Chart Industries Stock Price, News & Analysis

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.

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.