Chart Industries Stock Price, News & Analysis

Chart Industries (NYSE: GTLS) has received a Notice to Proceed for engineering work on New Fortress Energy’s (NASDAQ: NFE) 1.4 MTPA LNG offshore liquefaction project. The project, valued at $47 million, is expected to complete by the end of 2022, featuring Chart's patented ISPMR® process technology and other essential equipment. CEO Jill Evanko expressed excitement about this unique partnership, highlighting NFE's leadership in clean energy.

Chart Industries reported a robust Q4 and full-year 2020, achieving a record backlog of $810 million and generating $60.2 million in net cash from operations. The company recorded total sales of $312.4 million in Q4, leading to a 178% increase in diluted earnings per share to $1.28. Full-year guidance for 2021 estimates revenue between $1.32 billion and $1.38 billion, with adjusted EPS anticipated at $3.50 to $4.00. The company completed four acquisitions, contributing to expected double-digit revenue growth while maintaining a strong cost structure.

Chart Industries announced the acquisition of Cryogenic Gas Technologies for $55 million in cash. Cryo Technologies specializes in custom-engineered systems for industrial gases like hydrogen and helium. This acquisition is expected to add approximately $30 million in revenue and boost non-diluted earnings per share by $0.15 to $0.20 for Chart in 2021. The combined expertise will enhance Chart's capacity in the hydrogen and helium markets, creating a unique full-solution supplier in liquefaction and storage.

Chart Industries (GTLS) and Ballard Power Systems (BLDP) announced a Memorandum of Understanding (MOU) to collaborate on developing integrated systems for hydrogen-powered heavy-duty transportation, focusing on buses, trucks, rail, and marine vessels. This partnership leverages nearly 100 years of combined experience in hydrogen solutions, aiming to accelerate the adoption of liquid hydrogen (LH2) technologies. Chart will offer expertise in LH2 systems, while Ballard will contribute fuel cell technology and market access.

Chart Industries, NYSE: GTLS, has joined a coalition of 11 companies called Hydrogen Forward, aiming to advance hydrogen development in the U.S. This initiative emphasizes hydrogen's role in decarbonizing energy-intensive industries like transportation and mining. CEO Jillian Evanko noted the company’s long-standing production of hydrogen-related equipment and its applications across various sectors. Hydrogen Forward seeks to promote policies that facilitate energy transition and infrastructure development for hydrogen technologies.

Chart Industries (GTLS) has announced a conference call on February 18, 2021, at 9:30 a.m. ET to discuss its fourth quarter and full year 2020 financial results. The earnings release will be issued prior to market open on the same day. Participants can join by dialing (877) 312-9395 in the U.S. or (970) 315-0456 internationally, using Conference ID 7484415. A replay will be available one hour after the call concludes, with access through the investor relations website.

Chart Industries specializes in high-engineered equipment for the energy and industrial gas markets.

Chart Industries announced its plan to transfer its common stock listing from NASDAQ to the New York Stock Exchange (NYSE) effective February 1, 2021, with the ticker symbol GTLS remaining the same. This transition is expected to enhance the company's visibility and partnerships, especially as four of its top five customers are also NYSE-listed. Chart's CEO expressed enthusiasm for the move, highlighting the benefits of joining a global exchange known for innovation and leadership in clean energy.

Chart Industries (GTLS) has signed a Memorandum of Understanding (MOU) with Matrix Service Company (MTRX) to develop standardized hydrogen solutions in North America. This collaboration aims to enhance hydrogen liquefaction, storage, and fueling infrastructure, leveraging both companies' expertise. Chart reported over $38 million in hydrogen equipment orders in 2020, contributing to a total of $283.6 million in specialty market orders. The partnership focuses on cost-effective and scalable hydrogen solutions, supporting the clean energy transition.

Chart Industries (GTLS) has completed the acquisition of Sustainable Energy Solutions (SES) on December 23, 2020. SES’s Cryogenic Carbon Capture technology significantly reduces fossil fuel emissions while enhancing renewable energy storage. This acquisition integrates SES's technology with Chart's existing equipment, providing a comprehensive solution for carbon capture and energy storage. Effective from year-end 2020, SES's contributions will be reported under the Specialty Products segment, targeting a $4.3 billion market potential across multiple industries, including hydrogen and water treatment.