Chart Industries Stock Price, News & Analysis

Chart Industries (GTLS) will host a conference call on April 28, 2023, at 8:30 a.m. ET to discuss Q1 2023 financial results. The company anticipates issuing its earnings release prior to market opening on the same day. Chart reported a strong demand for Q1 2023, with orders approximating $740 million, including the ownership period for Howden. Furthermore, the company noted record backlogs for both Chart and Howden standalone operations. Additional insights regarding performance, future projections, and debt reduction efforts will be shared during the upcoming call. For further details, stakeholders can refer to Chart’s Form 8-K filed with the SEC.

Chart Industries (GTLS) has expanded its partnership with McPhy Energy and Larsen & Toubro (L&T) to enhance opportunities in the green hydrogen market. L&T will manufacture electrolyzers based on McPhy’s technology, including a Gigawatt-scale facility. Chart and McPhy have a commercial MOU for hydrogen production processes. This collaboration aims to strengthen the hydrogen economy in India, leveraging Chart's capabilities in hydrogen compression and McPhy's electrolyzer technology. Both Chart and L&T are positioned to lead in the growing hydrogen market, reflecting a significant step towards decarbonization efforts in India.

Chart Industries (GTLS) and Nikola Corporation (NKLA) announced a strategic collaboration to develop hydrogen infrastructure solutions, including liquid hydrogen storage tanks and modular refueling stations. This partnership aims to support Nikola's efforts in deploying hydrogen electric vehicles, bolstering zero-emission transportation. Nikola has placed orders for various hydrogen storage and refueling equipment to facilitate its vehicle deployment, which is designed to help decarbonize the transport sector. The new solutions promise lower capital investment and operational costs, making it easier for smaller fleets to adopt hydrogen technology.

Chart Industries completed the acquisition of Howden for approximately $4.4 billion, enhancing its offerings in industrial gas, LNG, hydrogen, and carbon capture.

This strategic move aims to create a differentiated product range and is expected to generate $175 million in annualized cost synergies and $150 million in commercial synergies within the first year. Chart's 2023 guidance reflects these changes, with a projected increased geographic footprint spanning over 35 countries.

Despite strong demand in early 2023, Chart is pursuing divestitures of two product lines, with completion anticipated by mid-2023.

Chart Industries (NYSE: GTLS) and ZEV Stations, Co. have signed a Memorandum of Understanding (MoU) to collaboratively develop multimodal hydrogen stations in the U.S. utilizing Chart's equipment. The initiative aims to optimize fueling for heavy-duty vehicles, combining both gaseous and liquid hydrogen standards at a single station, capable of filling up to 8 kg per minute. Chart will provide liquid hydrogen fuel station equipment, benefiting from nearly 60 years of experience in hydrogen manufacturing. The partnership focuses on accelerating the transition to hydrogen as a clean fuel alternative while enhancing operational efficiency.

Chart Industries is set to present at the Bank of America Global Industrials Conference on March 21, 2023, at 12:15 p.m. GMT (8:15 a.m. ET). The presentation will be led by Jill Evanko, President and CEO. Investors can access a live webcast of the event on Chart’s investor information website. Chart Industries is a leader in manufacturing equipment for clean energy, industrial gas, and diversified specialty markets, committed to excellence in environmental, social, and corporate governance (ESG). The company operates over 25 manufacturing locations globally, providing technology for liquefied natural gas, hydrogen, and CO2 capture.

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.