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, 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.
Chart Industries (GTLS) announced the acquisition of Earthly Labs for $62 million, gaining an 85% stake. The deal is primarily cash-based (62%) with the remainder in stock, valuing shares at $169.42. Earthly Labs specializes in small-scale carbon capture technology. This acquisition is seen as a strategic expansion into carbon capture, projected to contribute approximately $20 million in revenue for 2022 and enhance earnings per share by $0.12. CEO Jill Evanko highlighted the synergy in markets served, while Earthly Labs’ founder expressed a commitment to advancing climate solutions.
Chart Industries (NYSE: GTLS) and Howden have entered a Memorandum of Understanding (MOU) to collaborate on advanced hydrogen solutions. The partnership aims to integrate Howden's gas compression systems into Chart's hydrogen offerings, resulting in cost-effective and standardized solutions for customers. This collaboration is expected to enhance global aftermarket support and accelerate the commercialization of hydrogen projects in the coming decade. Both companies emphasize their commitment to customer satisfaction and reducing costs associated with renewable hydrogen development.
Chart Industries (NYSE: GTLS) has signed a Memorandum of Understanding with Hylium Industries to establish a joint venture focused on producing liquid hydrogen trailers in South Korea. The agreement includes a purchase order for three trailers, which will be designed and manufactured under Hylium's oversight, ensuring compliance with local regulations. CEO Jill Evanko emphasized the collaboration's potential to advance clean energy initiatives, while Hylium's CEO expressed optimism about enhancing Korea's hydrogen economy through this partnership.
Chart Industries reported strong financial results for Q3 2021, showcasing a record backlog of $1.1 billion and $350.2 million in orders, a 53.3% increase year-to-date. Sales reached $328.3 million, a 20.2% rise from Q3 2020. However, the full-year sales guidance decreased to $1.31-$1.33 billion, attributed to project timing shifts. The adjusted EPS guidance for 2021 is set at $2.75-$3.10. For 2022, a revenue outlook increase to $1.70-$1.85 billion is projected, reflecting anticipated continued demand and recent acquisitions.
Saulsbury has been awarded a contract for a pre-FEED study for a hydrogen liquefaction facility, enhancing its position in the hydrogen market. The company is collaborating with Chart Industries (NYSE: GTLS), leveraging over 50 years of hydrogen experience. This partnership aims to deliver preliminary designs and economic feasibility for the project. Saulsbury's reputation as a premier EPC provider is reinforced by this award, which supports its strategy to diversify into the renewable energy sector.
Chart Industries (NYSE: GTLS) announced collaboration with the IHE Delft Institute for Water Education to advance research on biological treatment processes using BlueInGreen’s SDOX® technology. This partnership aims to enhance water treatment solutions, offering lower costs and increased efficiency. Notably, past research indicated SDOX® achieves over 95% oxygen transfer efficiency. The initiative continues the commitment to sustainable innovation and knowledge-sharing in water treatment processes.
Chart Industries has signed a Memorandum of Understanding (MOU) with Ionada to collaborate on Carbon Capture and Sequestration (CCUS) projects. This non-exclusive agreement aims to leverage Ionada's carbon capture technology alongside Chart's CO2 storage systems to minimize the carbon footprint of the shipping industry. The collaboration aligns with the International Maritime Organization's goals for reducing emissions, targeting a 40% reduction in carbon intensity by 2030. Chart’s global manufacturing capabilities position it to support ship retrofits in numerous countries.
Chart Industries, Inc. (GTLS) has appointed Joe Brinkman as the new Vice President and Chief Financial Officer, effective October 1, 2021. Brinkman succeeds Scott Merkle, who is set to retire on October 1, 2022, and will assist in the transition. Brinkman has a 23-year history at Chart, previously serving as Vice President and General Manager of Industrial Gas Products. His responsibilities will include financial reporting and global sourcing. CEO Jill Evanko emphasized the strength of the leadership team and the importance of succession planning.
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