toward sustainable energy and cleaner industrial processes.
- Specialized Storage Systems: Its offerings include state-of-the-art biological storage solutions, which set benchmarks in the preservation of human and animal tissues, and respiratory products for home healthcare markets, underscoring its diversified technology approach.
Market Position and Industry Significance
Chart Industries occupies a unique niche in the industrial gas arena. The company's solutions are found at every stage of the gas supply chain, demonstrating how integral their equipment is to the production, distribution, and usage of liquid gases. Their comprehensive approach—covering design, engineering, installation, and preventive maintenance—establishes them as a trusted partner to major players in the LNG, hydrogen, and natural gas processing markets around the world.
Technological Innovation and Expertise
Chart leverages cutting-edge process technologies such as the Integrated Pre-Cooled Single Mixed Refrigerant (IPSMR®) process to deliver energy-efficient and reliable systems. This technology, along with their extensive array of stationary and rotating equipment, allows Chart to meet the demanding needs of industries requiring precise, contamination-free, and high-pressure gas solutions. The use of specialized equipment in cryogenic environments speaks not only to the technical complexity but also to the operational resilience inherent in their solutions.
Global Reach and Operational Excellence
With a worldwide manufacturing and service footprint that spans multiple continents, Chart Industries is well positioned to serve a diverse and expansive customer base—from large-scale industrial gas producers to emerging sectors like hydrogen-fueled energy solutions. Their strategic integration of engineering services, repair, and digital monitoring systems ensures that clients receive end-to-end support, reinforcing the company’s longstanding reputation for quality and reliability.
Competitive Landscape and Differentiation
In a market crowded with specialized engineering firms and equipment manufacturers, Chart Industries differentiates itself through its deep industry expertise, technical innovation, and comprehensive service model. The company continuously adapts its product offerings to meet evolving market demands, leveraging decades of experience to provide solutions that address both conventional and emerging energy needs. This differentiation is critical in establishing long-term partnerships with customers and maintaining a competitive edge in the global industrial gas solutions market.
Conclusion
Overall, Chart Industries stands as a pivotal entity in the realm of cryogenic and process technology. Its commitment to engineering excellence and operational integrity is reflected in every stage of the liquid gas supply chain. Investors and industry analysts can appreciate the company’s systematic approach to problem-solving, its strategic positioning in the market, and its ability to deliver reliable and innovative solutions, all of which underscore its established authority in supporting modern industrial and energy applications.
Chart Industries (NYSE: GTLS) has secured all necessary regulatory approvals to complete the acquisition of Howden from KPS Capital Partners, LP. The deal is expected to close soon, pending customary closing conditions. Howden is renowned for its air and gas handling products, and with over 160 years of expertise, it serves diverse global markets. This acquisition aims to enhance operational efficiency and contribute to environmental goals, including decarbonization. Chart will provide updated financial guidance for the combined entity after closing. Future events include a presentation at the Bank of America Global Industrials Conference on March 21, 2023.
GenH2 and Chart Industries have formed a strategic partnership to enhance global distribution of small-scale hydrogen liquefaction technologies.
This collaboration aims to address the increasing demand for liquid hydrogen amidst supply shortages. GenH2's 1,000 kg/day liquefier will utilize Chart equipment, boosting performance and efficiency.
The integration of GenH2's technology into Chart's existing infrastructure allows for scalable deployment and market expansion. Both companies plan to develop relationships across the hydrogen value chain and pursue new customer opportunities, marking a significant step towards a cleaner energy transition.
Chart Industries reported record financial results for Q4 2022 and full-year 2022, with total orders reaching $2.78 billion—a 65.9% increase from 2021. Q4 orders alone were $525.9 million, marking a 14.1% year-over-year growth. Sales hit a record $1.61 billion for the year, driven by strong demand across all segments despite a 3.9% foreign exchange headwind.
Adjusted EBITDA for Q4 was $97.5 million, with a quarterly adjusted EPS of $1.67. The company anticipates its acquisition of Howden to close within 45 days and reiterated its 2023 sales outlook between $2.10 billion and $2.20 billion.
Chart Industries (NYSE: GTLS) is set to announce its fourth quarter and full year 2022 financial results on February 24, 2023. The earnings release will occur before the market opens, followed by a conference call at 8:30 a.m. ET to discuss the results. Investors can access a live webcast on the company's investor relations website. Chart Industries specializes in manufacturing equipment for clean energy, industrial gas, and other specialty markets, with a commitment to environmental and corporate governance.
On January 4, 2023, Chart Industries (NYSE: GTLS) and BNG Clean Fuel Corporation announced a Memorandum of Understanding (MOU) for Chart to supply hydrogen liquefaction technology and equipment. The partnership aims to establish hydrogen fueling stations and foster industry relationships for hydrogen production and distribution. BNG's DenverH2 pilot hub is set to include dual-22 ton per day hydrogen liquefaction facilities and multiple liquid hydrogen stations, with anticipated orders from Chart expected in 2023 and 2024.
Chart Industries, a leader in clean energy technology, will present at the Goldman Sachs Global Energy and Clean Technology Conference on January 6, 2023, at 12:40 p.m. ET in Miami, Florida. CEO Jill Evanko will represent the company, highlighting its commitment to innovative solutions in the energy and industrial gas markets. Chart Industries specializes in liquefied natural gas, hydrogen, and CO2 Capture, with a global presence in over 25 manufacturing locations. A live webcast will be available on their website for those interested in the event.
Raven SR and Chart Industries (GTLS) have announced a global collaboration focused on the liquefaction, storage, and transportation of hydrogen and carbon dioxide produced from Raven SR's non-combustion process. The Memorandum of Understanding includes engineering packages and equipment provided by Chart to enhance Raven SR's ability to supply hydrogen and CO2 as products. This partnership aims to optimize production facilities for clean fuels while supporting emissions reduction goals through a supply chain solution that converts captured biocarbon into liquefied products.
Chart Industries has priced its concurrent offerings of 5,923,670 shares of common stock at $118.17 per share and 7,000,000 depositary shares at $50 per share. The net proceeds are estimated at $675.5 million for common stock and $337.8 million for depositary shares. Funds will partly finance the acquisition of Howden. Holders of depositary shares will receive proportional rights of the preferred stock, converting into common stock by December 2025, with a dividend rate of 6.75%.
Chart Industries, Inc. (NYSE: GTLS) has priced a significant offering of $1.46 billion in 7.500% senior secured notes due 2030, and $510 million in 9.500% unsecured notes due 2031. The notes are set to close on December 22, 2022, subject to customary conditions. Proceeds will fund the acquisition of Howden and cover associated costs. The secured notes will have first-priority liens on assets supporting Chart’s credit obligations. This offering is limited to qualified institutional buyers and non-U.S. persons under Regulation S, and is not registered under the Securities Act.
Chart Industries (NYSE: GTLS) announced concurrent offerings totaling $900 million, comprising $600 million in common stock and $300 million in depositary shares, subject to market conditions. The offerings include an option for underwriters to purchase additional shares. Proceeds will help reduce the equity stake in Series A Preferred Stock related to the acquisition of Howden. Holders of the Depositary Shares will receive rights akin to the Preferred Stock, which is expected to convert into common stock by December 2025. No public market exists yet for these securities.
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