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 (NYSE: GTLS) reported record second quarter 2024 results, with sales up 18.8% to $1.04 billion and orders increasing 12.1% to $1.16 billion year-over-year. The company achieved record gross margin of 33.8%, up 310 basis points, and record adjusted EBITDA of $257.3 million (24.7% of sales). Adjusted diluted EPS was $2.18. Free cash flow was $88 million, with net leverage ratio reduced to 3.26.
Chart reiterated its 2024 outlook with sales expected between $4.45-$4.60 billion, adjusted EBITDA of $1.08-$1.15 billion, and adjusted EPS of $10.75-$11.75. The company also maintained its medium-term targets, including mid-teens organic revenue growth through 2026 and reported gross profit margin in the mid-30% range by 2026.
Chart Industries, Inc. (NYSE: GTLS) announces the successful delivery of First LNG at New Fortress Energy's (NFE) Fast LNG project in Altamira, Mexico, using Chart's IPSMR® process technology. This milestone establishes FLNG as the fastest large-scale LNG project ever developed. NFE's proprietary Fast LNG design combines Chart's modular liquefaction technology with offshore infrastructure, enabling faster deployment than traditional facilities.
The project has a production capacity of 1.4 MTPA in a single train, equivalent to approximately 70 TBtus. This development positions NFE as a fully integrated leader in the global LNG market and will supply low-cost, clean LNG to NFE's downstream terminal customers. Chart Industries provided critical equipment, including brazed aluminum heat exchangers, cold boxes, and air coolers for the project.
Chart Industries (NYSE: GTLS) has won the 2024 Enlightened Growth Leadership Best Practices Award from Frost & Sullivan Institute. This award recognizes companies integrating sustainable practices with innovation and social responsibility. Chart was honored for its reduction of greenhouse gas emissions, strategic investments, and technological innovation across clean power, water, food, and industrial sectors.
Chart's recent initiatives include joining the UN Global Compact, aligning with principles on human rights, labor, environment, and anti-corruption. CEO Jill Evanko highlighted the company's commitment to sustainability and continuous improvement. The award underscores Chart's role in helping customers achieve ESG targets.
Details about the award and other recipients can be found here, and further information on Chart's sustainability efforts in their 2023 Sustainability Report.
Chart Industries (GTLS) will announce its Q2 2024 financial results on August 2, 2024, before the market opens. The company, a leader in clean energy and industrial gas markets, has scheduled a conference call for the same day at 8:30 a.m. ET to discuss the results. Interested participants can join the call using the provided dial-in numbers and conference ID. Additionally, a live webcast, replay, and presentation slides will be available on Chart's investor relations website. A telephone replay of the call will be accessible approximately two hours after the call and available until September 1, 2024.
Argent LNG has selected Chart Industries' mid-scale modular liquefaction solution for a new 20 MTPA LNG facility in Port Fourchon, Louisiana. This innovative approach, utilizing Chart's IPSMR® technology, challenges traditional large-scale LNG models by offering superior efficiency, flexibility, and cost-effectiveness. Scheduled to be operational by 2029/2030, the collaboration aims to redefine industry standards. Chart Industries is set to begin engineering work and expects equipment orders in 2025.
Chart Industries (NYSE: GTLS), a leader in clean energy and industrial gas solutions, announced the successful repricing of its $1,631 million senior secured term loan facility. The new terms lower the interest rate by 0.75% per annum, resulting in an anticipated annual interest expense saving of $14 million. The repricing will be implemented through an amendment to Chart's fifth amended and restated credit agreement, expected to close in July 2024, subject to customary conditions.
Chart Industries (NYSE: GTLS) has joined the United Nations (UN) Global Compact, a major global initiative focused on promoting sustainable and socially responsible business practices. The UN Global Compact encourages companies to align their operations and strategies with ten universal principles covering human rights, labor, environment, and anti-corruption. Chart Industries aims to support the UN Sustainable Development Goals through its Nexus of Clean solutions, which span clean power, clean water, clean food, and clean industrials, while enhancing its own ESG performance. CEO Jill Evanko expressed enthusiasm about the partnership, highlighting the potential for positive impacts on customers and communities. The UN Global Compact, launched in 2000, now boasts over 20,000 participating companies globally. For more details, the 2023 Sustainability Report is available.
Chart Industries (NYSE: GTLS) will supply its Howden hydrogen compression solutions for Repsol’s €657 million expansion of the Sines industrial complex in Portugal. This project, which includes new Polypropylene and Polyethylene plants, aims to produce 100% recyclable high-value materials using solar-powered green hydrogen. Scheduled for operation in 2025, it represents the largest industrial investment in Portugal in the past decade and aligns with Repsol's goal of achieving net-zero emissions by 2050. Chart will provide two diaphragm compressors to ensure reliable, contamination-free, high-pressure hydrogen delivery.
Chart Industries, a global solutions provider to clean energy and industrial gas markets, will have its executives participating in upcoming investor conferences. These include Citi’s 2024 Energy and Climate Technology Conference on May 14, Cowen’s 2nd Annual Sustainability Week on May 22, and Craig-Hallum 21st Annual Institutional Investor Conference on May 29. A live webcast presentation will be available on the company’s website.
Chart Industries, Inc. reported record-breaking results for the first quarter of 2024, with orders, sales, margins, and EBITDA all reaching historic highs. The company saw strong demand and a growing commercial pipeline, reflecting positive market trends. Despite some cash flow challenges in the first quarter, Chart Industries remains optimistic about the future and reiterates its 2024 guidance and medium-term outlook.
FAQ
What is the current stock price of Chart Industries (GTLS)?
What is the market cap of Chart Industries (GTLS)?
What does Chart Industries specialize in?
What are the core products of Chart Industries?
What are some of Chart Industries' key brands?
What recent acquisition has Chart Industries made?
What is the significance of the 'Teddy 2' facility?
What collaborations is Chart Industries involved in?
How is Chart Industries contributing to clean energy?
What is Chart Industries' financial strategy?
How many global locations does Chart Industries have?
What is Chart Industries' commitment to ESG?
