Chart Industries - GTLS STOCK NEWS

Chart Industries (NYSE: GTLS) has announced that Cheniere Energy (NYSE: LNG) achieved its first LNG production from Train 1 of the Corpus Christi Stage 3 Liquefaction Project. Chart is supporting the project with its IPSMR® process technology for LNG Liquefaction and associated equipment. The commissioning process is ongoing, with substantial completion expected by the end of Q1 2025, which is more than six months ahead of the guaranteed completion date. Upon completion, Bechtel will transfer control of the train to Cheniere.

Chart Industries (NYSE: GTLS) has announced a $250 million share repurchase program authorized by its Board of Directors. The company can execute the buyback through various means, including open market transactions, block purchases, and privately negotiated transactions, in compliance with federal securities laws.

However, Chart emphasizes that no share repurchases or material cash acquisitions will occur until the company's net leverage falls below 2.5, unless necessitated by a significant market event. As of September 30, 2024, the company's net leverage ratio was 3.04. Chart expects to reduce its debt to $3 billion by the end of 2025, focusing on debt reduction, shareholder value, and capital deployment for growth.

Chart Industries (NYSE: GTLS), a global leader in clean energy and industrial gas solutions, has announced its participation in the Wells Fargo 23rd Annual Midstream, Energy & Utilities Symposium in New York. Jill Evanko, President and CEO, will engage in a fireside discussion on Wednesday, December 11th, with the webcast scheduled for 8:45 a.m. ET.

The presentation will be accessible via live audio webcast on the company's website, with a replay available after the event's conclusion.

Chart Industries (NYSE: GTLS), a global leader in clean energy and industrial gas solutions, announced its Capital Markets Day event on November 12, 2024, starting at 9:00 am ET. The company released a supplemental presentation to be discussed during the event and webcast. Additionally, Chart's management will participate in the Baird 2024 Global Industrial Conference in Chicago on November 13, 2024. The event will be accessible via live webcast on the company's website, with presentation slides available and a replay option after the event.

Chart Industries (NYSE: GTLS) reported strong Q3 2024 results with sales of $1.06 billion, up 22.4% year-over-year. Orders reached $1.17 billion, increasing 5.4%. The company achieved record reported gross profit margin of 34.1% and adjusted operating margin of 22.2%. Free cash flow was $174.6 million, contributing to a net leverage ratio reduction to 3.04.

Key financial metrics include reported EBITDA of $248.4 million (23.4% of sales) and adjusted EBITDA of $260.7 million (24.5% of sales). The company reported diluted EPS of $1.34 and adjusted diluted EPS of $2.18. For full-year 2024, Chart expects sales of $4.20-4.30 billion and adjusted EBITDA of $1.015-1.045 billion.

ExxonMobil, representing Mozambique Rovuma Venture (MRV), has chosen Chart Industries' (NYSE: GTLS) IPSMR® liquefaction technology and proprietary equipment for the Rovuma LNG project located at the Afungi peninsula in Mozambique. The project will produce, liquefy, and market natural gas from the Area 4 block in the offshore Rovuma Basin. It includes constructing 12 modules, each with a capacity of 1.5 MTA, totaling 18 million tonnes annually, alongside associated onshore facilities. This selection aims to enhance project competitiveness, reliability, and reduce GHG emissions. MRV is a joint venture owned by ExxonMobil, Eni, and CNPC, holding a 70% interest in Area 4, with ENH, KOGAS, and Galp each holding 10%.

Chart Industries, Inc. (NYSE: GTLS), a global leader in energy and industrial gas solutions, has announced its plans to release third quarter 2024 financial results on November 1, 2024. The company will hold a conference call at 8:30 a.m. ET on the same day to discuss the results. Interested participants can join the live Q&A session via phone or access a live webcast on the company's investor relations website. The earnings release will be issued prior to market open on November 1st.

For those wishing to dial in, the toll-free number for North America is (+1) 800 549 8228, while the toll number for North America and other locations is (+1) 289 819 1520. The conference ID is 35817. A replay of the call will be available until December 1, 2024, accessible at 1-888-660-6264 with passcode 35817.

Chart Industries (NYSE: GTLS) has announced its upcoming Capital Markets Day scheduled for November 12, 2024, from 9:00 a.m. to 11:00 a.m. eastern time at the New York Stock Exchange. The event will be accessible both in-person and via webcast on the company's investor relations website. Following this, Chart will participate in Baird's 2024 Global Industrial Conference in Chicago on November 13, 2024, meeting with institutional investors.

Additionally, Chart has released a presentation for discussion at the Barclays 38th Annual CEO Energy-Power Conference on September 4, 2024, at 2:25 p.m. eastern time. Investors can access the live webcast, replay, and presentation slides on Chart's investor relations website.

Chart Industries (NYSE: GTLS) has announced a partnership with Element Resources to advance the adoption of hydrogen and clean fuels using an 'eco-system' approach. The collaboration aims to build out hydrogen fuel supply, distribution, storage, transportation, and end-user facilities. This partnership follows Chart's selection by Element in March 2024 to supply equipment for the Lancaster Clean Energy Center project, the largest permitted renewable green hydrogen production facility in Lancaster, California.

The partnership leverages Chart's 158+ years of experience in hydrogen-related equipment and Element's expertise in green hydrogen production. Together, they aim to provide customers with a turnkey, full solution offering across the entire gaseous and liquid hydrogen value chain, potentially accelerating the adoption and deployment of hydrogen.