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.
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.
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.
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