Chart Industries Stock Price, News & Analysis

Chart Industries, Inc. (GTLS) has announced a conference call scheduled for October 22, 2020, at 9:30 a.m. ET to discuss its third quarter financial results. The earnings release will be issued before 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 7878627. A replay will be accessible on the investor relations website after the call, lasting until October 29, 2020.

Chart Industries completed the divestiture of its MVE Biological Products business to Cryoport for $320 million in cash. Concurrently, a master supply agreement with Plug Power was executed for liquid hydrogen storage equipment, resulting in $7.8 million in equipment orders. Chart anticipates strong growth in LNG ISO container demand, highlighted by a $7.7 million leasing order from New Fortress Energy. These agreements bolster Chart's position in the hydrogen economy, contributing positively to its growth strategy.

Chart Industries, Inc. (GTLS) announced the sale of its cryobiological products business to Cryoport, Inc. for $320 million in cash, expected to close in Q4 2020. This divestiture aligns with Chart's strategy to focus on clean energy offerings while reducing debt, projecting a net leverage ratio of 1.78X. The company anticipates 2020 revenue of approximately $1.2 billion, with adjusted EPS around $2.25. Additionally, it has a positive 2021 outlook, estimating revenues between $1.25 billion and $1.325 billion and adjusted EPS of $2.90 to $3.25, emphasizing growth in hydrogen and carbon capture sectors.

Chart Industries reported strong second quarter 2020 results, achieving $267.6 million in orders, with June marking the highest order month of the year. Key highlights include a gross margin increase to 29.8% and $61.2 million in annualized cost savings initiated. Adjusted earnings per share reached $0.63, while medical oxygen-related orders rose by 23.9%. The company anticipates 2020 revenues between $1.3 billion and $1.4 billion, supported by growth in LNG and hydrogen markets. Their backlog stands at $697.3 million, including significant utility-scale contracts.

Chart Industries has scheduled a conference call for July 23, 2020, at 9:30 a.m. ET to discuss its Q2 2020 financial results. The earnings release will be issued prior to market open on the same day. Participants can join by dialing provided phone numbers or via the webcast on the investor relations website. A replay of the call will be available for one week following the event, reflecting Chart's commitment to transparency and shareholder communication.

Chart Industries (GTLS) provided a mid-second quarter update, reporting $15.5 million in net cash from operations and $12.6 million in free cash flow for April 2020. The company completed a five-year agreement with a major industrial gas customer and booked orders from 67 new customers during April and May. Year-to-date cost reductions total $60.7 million. Despite challenges in oil-related products, demand for clean energy solutions remains strong, with significant orders expected in the coming months, including a small-scale LNG terminal.