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) regularly issues news that sheds light on its role in energy and industrial gas solutions, its participation in major projects, and its ongoing corporate transformation. The company describes itself as a global leader in the design, engineering, and manufacturing of process technologies and equipment for gas and liquid molecule handling, with a portfolio that spans LNG, hydrogen, biogas and CO2 capture applications.
News about Chart often covers large project awards and technology selections. Recent examples include being chosen by Bechtel Energy to supply air-cooled heat exchangers, brazed aluminum heat exchangers and cold boxes for Sempra Infrastructure’s Port Arthur LNG Phase 2 project, and LNG Alliance’s decision to adopt Chart’s IPSMR® process technology and modular liquefaction solution for the Amigo LNG export facility in Mexico. Such announcements highlight how Chart’s technologies are deployed in LNG export infrastructure and other energy projects.
Investors and industry observers will also find earnings releases and segment updates that detail order trends, sales by segment, margins and cash flow across Cryo Tank Solutions, Heat Transfer Systems, Specialty Products and Repair, Service and Leasing. These releases describe demand across LNG, hydrogen, data centers, space exploration, marine, nuclear, carbon capture and other end markets, as well as the growth of Chart’s aftermarket, service and repair activities and its Digital Uptime™ monitoring offering.
Another important category of news involves strategic and corporate developments. Chart has reported on the terminated stock-based merger agreement with Flowserve Corporation, the subsequent definitive agreement for an all-cash acquisition by Baker Hughes Company, shareholder approval of the Baker Hughes transaction, and related regulatory milestones. Leadership and governance updates, including the planned transition of CEO Jill Evanko to a Senior Advisor role and the appointment of Gerry Vinci as President, are also disclosed through company news.
For readers tracking GTLS, the news stream provides insight into Chart’s project pipeline, technology deployments, segment performance and the progress of its pending acquisition by Baker Hughes. Reviewing these updates over time can help contextualize the company’s strategic direction and its participation in clean energy and industrial gas markets.
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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.
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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.
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.