Chart Industries, Inc. - GTLS STOCK NEWS

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.

Chart Industries, a leading manufacturer in the industrial gas and clean energy sectors, will host an Investor Day on May 5, 2022, at the New York Stock Exchange. The event will run from 7:30 a.m. to 11:30 a.m. ET, featuring insights from the executive management team, including updates on ESG initiatives, strategic activities, and market outlooks. Registration opens on March 4, 2022, and can be accessed through the company's investor relations website, where materials and a live webcast will also be available.

Chart Industries (NYSE: GTLS) secured over $120 million in orders for four liquefaction projects from various customers. Recent contracts include a 15 TPD hydrogen liquefier in North America, a 60,000 ton BioLNG liquefaction facility for VERBIO, a utility-scale LNG liquefaction plant in the Northeast U.S., and upgrades to an existing LNG facility for a regulated utility company. CEO Jill Evanko highlighted these awards as strong indicators of accelerating demand in the energy transition, contributing positively to Chart's outlook for 2022.