If You Invested in Chart Industries (GTLS)

Chart Industries, Inc. (NYSE: GTLS) is described in its public disclosures as a global leader in the design, engineering, and manufacturing of process technologies and equipment for gas and liquid molecule handling. The company focuses on what it calls the Nexus of Clean™ – clean power, clean water, clean food, and clean industrials – and emphasizes that its technologies apply "regardless of molecule." This positions Chart within the broader energy and industrial gas solutions space, serving a range of energy and industrial end markets.

Core business and solutions focus

According to multiple company press releases, Chart’s product and solution portfolio spans stationary and rotating equipment used in every phase of the liquid gas supply chain. This includes equipment and process technologies used from installation through preventive maintenance and digital monitoring, as well as engineering, service and repair activities. Chart states that it is a leading provider of technology, equipment and services related to liquefied natural gas (LNG), hydrogen, biogas and CO₂ capture, among other applications.

The company highlights that customers use its technologies in energy and industrial gas applications, and in high-growth areas such as carbon capture and data centers. Chart also reports activity in end markets including space exploration, marine, nuclear, mining, chemicals, infrastructure, food & beverage, and power, as reflected in its segment and order commentary.

Business segments and end markets

In its financial news releases, Chart describes operations across four primary segments:

• Cryo Tank Solutions (CTS) – focuses on cryogenic tank products, with exposure to industrial gas and other cryogenic applications.
• Heat Transfer Systems (HTS) – provides heat transfer equipment, including air-cooled heat exchangers and related systems, with significant activity in LNG, data centers, and traditional energy end markets.
• Specialty Products (SP) – addresses applications in hydrogen and helium, nuclear, carbon capture, mining, space, marine, chemicals, infrastructure and other specialized markets.
• Repair, Service and Leasing (RSL) – concentrates on aftermarket, service and repair, retrofit, spares, long-term service and framework agreements, and leasing.

These segments reflect Chart’s mix of original equipment and aftermarket/service activities, and its participation in both traditional energy and newer clean energy and industrial applications.

Geographic footprint and operations

Chart states that it has dozens of global manufacturing locations and over 50 service centers spanning the United States, Asia, Australia, India, Europe and South America. This footprint supports customers across energy, industrial gas and other end markets worldwide. The company emphasizes accountability and transparency to team members, suppliers, customers and communities in these regions.

Selected technologies and project roles

Chart’s disclosures highlight specific technologies and project roles that illustrate its business focus:

• LNG process technology and equipment: Chart has been selected to supply air-cooled heat exchangers, brazed aluminum heat exchangers and cold boxes for Sempra Infrastructure’s Port Arthur LNG Phase 2 project, after previously supplying equipment for Phase 1.
• IPSMR® liquefaction technology: LNG Alliance selected Chart’s IPSMR® (Integrated Pre-cooled Single Mixed Refrigerant) process technology and modular liquefaction solution for the Amigo LNG export facility in Guaymas, Sonora, Mexico. Chart describes IPSMR® as enabling customers to tailor liquefaction systems to site-specific conditions and to match compression power with cold box capacity.
• Aftermarket and digital offerings: Chart reports a growing aftermarket, service and repair business, including multi-year service agreements, retrofit and spares orders, and increasing assets connected to its Digital Uptime™ monitoring offering.

Corporate developments and strategic transactions

Chart’s recent filings and news describe several significant corporate developments:

• Howden acquisition: The company notes that it completed the acquisition of Howden, and references step-up amortization related to this acquisition in its financial results. Earlier descriptions state that this transaction substantially increased the size of the company.
• Terminated Flowserve merger: Chart and Flowserve Corporation entered into a merger agreement for a stock-based combination, which was later terminated. Flowserve disclosed that it would receive a termination payment, and Chart recorded a merger termination fee expense related to this outcome.
• Pending acquisition by Baker Hughes: On July 28, 2025, Chart and Baker Hughes Company entered into an Agreement and Plan of Merger under which Baker Hughes will acquire all outstanding shares of Chart common stock for cash. Chart’s shareholders approved the transaction at a special meeting on October 6, 2025, and the company reports that the transaction is expected to close subject to customary conditions and regulatory approvals.

These events indicate that Chart is in the process of transitioning from a standalone public company to becoming an indirect wholly owned subsidiary of Baker Hughes, although the merger had not yet closed as of the most recent filings.

Trading status and securities

Chart Industries’ common stock is listed on the New York Stock Exchange under the trading symbol GTLS, as reflected in multiple Form 8-K filings. The company also issued Series B Mandatory Convertible Preferred Stock, represented by depositary shares trading under GTLS.PRB. An 8-K dated December 11, 2025 explains that these preferred shares automatically convert into common stock at a specified conversion rate based on a volume-weighted average price calculation.

A Form 25 (25-NSE) dated December 15, 2025 relates to the removal from listing of the depositary shares representing interests in the Series B Mandatory Convertible Preferred Stock on the NYSE. This filing concerns the preferred depositary shares and does not state that GTLS common stock has been delisted.

Leadership and governance updates

Chart’s filings describe several leadership and governance changes associated with its strategic transactions:

• An 8-K dated November 17, 2025 reports that Jill Evanko, then President and Chief Executive Officer and a director, notified the Board of her decision to resign from those roles effective January 6, 2026, and to serve as a Senior Advisor to Chart during the period leading up to the anticipated completion of the Baker Hughes merger.
• The same filing outlines a Senior Advisor Agreement under which Ms. Evanko will provide consulting services related to the merger and transition, with compensation contingent on consummation of the transaction.
• An 8-K dated December 29, 2025 describes retention bonus agreements for certain executives and changes to employment agreements that adjust severance and benefit terms in connection with a change in control.
• An 8-K dated January 9, 2026 states that the Board appointed Gerry Vinci, previously Chief Human Resources Officer, as President of Chart, effective January 6, 2026.

Financial reporting and performance context

In its quarterly earnings news releases, Chart provides detail on orders, sales, margins and cash flow across its segments. The company highlights:

• Broad-based order growth across LNG, hydrogen, data centers, space exploration, marine, nuclear, power and other end markets.
• Increasing content from full systems and solutions and rising attachment of aftermarket, service and repair to its installed base.
• Use of non-GAAP financial measures such as adjusted operating income, adjusted EBITDA, free cash flow and adjusted earnings per share, with reconciliations provided in its earnings materials.

These disclosures underscore Chart’s emphasis on both equipment and lifecycle services, and its participation in a variety of energy and industrial growth areas.

ESG and sustainability themes

Chart repeatedly states that it is committed to environmental, social and corporate governance (ESG) considerations for its own operations and for its customers. By framing its portfolio around the Nexus of Clean™ – clean power, water, food and industrials – and by focusing on LNG, hydrogen, biogas and CO₂ capture, the company presents its technologies as contributing to lower-emission energy systems and industrial processes.

FAQ

The following frequently asked questions summarize key aspects of Chart Industries, Inc. based solely on the company’s own descriptions and regulatory filings.