Chart Industries Stock Price, News & Analysis

Chart Industries has signed a letter of intent to acquire Sustainable Energy Solutions for $20 million in cash, plus an earn-out, aiming to close the deal within 30 days. SES’s Cryogenic Carbon Capture technology will enhance Chart’s capabilities in the clean energy sector, expanding their total addressable market from $400 million to $600 million. This acquisition will integrate carbon capture with various energy storage solutions and applications, providing comprehensive services to clients. The deal's impact on 2021 guidance is expected to be immaterial.

Chart Industries, Inc. (NASDAQ: GTLS) announced that CEO Jill Evanko received the 2020 Chief Trailblazer Award from S&P Global Platts. This prestigious accolade recognizes exceptional leadership and innovation in the energy sector, with over 300 nominations this year. Judges evaluated Evanko's achievements since January 2019, highlighting her ability to lead amidst challenges and drive the company forward in clean energy. The award reflects her contributions to advancing Chart's position in the industry during a tumultuous year.

Chart Industries, Inc. (NASDAQ: GTLS) announced that its President and CEO, Jill Evanko, has been named the 2020 World LNG Executive of the Year. This prestigious recognition from the World LNG Summit honors individuals for significant contributions to the LNG industry's future. Evanko acknowledged the award as a testament to the entire Chart team’s dedication to advancing the company in the LNG sector. Additionally, Chart was a finalist for the World LNG Award for Outstanding Contribution to the Industry and Energy Transition, showcasing its prominent role in clean energy solutions amid global challenges, including the COVID-19 pandemic.

Chart Industries (GTLS) has successfully acquired BlueInGreen (BIG) for $20 million in cash, with a potential earn-out of $6 million. This acquisition enhances Chart's water treatment solutions by integrating BIG's advanced gas-dissolution technology, which reduces gas consumption by 20-40%. The collaboration aims to generate $20 million in revenue by 2022 with a 50% gross margin. Chart anticipates no significant changes to its Q4 2020 outlook while increasing its 2021 sales forecast to between $1.260 and $1.335 billion, alongside diluted adjusted EPS expectations of $3.10 to $3.45.

Chart Industries (GTLS) has acquired Microbulk cryogenic tank assets from IC Biomedical as of November 2, 2020. This acquisition enhances Chart's Distribution & Storage product line and includes a unique food processing tank. The transaction is strategically significant, enhancing revenue synergies at a mid-single digit EBITDA multiple, without altering previous financial guidance for 2020 and 2021. CEO Jill Evanko emphasized the importance of this acquisition in supporting customer needs and expanding their product offerings.

Chart Industries reported its third quarter 2020 results, with orders of $262.7 million, marking a 7.4% sequential increase. The backlog reached $684.9 million, indicating strong demand in hydrogen equipment and LNG infrastructure. Despite a 19.2% decline in quarterly sales to $273.2 million, adjusted earnings per share rose to $0.63. The company anticipates full-year 2020 revenue of $1.18 billion and 2021 revenue between $1.25 billion and $1.325 billion. Strategic investments in hydrogen infrastructure and water treatment are expected to drive future growth.

Chart Industries announced its involvement in the U.S. Department of Energy's H2@Scale project in Texas, aimed at demonstrating renewable hydrogen as a cost-effective fuel. The project, supported by the Hydrogen and Fuel Cell Technologies Office, partners with firms like Frontier Energy and the University of Texas at Austin. Key goals include generating zero-carbon hydrogen via solar and wind, and conducting a feasibility study at the Port of Houston for scaling hydrogen production. This initiative promotes a viable hydrogen supply chain to reduce greenhouse gases.

Chart Industries (GTLS) announced a strategic investment of €30 million in McPhy, acquiring approximately 4.3% of its capital as part of a €150 million capital offering.

The partnership aims to enhance hydrogen production and distribution capabilities, with a projected market expansion for Chart’s hydrogen business to $1.1 billion by 2023. Both companies will work together to identify new customers and projects to stimulate global hydrogen demand.

Chart Industries has acquired the cryogenic and hydrogen trailer assets from Worthington Industries, enhancing its capabilities and market position. The acquisition includes a 300,000 square foot facility in Theodore, Alabama, adding significant manufacturing capacity for LNG products. CEO Jill Evanko highlighted expected hydrogen-related revenue from the facility in 2021, projected to be between $15 to $30 million. The strategic location near the Port of Mobile will improve service and leasing options for North and Central American customers.