Chart Industries Stock Price, News & Analysis

Chart Industries (NYSE: GTLS) has secured all necessary regulatory approvals to complete the acquisition of Howden from KPS Capital Partners, LP. The deal is expected to close soon, pending customary closing conditions. Howden is renowned for its air and gas handling products, and with over 160 years of expertise, it serves diverse global markets. This acquisition aims to enhance operational efficiency and contribute to environmental goals, including decarbonization. Chart will provide updated financial guidance for the combined entity after closing. Future events include a presentation at the Bank of America Global Industrials Conference on March 21, 2023.

GenH2 and Chart Industries have formed a strategic partnership to enhance global distribution of small-scale hydrogen liquefaction technologies.

This collaboration aims to address the increasing demand for liquid hydrogen amidst supply shortages. GenH2's 1,000 kg/day liquefier will utilize Chart equipment, boosting performance and efficiency.

The integration of GenH2's technology into Chart's existing infrastructure allows for scalable deployment and market expansion. Both companies plan to develop relationships across the hydrogen value chain and pursue new customer opportunities, marking a significant step towards a cleaner energy transition.

Chart Industries reported record financial results for Q4 2022 and full-year 2022, with total orders reaching $2.78 billion—a 65.9% increase from 2021. Q4 orders alone were $525.9 million, marking a 14.1% year-over-year growth. Sales hit a record $1.61 billion for the year, driven by strong demand across all segments despite a 3.9% foreign exchange headwind.

Adjusted EBITDA for Q4 was $97.5 million, with a quarterly adjusted EPS of $1.67. The company anticipates its acquisition of Howden to close within 45 days and reiterated its 2023 sales outlook between $2.10 billion and $2.20 billion.

Chart Industries (NYSE: GTLS) is set to announce its fourth quarter and full year 2022 financial results on February 24, 2023. The earnings release will occur before the market opens, followed by a conference call at 8:30 a.m. ET to discuss the results. Investors can access a live webcast on the company's investor relations website. Chart Industries specializes in manufacturing equipment for clean energy, industrial gas, and other specialty markets, with a commitment to environmental and corporate governance.

On January 4, 2023, Chart Industries (NYSE: GTLS) and BNG Clean Fuel Corporation announced a Memorandum of Understanding (MOU) for Chart to supply hydrogen liquefaction technology and equipment. The partnership aims to establish hydrogen fueling stations and foster industry relationships for hydrogen production and distribution. BNG's DenverH2 pilot hub is set to include dual-22 ton per day hydrogen liquefaction facilities and multiple liquid hydrogen stations, with anticipated orders from Chart expected in 2023 and 2024.

Chart Industries, a leader in clean energy technology, will present at the Goldman Sachs Global Energy and Clean Technology Conference on January 6, 2023, at 12:40 p.m. ET in Miami, Florida. CEO Jill Evanko will represent the company, highlighting its commitment to innovative solutions in the energy and industrial gas markets. Chart Industries specializes in liquefied natural gas, hydrogen, and CO2 Capture, with a global presence in over 25 manufacturing locations. A live webcast will be available on their website for those interested in the event.

Raven SR and Chart Industries (GTLS) have announced a global collaboration focused on the liquefaction, storage, and transportation of hydrogen and carbon dioxide produced from Raven SR's non-combustion process. The Memorandum of Understanding includes engineering packages and equipment provided by Chart to enhance Raven SR's ability to supply hydrogen and CO₂ as products. This partnership aims to optimize production facilities for clean fuels while supporting emissions reduction goals through a supply chain solution that converts captured biocarbon into liquefied products.

Chart Industries has priced its concurrent offerings of 5,923,670 shares of common stock at $118.17 per share and 7,000,000 depositary shares at $50 per share. The net proceeds are estimated at $675.5 million for common stock and $337.8 million for depositary shares. Funds will partly finance the acquisition of Howden. Holders of depositary shares will receive proportional rights of the preferred stock, converting into common stock by December 2025, with a dividend rate of 6.75%.

Chart Industries, Inc. (NYSE: GTLS) has priced a significant offering of $1.46 billion in 7.500% senior secured notes due 2030, and $510 million in 9.500% unsecured notes due 2031. The notes are set to close on December 22, 2022, subject to customary conditions. Proceeds will fund the acquisition of Howden and cover associated costs. The secured notes will have first-priority liens on assets supporting Chart’s credit obligations. This offering is limited to qualified institutional buyers and non-U.S. persons under Regulation S, and is not registered under the Securities Act.