Chart Industries Stock Price, News & Analysis

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.

Chart Industries (NYSE: GTLS) announced concurrent offerings totaling $900 million, comprising $600 million in common stock and $300 million in depositary shares, subject to market conditions. The offerings include an option for underwriters to purchase additional shares. Proceeds will help reduce the equity stake in Series A Preferred Stock related to the acquisition of Howden. Holders of the Depositary Shares will receive rights akin to the Preferred Stock, which is expected to convert into common stock by December 2025. No public market exists yet for these securities.

Chart Industries (NYSE: GTLS) announced plans to offer up to $1.31 billion in senior secured notes due in 2030 and $750 million in senior unsecured notes due in 2031. The proceeds will fund the acquisition of Howden and cover associated expenses. The secured notes will be guaranteed by Chart's wholly owned domestic subsidiaries and secured by first-priority liens on assets. The offering will occur privately, following Rule 144A and Regulation S of the Securities Act, and will not be registered under the Securities Act.