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. (NYSE: GTLS) regularly issues news that sheds light on its role in energy and industrial gas solutions, its participation in major projects, and its ongoing corporate transformation. The company describes itself as a global leader in the design, engineering, and manufacturing of process technologies and equipment for gas and liquid molecule handling, with a portfolio that spans LNG, hydrogen, biogas and CO2 capture applications.
News about Chart often covers large project awards and technology selections. Recent examples include being chosen by Bechtel Energy to supply air-cooled heat exchangers, brazed aluminum heat exchangers and cold boxes for Sempra Infrastructure’s Port Arthur LNG Phase 2 project, and LNG Alliance’s decision to adopt Chart’s IPSMR® process technology and modular liquefaction solution for the Amigo LNG export facility in Mexico. Such announcements highlight how Chart’s technologies are deployed in LNG export infrastructure and other energy projects.
Investors and industry observers will also find earnings releases and segment updates that detail order trends, sales by segment, margins and cash flow across Cryo Tank Solutions, Heat Transfer Systems, Specialty Products and Repair, Service and Leasing. These releases describe demand across LNG, hydrogen, data centers, space exploration, marine, nuclear, carbon capture and other end markets, as well as the growth of Chart’s aftermarket, service and repair activities and its Digital Uptime™ monitoring offering.
Another important category of news involves strategic and corporate developments. Chart has reported on the terminated stock-based merger agreement with Flowserve Corporation, the subsequent definitive agreement for an all-cash acquisition by Baker Hughes Company, shareholder approval of the Baker Hughes transaction, and related regulatory milestones. Leadership and governance updates, including the planned transition of CEO Jill Evanko to a Senior Advisor role and the appointment of Gerry Vinci as President, are also disclosed through company news.
For readers tracking GTLS, the news stream provides insight into Chart’s project pipeline, technology deployments, segment performance and the progress of its pending acquisition by Baker Hughes. Reviewing these updates over time can help contextualize the company’s strategic direction and its participation in clean energy and industrial gas markets.
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.
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.
Summary not available.
Summary not available.
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.
FAQ
What is the current stock price of Chart Industries (GTLS)?
What is the market cap of Chart Industries (GTLS)?
