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 a robust Q4 and full-year 2020, achieving a record backlog of $810 million and generating $60.2 million in net cash from operations. The company recorded total sales of $312.4 million in Q4, leading to a 178% increase in diluted earnings per share to $1.28. Full-year guidance for 2021 estimates revenue between $1.32 billion and $1.38 billion, with adjusted EPS anticipated at $3.50 to $4.00. The company completed four acquisitions, contributing to expected double-digit revenue growth while maintaining a strong cost structure.
Chart Industries announced the acquisition of Cryogenic Gas Technologies for $55 million in cash. Cryo Technologies specializes in custom-engineered systems for industrial gases like hydrogen and helium. This acquisition is expected to add approximately $30 million in revenue and boost non-diluted earnings per share by $0.15 to $0.20 for Chart in 2021. The combined expertise will enhance Chart's capacity in the hydrogen and helium markets, creating a unique full-solution supplier in liquefaction and storage.
Chart Industries (GTLS) and Ballard Power Systems (BLDP) announced a Memorandum of Understanding (MOU) to collaborate on developing integrated systems for hydrogen-powered heavy-duty transportation, focusing on buses, trucks, rail, and marine vessels. This partnership leverages nearly 100 years of combined experience in hydrogen solutions, aiming to accelerate the adoption of liquid hydrogen (LH2) technologies. Chart will offer expertise in LH2 systems, while Ballard will contribute fuel cell technology and market access.
Chart Industries, NYSE: GTLS, has joined a coalition of 11 companies called Hydrogen Forward, aiming to advance hydrogen development in the U.S. This initiative emphasizes hydrogen's role in decarbonizing energy-intensive industries like transportation and mining. CEO Jillian Evanko noted the company’s long-standing production of hydrogen-related equipment and its applications across various sectors. Hydrogen Forward seeks to promote policies that facilitate energy transition and infrastructure development for hydrogen technologies.
Chart Industries (GTLS) has announced a conference call on February 18, 2021, at 9:30 a.m. ET to discuss its fourth quarter and full year 2020 financial results. The earnings release will be issued prior to market open on the same day. Participants can join by dialing (877) 312-9395 in the U.S. or (970) 315-0456 internationally, using Conference ID 7484415. A replay will be available one hour after the call concludes, with access through the investor relations website.
Chart Industries specializes in high-engineered equipment for the energy and industrial gas markets.
Chart Industries announced its plan to transfer its common stock listing from NASDAQ to the New York Stock Exchange (NYSE) effective February 1, 2021, with the ticker symbol GTLS remaining the same. This transition is expected to enhance the company's visibility and partnerships, especially as four of its top five customers are also NYSE-listed. Chart's CEO expressed enthusiasm for the move, highlighting the benefits of joining a global exchange known for innovation and leadership in clean energy.
Chart Industries (GTLS) has signed a Memorandum of Understanding (MOU) with Matrix Service Company (MTRX) to develop standardized hydrogen solutions in North America. This collaboration aims to enhance hydrogen liquefaction, storage, and fueling infrastructure, leveraging both companies' expertise. Chart reported over $38 million in hydrogen equipment orders in 2020, contributing to a total of $283.6 million in specialty market orders. The partnership focuses on cost-effective and scalable hydrogen solutions, supporting the clean energy transition.
Chart Industries (GTLS) has completed the acquisition of Sustainable Energy Solutions (SES) on December 23, 2020. SES’s Cryogenic Carbon Capture technology significantly reduces fossil fuel emissions while enhancing renewable energy storage. This acquisition integrates SES's technology with Chart's existing equipment, providing a comprehensive solution for carbon capture and energy storage. Effective from year-end 2020, SES's contributions will be reported under the Specialty Products segment, targeting a $4.3 billion market potential across multiple industries, including hydrogen and water treatment.
Chart Industries (GTLS) announced a CAD $20 million investment in HTEC Hydrogen Technology & Energy Corporation, acquiring 15.6% of its capital stock. This investment provides access to hydrogen fuel supply solutions and Canadian projects, aligning with Chart's strategy for clean energy. HTEC’s partnerships include significant customers like Shell and Toyota, enhancing revenue opportunities for Chart. The move supports the anticipated growth in Chart's hydrogen business, targeting a $1.1 billion market by 2023 and recording hydrogen equipment orders of $18.1 million in Q4.
Chart Industries has signed a letter of intent to acquire Sustainable Energy Solutions for $20 million in cash, plus an earn-out, aiming to close the deal within 30 days. SES’s Cryogenic Carbon Capture technology will enhance Chart’s capabilities in the clean energy sector, expanding their total addressable market from $400 million to $600 million. This acquisition will integrate carbon capture with various energy storage solutions and applications, providing comprehensive services to clients. The deal's impact on 2021 guidance is expected to be immaterial.
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