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 reported record-breaking financial results for Q2 2022, including orders of $887.8 million, sales of $404.8 million, and a backlog of $1,953.3 million. This marks a 25.7% increase in sales year-over-year. The company achieved a non-diluted EPS of $0.36, with adjusted EPS at $0.88. Full-year sales guidance was narrowed to $1.725 billion to $1.80 billion, with adjusted EPS forecasted between $5.20 and $5.60. Chart also acquired Fronti Fabrications and CSC Cryogenic Service Center, expanding its operational capabilities amidst rising global demand for LNG and clean energy solutions.
Chart Industries (NYSE: GTLS) has signed a Memorandum of Understanding (MOU) with Wolf Carbon Solutions to develop projects utilizing Chart’s CCC technology along the Mt. Simon Hub carbon pipeline system. The collaboration aims to capture and sequester carbon emissions from industrial sites, enhancing the carbon footprint of the Midwest U.S. This partnership is expected to support greenhouse gas reduction targets in various hard-to-abate industries, contributing to decarbonization initiatives. Both companies will leverage their strengths to address the growing demand for carbon capture solutions.
Chart Industries (NYSE: GTLS) has scheduled a conference call for July 29, 2022, at 8:30 a.m. ET to discuss its second quarter 2022 financial results. The earnings release will be available prior to market open on the same day. A live webcast and replay can be accessed via the Company's investor relations website. Chart Industries is a global manufacturer of engineered equipment for the Energy and Industrial Gas markets, focusing on advanced solutions for liquefied natural gas, hydrogen, and CO2 capture.
Chart Industries has received full notice to proceed for its IPMSR® process and equipment for Cheniere’s Corpus Christi LNG export terminal project. The company booked an order exceeding $260 million, adding to a $50 million backlog reported as of March 31, 2022. Revenue recognition for this project will commence in 2022, featuring a staggered delivery schedule over multiple years, signaling a significant business development for Chart amidst ongoing clean energy initiatives.
Chart Industries (NYSE: GTLS) announced the acquisition of Fronti Fabrications for $20 million, enhancing its manufacturing capabilities in the cryogenic and gas industries. Fronti, with over 20 years of experience, will boost Chart's cold box capacity by 25%, facilitating demand for LNG, hydrogen, and helium liquefaction. This strategic move enables Chart to optimize manufacturing and improve delivery lead times, addressing anticipated market growth. The acquisition also supports Chart's flexible manufacturing footprint in Allentown, Pennsylvania, positioning it for future expansion.
Chart Industries, Inc. (NYSE: GTLS) has acquired CSC Cryogenic Service Center AB, a Swedish firm, for approximately $4 million. This acquisition enhances Chart's service and repair capabilities in the Nordic Region, allowing for geographical expansion and improved services for existing customers. Key benefits include localized support for a growing original equipment installed base, and stronger relationships within the marine industry. The acquisition is expected to drive efficiencies and synergies, bolstering Chart's Repair, Service, and Leasing segment.
Chart Industries (NYSE: GTLS) hosted its Investor Day at the New York Stock Exchange on May 5, 2022, showcasing a positive outlook. Highlights include a projected revenue CAGR exceeding 17% through 2025, and an anticipated adjusted earnings CAGR over 25%. The company reported new orders for LNG projects and expansion of its capital allocation strategy, including growth in manufacturing and service capabilities. Additionally, Chart completed the acquisition of AdEdge India, enhancing its global presence in water treatment, and announced an innovative carbon capture project in partnership with Aalborg University.
Chart Industries, NYSE: GTLS, reported record orders of $636.8 million in Q1 2022, marking a 22.7% increase in sales to $354.1 million. The backlog hit $1,477.0 million, 58.1% higher year-on-year. Key highlights include a Letter of Intent with Greenstone Renewables for a renewable solar hydrogen project and a revised yearly revenue outlook of $1.725 billion to $1.85 billion. Despite challenges in logistics and material costs, the company anticipates adjusted EPS between $5.35 and $6.50 for 2022, signaling strong demand amid geopolitical influences.
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