Chart Industries Stock Price, News & Analysis

Opus One Winery, a pioneer in ultra-premium winemaking in Napa Valley, is expanding its deployment of Chart Industries' (NYSE: GTLS) carbon capture solutions for the third consecutive year. The winery plans to double the CO2 captured during the 2024 Harvest using Chart's Earthly Labs' CiCi (Oak) technology. This expansion will capture CO2 emitted during red wine fermentation, which is then purified, liquefied, and reused on-site to make dry ice, eliminating traditional transportation emissions.

Opus One will also pilot an upgraded visualization dashboard using the Chart Howden Uptime platform. The winery, which achieved Napa Green vineyard and winery certification in 2018, continues to demonstrate its commitment to environmentally conscious winemaking practices and decarbonization efforts.

Chart Industries, Inc. (NYSE: GTLS), a leading global provider of solutions for clean energy and industrial gas markets, has announced its participation in the Barclays 38th Annual CEO Energy-Power Conference in New York. The company's presentation is scheduled for September 4th, 2024, at 2:25 p.m. ET.

Key points:

• President and CEO Jill Evanko and CFO Joe Brinkman will attend meetings on September 4th
• A live webcast of the presentation will be available on Chart Industries' website
• A replay of the webcast will be accessible after the event concludes

This conference provides an opportunity for Chart Industries to showcase its position in the clean energy and industrial gas sectors to investors and industry professionals.

Chart Industries (NYSE: GTLS) reported record second quarter 2024 results, with sales up 18.8% to $1.04 billion and orders increasing 12.1% to $1.16 billion year-over-year. The company achieved record gross margin of 33.8%, up 310 basis points, and record adjusted EBITDA of $257.3 million (24.7% of sales). Adjusted diluted EPS was $2.18. Free cash flow was $88 million, with net leverage ratio reduced to 3.26.

Chart reiterated its 2024 outlook with sales expected between $4.45-$4.60 billion, adjusted EBITDA of $1.08-$1.15 billion, and adjusted EPS of $10.75-$11.75. The company also maintained its medium-term targets, including mid-teens organic revenue growth through 2026 and reported gross profit margin in the mid-30% range by 2026.

Chart Industries, Inc. (NYSE: GTLS) announces the successful delivery of First LNG at New Fortress Energy's (NFE) Fast LNG project in Altamira, Mexico, using Chart's IPSMR® process technology. This milestone establishes FLNG as the fastest large-scale LNG project ever developed. NFE's proprietary Fast LNG design combines Chart's modular liquefaction technology with offshore infrastructure, enabling faster deployment than traditional facilities.

The project has a production capacity of 1.4 MTPA in a single train, equivalent to approximately 70 TBtus. This development positions NFE as a fully integrated leader in the global LNG market and will supply low-cost, clean LNG to NFE's downstream terminal customers. Chart Industries provided critical equipment, including brazed aluminum heat exchangers, cold boxes, and air coolers for the project.

Chart Industries (NYSE: GTLS) has won the 2024 Enlightened Growth Leadership Best Practices Award from Frost & Sullivan Institute. This award recognizes companies integrating sustainable practices with innovation and social responsibility. Chart was honored for its reduction of greenhouse gas emissions, strategic investments, and technological innovation across clean power, water, food, and industrial sectors.

Chart's recent initiatives include joining the UN Global Compact, aligning with principles on human rights, labor, environment, and anti-corruption. CEO Jill Evanko highlighted the company's commitment to sustainability and continuous improvement. The award underscores Chart's role in helping customers achieve ESG targets.

Details about the award and other recipients can be found here, and further information on Chart's sustainability efforts in their 2023 Sustainability Report.

Chart Industries (GTLS) will announce its Q2 2024 financial results on August 2, 2024, before the market opens. The company, a leader in clean energy and industrial gas markets, has scheduled a conference call for the same day at 8:30 a.m. ET to discuss the results. Interested participants can join the call using the provided dial-in numbers and conference ID. Additionally, a live webcast, replay, and presentation slides will be available on Chart's investor relations website. A telephone replay of the call will be accessible approximately two hours after the call and available until September 1, 2024.

Argent LNG has selected Chart Industries' mid-scale modular liquefaction solution for a new 20 MTPA LNG facility in Port Fourchon, Louisiana. This innovative approach, utilizing Chart's IPSMR® technology, challenges traditional large-scale LNG models by offering superior efficiency, flexibility, and cost-effectiveness. Scheduled to be operational by 2029/2030, the collaboration aims to redefine industry standards. Chart Industries is set to begin engineering work and expects equipment orders in 2025.

Chart Industries (NYSE: GTLS), a leader in clean energy and industrial gas solutions, announced the successful repricing of its $1,631 million senior secured term loan facility. The new terms lower the interest rate by 0.75% per annum, resulting in an anticipated annual interest expense saving of $14 million. The repricing will be implemented through an amendment to Chart's fifth amended and restated credit agreement, expected to close in July 2024, subject to customary conditions.

Chart Industries (NYSE: GTLS) has joined the United Nations (UN) Global Compact, a major global initiative focused on promoting sustainable and socially responsible business practices. The UN Global Compact encourages companies to align their operations and strategies with ten universal principles covering human rights, labor, environment, and anti-corruption. Chart Industries aims to support the UN Sustainable Development Goals through its Nexus of Clean solutions, which span clean power, clean water, clean food, and clean industrials, while enhancing its own ESG performance. CEO Jill Evanko expressed enthusiasm about the partnership, highlighting the potential for positive impacts on customers and communities. The UN Global Compact, launched in 2000, now boasts over 20,000 participating companies globally. For more details, the 2023 Sustainability Report is available.