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.
Overview
Chart Industries (NYSE: GTLS) is a globally recognized manufacturer and engineer of advanced cryogenic and process technology equipment. The company plays a critical role in the industrial gas supply chain by providing highly engineered solutions in cryogenics, LNG liquefaction, hydrogen processing, and biological storage. From the design and manufacturing of critical components used to separate oxygen, nitrogen, and noble gases from air, to delivering reliable systems for natural gas liquefaction and storage, Chart Industries is deeply embedded in powering clean power, water, food, and industrial solutions.
Core Operations and Product Portfolio
At its core, Chart Industries specializes in creating robust and efficient equipment tailored for the gas and liquid molecule handling sectors. Its products serve multiple phases of the liquid gas supply chain, including:
- Cryogenic Equipment: Designed to maintain extremely low temperatures, their cryogenic systems are essential for processes ranging from air separation to the liquefaction of natural gas.
- LNG and Process Technologies: The company’s innovative liquefaction processes and modular equipment are fundamental to the production and distribution of LNG, enhancing efficiency and reliability in large-scale operations.
- Hydrogen and Clean Energy Solutions: By providing advanced hydrogen compression and liquefaction solutions, Chart supports global initiatives toward sustainable energy and cleaner industrial processes.
- Specialized Storage Systems: Its offerings include state-of-the-art biological storage solutions, which set benchmarks in the preservation of human and animal tissues, and respiratory products for home healthcare markets, underscoring its diversified technology approach.
Market Position and Industry Significance
Chart Industries occupies a unique niche in the industrial gas arena. The company's solutions are found at every stage of the gas supply chain, demonstrating how integral their equipment is to the production, distribution, and usage of liquid gases. Their comprehensive approach—covering design, engineering, installation, and preventive maintenance—establishes them as a trusted partner to major players in the LNG, hydrogen, and natural gas processing markets around the world.
Technological Innovation and Expertise
Chart leverages cutting-edge process technologies such as the Integrated Pre-Cooled Single Mixed Refrigerant (IPSMR®) process to deliver energy-efficient and reliable systems. This technology, along with their extensive array of stationary and rotating equipment, allows Chart to meet the demanding needs of industries requiring precise, contamination-free, and high-pressure gas solutions. The use of specialized equipment in cryogenic environments speaks not only to the technical complexity but also to the operational resilience inherent in their solutions.
Global Reach and Operational Excellence
With a worldwide manufacturing and service footprint that spans multiple continents, Chart Industries is well positioned to serve a diverse and expansive customer base—from large-scale industrial gas producers to emerging sectors like hydrogen-fueled energy solutions. Their strategic integration of engineering services, repair, and digital monitoring systems ensures that clients receive end-to-end support, reinforcing the company’s longstanding reputation for quality and reliability.
Competitive Landscape and Differentiation
In a market crowded with specialized engineering firms and equipment manufacturers, Chart Industries differentiates itself through its deep industry expertise, technical innovation, and comprehensive service model. The company continuously adapts its product offerings to meet evolving market demands, leveraging decades of experience to provide solutions that address both conventional and emerging energy needs. This differentiation is critical in establishing long-term partnerships with customers and maintaining a competitive edge in the global industrial gas solutions market.
Conclusion
Overall, Chart Industries stands as a pivotal entity in the realm of cryogenic and process technology. Its commitment to engineering excellence and operational integrity is reflected in every stage of the liquid gas supply chain. Investors and industry analysts can appreciate the company’s systematic approach to problem-solving, its strategic positioning in the market, and its ability to deliver reliable and innovative solutions, all of which underscore its established authority in supporting modern industrial and energy applications.
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.
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.
FAQ
What is the current stock price of Chart Industries (GTLS)?
What is the market cap of Chart Industries (GTLS)?
What is the core business of Chart Industries?
How does Chart Industries support the liquid gas supply chain?
Which industries benefit from Chart Industries' technologies?
What sets Chart Industries apart from its competitors?
What are some key applications of their cryogenic solutions?
How does the company demonstrate its expertise and reliability?
In what ways does Chart support clean energy initiatives?
How does Chart ensure its products meet industry demands?
