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. reports developments tied to energy and industrial gas solutions, including process technologies and equipment for gas and liquid molecule handling. Company updates commonly cover stationary and rotating equipment used across the liquid gas supply chain, with applications in liquefied natural gas, hydrogen, biogas, CO2 capture, clean water, clean food, clean power, and industrial processes.
Recurring news themes include operating and financial results, capital-structure matters, material agreements, shareholder voting topics, governance changes, and project awards for equipment such as air-cooled heat exchangers, brazed aluminum heat exchangers, and cold boxes. Chart’s disclosures also address service, repair, installation, preventive maintenance, and digital monitoring activities across its global manufacturing and service footprint.
Chart Industries will hold a conference call on November 14, 2022, at 8:30 a.m. ET to discuss the acquisition of Howden. Participants can join by calling (800) 715-9871 in the U.S. or (646) 307-1963 internationally, using conference ID 4986008. A slide presentation will be available before the call, and a live webcast will be accessible on Chart's investor relations website.
Chart Industries is a leading manufacturer providing equipment for the energy and industrial gas markets, focusing on clean energy technologies.
KPS Capital Partners has reached a definitive agreement to sell Howden to Chart Industries for $4.4 billion. Howden specializes in air and gas handling solutions and has shown notable growth under KPS's ownership, including significant investments and seven acquisitions that enhanced its market position. With over 6,500 employees globally, Howden aims to continue its growth trajectory as part of Chart Industries, benefiting from synergies in sustainability and industrial applications. The transaction is pending customary closing conditions and approvals.
Chart Industries (NYSE: GTLS) has announced a definitive agreement to acquire Howden for $4.4 billion, funded through cash and a new class of preferred stock. This acquisition is expected to close in the first half of 2023, pending regulatory approvals. With a projected combined revenue of $3.4 billion, the deal marks a significant expansion for Chart in the air and gas handling sector. Estimated synergies include $175 million in cost savings within the first year and $350 million in commercial synergies by year three, enhancing Chart's position in clean energy technologies.
Chart Industries (NYSE: GTLS) and CarbonCure Technologies have deepened their collaboration to enhance equipment for liquid carbon dioxide storage and transport. This partnership will utilize Chart's Cryogenic Carbon Capture technology at concrete facilities globally. The agreement aims to support CarbonCure's carbon removal technologies by employing Chart’s cryogenic storage tanks and trailers for CO2 transport. This initiative seeks to permanently embed captured CO2 in concrete, significantly reducing the industry's carbon footprint.
Flowserve Corporation (NYSE: FLS) and Chart Industries, Inc. (NYSE: GTLS) have entered into an agreement to advance hydrogen technology as a cleaner fuel source. Flowserve will acquire R&D from Chart related to liquid hydrogen fueling pumps and will become the sole manufacturer. These pumps will support more than 100 planned hydrogen fueling systems for fuel cell vehicles, set to roll out in California, Australia, and South Korea over the next five years. This partnership aligns with Flowserve's strategy for diversification and decarbonization.
Chart Industries reported third quarter 2022 results, showcasing record figures in backlog, sales, gross margin, operating income, and EPS. The backlog reached $2,254.1 million (+104% year-over-year), while sales surged to $412.1 million (+25.5%). Gross margin also hit a record of $104.6 million (+39.7%). Operating income increased by 202.2% to $41.7 million, with diluted EPS at $1.15 and adjusted EPS at $1.49. The company anticipates 2023 sales between $2.10 billion and $2.20 billion, reflecting strong demand across its product offerings and positive impacts from the Inflation Reduction Act.
Chart Industries, Inc. (NYSE: GTLS) will hold a conference call on October 28, 2022, at 8:30 a.m. ET to discuss its third quarter 2022 financial results. An earnings release will be available before market open that day. The company, a key player in the clean energy and industrial gas markets, specializes in liquefied natural gas, hydrogen, and CO2 capture technologies. Investors can access a live webcast and replay on the company’s investor relations website. The firm emphasizes its commitment to environmental, social, and corporate governance (ESG) practices.
Chart Industries (GTLS) and C.A.T. Group have signed a Memorandum of Understanding to provide carbon capture solutions in the Middle East and Africa. The partnership aims to leverage Chart’s technology in carbon capture and C.A.T.’s extensive industry relationships. This collaboration focuses on offering optimized, turn-key solutions to state-owned and energy companies. Chart’s CEO Jill Evanko expressed confidence that this partnership will accelerate clean energy initiatives in the region, aligning with the global energy transition.
Chart Industries (GTLS) has signed a Memorandum of Understanding with The Agricultural Gas Company (AG Gas) to market CO2 enrichment solutions for agriculture, enhancing crop yields and water efficiency. The partnership combines AG Gas's patented technology with Chart's cryogenic tanks, currently deployed in California. Both companies aim to utilize captured industrial CO2 for agricultural benefits, exemplifying sustainability in clean energy. The collaboration is seen as a significant step towards using CO2 effectively in the agricultural sector.
Chart Industries reported record-breaking financial results for Q2 2022, including orders of $887.8 million, sales of $404.8 million, and a backlog of $1,953.3 million. This marks a 25.7% increase in sales year-over-year. The company achieved a non-diluted EPS of $0.36, with adjusted EPS at $0.88. Full-year sales guidance was narrowed to $1.725 billion to $1.80 billion, with adjusted EPS forecasted between $5.20 and $5.60. Chart also acquired Fronti Fabrications and CSC Cryogenic Service Center, expanding its operational capabilities amidst rising global demand for LNG and clean energy solutions.