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 (GTLS) announces a Development and Commercial MOU with ABB to enhance modular solutions in clean energy and water treatment sectors. This partnership will focus on developing standard modular controls for hydrogen and natural gas liquefaction plants, carbon capture plants, and more. The collaboration aims to reduce costs and risks in emerging segments. Both companies emphasize sustainability and innovation, with Chart leveraging ABB's expertise in automation and power supply to advance their technology offerings.
Chart Industries (GTLS) reported a strong Q1 2021, with record orders of $417.2 million and a backlog of $934.1 million. Diluted earnings per share surged to $0.63, a 950% increase from Q1 2020. The company expects full-year revenue between $1.36 billion and $1.41 billion, reflecting organic and inorganic growth, including significant investments in hydrogen and carbon capture technologies. Key segments like Repair, Service & Leasing and Specialty Products accounted for 41.1% of total net sales. The gross margin reached 29.1%, the highest in four years.
Chart Industries and Reliance Industries have co-founded the India H2 Alliance (IH2A), aimed at developing a hydrogen economy in India. The alliance, comprising global energy leaders, focuses on blue and green hydrogen production, storage, and transport applications. IH2A will collaborate with the government to formulate a National Hydrogen Policy and establish large-scale hydrogen projects and a national funding initiative. This coalition seeks to reduce hydrogen costs and create a local supply chain to achieve India's net-zero carbon goals, complementing renewable energy strategies.
Plug Power, Chart Industries, and Baker Hughes announced their intentions to invest a total of €260 million in the FiveT Hydrogen Fund. This fund aims to raise €1 billion for developing clean hydrogen infrastructure, crucial for addressing climate change and supporting the energy transition to net-zero emissions. Plug Power will contribute €160 million while Chart Industries and Baker Hughes will each commit €50 million. The Fund focuses on financing projects in hydrogen production, storage, and distribution, promising robust returns and sustainability benefits.
Plug Power, Chart Industries, and Baker Hughes are set to be cornerstone investors in the FiveT Hydrogen Fund, aimed at advancing clean hydrogen infrastructure. Plug Power will invest €160 million ($200 million), while Chart and Baker Hughes will each contribute €50 million ($60 million). The Fund aspires to raise €1 billion from various investors and will exclusively finance projects in clean hydrogen production, storage, and distribution. This collaboration emphasizes the increasing importance of hydrogen in the energy transition and the potential for significant environmental impact.
Chart Industries, Inc. (NYSE: GTLS) has scheduled a conference call for April 22, 2021, at 9:30 a.m. ET to discuss its first quarter 2021 financial results. Earnings will be released prior to market open on the same day. Participants can join by dialing (877) 312-9395 in the U.S. or (970) 315-0456 outside the U.S., using Conference ID 1269077. A webcast will also be available on the company's investor relations website.
A replay will be accessible from 12:30 p.m. ET, April 22, until 12:30 p.m. ET, April 29.
Chart Industries (GTLS) has made a strategic $25 million investment for a 5% equity stake in Transform Materials, a sustainable chemical company specializing in microwave plasma technology for converting natural gas into acetylene and hydrogen. This partnership includes a binding commercial agreement aimed at leveraging Chart's technology for enhancing clean hydrogen production. Transform aims to initiate construction of two to three plants within the year, signaling potential multi-million dollar opportunities for Chart across global markets in the clean energy sector.
Chart Industries (GTLS) announced a significant order from Plug Power (PLUG) for two 15-ton per day liquefaction plants, part of Plug Power's first-of-a-kind green hydrogen generation network in the U.S. The liquefaction plants will use Chart’s advanced technology and are set to be operational by the end of 2022, supporting Plug Power's aim to produce 1,000 tons of green hydrogen globally by 2028. This partnership highlights the increasing demand for hydrogen solutions, aligning with the clean energy transition.
Chart Industries (NYSE: GTLS) has received a Notice to Proceed for engineering work on New Fortress Energy’s (NASDAQ: NFE) 1.4 MTPA LNG offshore liquefaction project. The project, valued at $47 million, is expected to complete by the end of 2022, featuring Chart's patented ISPMR® process technology and other essential equipment. CEO Jill Evanko expressed excitement about this unique partnership, highlighting NFE's leadership in clean energy.
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