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, Inc. (NYSE: GTLS) is hosting an Investor Day on May 5, 2022, at the New York Stock Exchange. The event will cover the company's strategic outlook, ESG activities, and commercial opportunities, featuring key executives including CEO Jill Evanko. Registration is required by April 25, 2022. A live webcast will be available for those unable to attend in person, along with presentation materials. Chart Industries specializes in engineered equipment for the energy and industrial gas markets, focusing on clean energy solutions.
Chart Industries, Inc. (NYSE: GTLS) has announced a conference call to discuss its first quarter 2022 financial results on April 29, 2022, at 8:30 a.m. ET. The earnings release will be published prior to market open on the same day. Participants can join via phone or through a webcast available on the company's investor relations website. A replay of the call will also be accessible shortly after its conclusion until May 6, 2022. Chart Industries specializes in manufacturing equipment for the Energy and Industrial Gas sectors, contributing to the clean energy transition.
Chart Industries (NYSE: GTLS) announced an order worth $45 million for six brazed aluminum heat exchanger assemblies and cold boxes for the Plaquemines Phase 2 LNG export terminal project, managed by Venture Global. This order marks the initial phase of a larger project expected to include a total of 18 assemblies. The company’s capacity to fulfill this order could strengthen its position in the clean energy sector, addressing critical market demands for liquefied natural gas.
Chart Industries (NYSE: GTLS) announced it has received a limited notice to proceed for its IPMSR® process and equipment for Cheniere’s Corpus Christi Stage Three LNG project. This includes a $47.5 million order from Bechtel, with revenue recognition starting in 2022 and a staggered delivery schedule.
The announcement highlights Chart's ongoing role in the liquefied natural gas market, amidst potential risks from global supply chain challenges and market acceptance issues for clean energy products.
Chart Industries (NYSE: GTLS) has received the full notice to proceed for producing cold boxes and heat exchangers for Venture Global's 10 MTPA Plaquemines Phase 1 LNG export terminal. This comes with a significant equipment order worth $136 million from Baker Hughes, allowing Chart to start recognizing revenue in 2022 with staggered deliveries.
Forward-looking statements indicate anticipated revenue growth, although potential risks, including supply chain challenges and market acceptance, may impact performance.
Chart Industries reported record-breaking fourth quarter and full-year 2021 results, with orders of $460.9 million and $1,676.1 million, respectively. The company achieved a record backlog of $1,190.1 million. Specialty Products orders surged 132.3% year-over-year, totaling $648.6 million. Fourth quarter sales reached $378.9 million, driving full-year sales to $1,317.7 million, an 11.9% increase over 2020. Adjusted EPS for the year was $2.84. The 2022 revenue outlook remains strong at $1.70 billion to $1.85 billion, reflecting optimism despite ongoing supply chain challenges.
Ballard Power Systems (NASDAQ: BLDP) and Chart Industries (NYSE: GTLS) have successfully tested a fuel cell powered by liquid hydrogen. This collaboration, building on a joint development MOU from February 2021, utilized Ballard's FCmove™-HD fuel cell and Chart's HLH2 vehicle fuel system. The testing demonstrated the advantages of liquid hydrogen, offering up to double the range for heavy-duty vehicles without impacting payload. The companies aim to explore potential applications for liquid hydrogen in long-distance transport, including trucks and marine vessels.
Chart Industries and Ballard Power Systems have successfully tested a liquid hydrogen-powered fuel cell for heavy-duty vehicles, confirming the synergy between Chart's HLH2 fuel system and Ballard's FCmove™-HD fuel cell. The technology offers significant advantages, including extended range and simplified fueling infrastructure, making it suitable for applications in trucks, buses, rail, and marine sectors. The companies are now working on identifying a demonstrator for upcoming road tests.
Chart Industries, Inc. (GTLS) has announced a conference call scheduled for February 24, 2022, at 9:30 a.m. ET, to discuss its fourth quarter and full year 2021 financial results. The earnings release will be issued before the market opens on the same day. Participants can join the call via phone or through a webcast available on the company’s investor relations website. A replay will be accessible post-call and will remain available until March 3, 2022. Chart Industries is noted for its engineered equipment in the Energy and Industrial Gas sectors, with a focus on clean energy solutions.
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