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Chart(GTLS) - 2023 Q4 - Earnings Call Presentation
2024-02-28 17:03
© 2024 Chart Industries, Inc. Confidential and Proprietary 29 Q4 and Full Year 2023 Results CERTAIN STATEMENTS MADE IN THIS INVESTOR PRESENTATION ARE FORWARD-LOOKING STATEMENTS WITHIN THE MEANING OF THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995. FORWARD-LOOKING STATEMENTS INCLUDE STATEMENTS CONCERNING CHART'S BUSINESS PLANS, INCLUDING STATEMENTS REGARDING OBJECTIVES, FUTURE ORDERS, REVENUES, MARGINS, EARNINGS, PERFORMANCE OR OUTLOOK, BUSINESS OR INDUSTRY TRENDS AND OTHER INFORMATION THAT IS NOT HISTO ...
Chart(GTLS) - 2023 Q4 - Annual Results
2024-02-28 13:13
Exhibit 99.1 Chart Industries Reports 2023 Fourth Quarter and Full Year Financial Results ATLANTA, February 28, 2024 -- Chart Industries, Inc. (NYSE: GTLS) ("Chart") today reported results for the fourth quarter and full year ended December 31, 2023. Results shown are from continuing operations. When referring to the fourth quarter 2022, full year 2022 or any quarter of 2023 comparative period, all metrics are pro forma for continuing operations of the combined business of Chart and Howden; this includes Ho ...
Chart(GTLS) - 2023 Q3 - Quarterly Report
2023-10-27 21:01
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 For the quarterly period ended September 30, 2023 FORM 10-Q or (Mark One) ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 1-11442 CHART INDUSTRIES, INC. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorpora ...
Chart(GTLS) - 2023 Q3 - Earnings Call Transcript
2023-10-27 17:11
Chart Industries, Inc. (NYSE:GTLS) Q3 2023 Earnings Conference Call October 27, 2023 8:30 AM ET Company Participants Jill Evanko – President and Chief Executive Officer Joe Brinkman – Chief Financial Officer Conference Call Participants Ben Nolan – Stifel Martin Malloy – Johnson Rice Eric Stine – Craig-Hallum Marc Bianchi – TD Cowen Pavel Molchanov – Raymond James Craig Shere – Tuohy Brothers Ati Modak – Goldman Sachs Rob Brown – Lake Street Capital Sherif Elmaghrabi – BTIG Operator Good morning and welcome ...
Chart(GTLS) - 2023 Q3 - Earnings Call Presentation
2023-10-27 14:37
米 • Q3 2023 notable hydrogen-related orders around the world • Awarded H2 and He liquefiers (synergy wins) • Received a H2 compressor order ($16M+) from a Korean customer • Orders from various geographies, including China, USA, Canada, Korea including our first order for LH2 tank in South Korea market • Q3 2023 significant hydrogen achievements with our customers • Hyzon Motor Company and Performance Food Group (PFG) completed deliveries to 8 PFG customers using our liquid hydrogen onboard tank (traveled 54 ...
Chart(GTLS) - 2023 Q2 - Quarterly Report
2023-07-28 21:04
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 1-11442 CHART INDUSTRIES, INC. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation ...
Chart(GTLS) - 2023 Q2 - Earnings Call Presentation
2023-07-28 18:18
Financial Performance - Q2 2023 book-to-bill ratio was 1.17[16] - Q2 2023 ending record backlog reached $3.96 billion, a 24.1% increase compared to proforma Q2 2022[16] - Record reported gross profit margin of 30.9% and record adjusted gross profit margin of 32.5% were achieved in Q2 2023[16] - Adjusted EBITDA reached a record of $195.3 million with a record adjusted EBITDA margin of 21.5% in Q2 2023[16] - Free cash flow was $76.2 million, with an adjusted free cash flow of $86.6 million, resulting in a net leverage of 3.86X (3.72X proforma for divestitures)[16] Synergy and Divestitures - $96.5 million of annualized cost savings were achieved through July 27, 2023, compared to $50.9 million at Q1 2023[16] - Commercial synergies reached $94.3 million through July 27, 2023, compared to $11.4 million at Q1 2023[16] - The commercial synergies pipeline increased to approximately $1 billion from approximately $800 million[16] - A definitive agreement was signed to sell the Roots™ business to Ingersoll Rand for $300 million in cash, with regulatory clearance received and closing expected no later than August 18, 2023[12, 16] - A definitive agreement was signed to sell Cofimco for $80 million, with closing expected in the second half of 2023[16] Outlook and Strategy - The company is updating its 2023 outlook and reiterating its 2024 adjusted EBITDA target of approximately $1.3 billion[16] - The company expects to reach a net leverage ratio of 2.5-2.9X by midyear 2024, ahead of the previous target of year-end 2024[16] - The company anticipates total proceeds of approximately $500 million from anticipated defined asset perimeter of divestitures[16]
Chart(GTLS) - 2023 Q2 - Earnings Call Transcript
2023-07-28 18:17
Financial Data and Key Metrics Changes - The company reported a record gross profit margin of 30.9% and an adjusted gross margin of 32.5% for Q2 2023, with adjusted EBITDA reaching $195.3 million and an adjusted EBITDA margin of 21.5% [5][45][48] - Free cash flow for the second quarter was $76.2 million, contributing to a net leverage ratio of 3.86x, which is expected to improve to the high 2x range earlier than anticipated [5][33][48] - The company achieved approximately 55% of its year-one cost synergy target and 63% of its year-one commercial synergy target since the acquisition of Howden [48] Business Line Data and Key Metrics Changes - The aftermarket service and repair segment accounted for over 30% of revenues, with a record second quarter performance and a 32.9% increase in orders compared to Q2 2022 [43][48] - Howden's standalone performance showed record sales and growth, significantly contributing to the overall business performance [5][43] Market Data and Key Metrics Changes - The company reported a 10.3% increase in sales for Q2 2023 compared to the same period in 2022, with sales reaching $908.1 million [46] - The Middle East and Africa region saw a 92% increase in bookings and a 52% increase in EBITDA compared to Q2 2022 [46] Company Strategy and Development Direction - The company is focused on expanding its partnerships and commercial agreements, with a goal of at least 70% of new partners placing orders by year-end [6] - The strategic direction includes leveraging Howden's expertise in hydrogen and expanding into decarbonization markets, with a significant increase in orders from new customers [6][66] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the U.S. market's potential for hydrogen, citing significant opportunities from the Department of Energy's hydrogen hubs and the Inflation Reduction Act [12][20] - The company anticipates continued growth in the second half of 2023, driven by project ramp-ups and increasing commercial synergy opportunities [78] Other Important Information - The company is executing divestitures to optimize asset sales, with anticipated total divestitures of approximately $500 million [3] - The company has received significant orders related to carbon capture and hydrogen projects, indicating strong demand in these sectors [49][66] Q&A Session Summary Question: What is the outlook for hydrogen in the U.S. market? - Management noted that the U.S. has accelerated its position as a hydrogen leader, with significant opportunities expected from the DOE hydrogen hubs and related activities [12][20] Question: Can you elaborate on the $20 billion order pipeline? - Management indicated that the $20 billion pipeline reflects potential activity over the next 24 months, with a higher win rate expected due to the integration with Howden [26][28] Question: What is the expected book-to-bill ratio for 2024? - A book-to-bill ratio of one or above is desired in the second half to ensure a strong backlog heading into 2024 [68] Question: How does the company plan to achieve its EBITDA guidance? - Management reiterated confidence in achieving the $1.3 billion EBITDA target for 2024, supported by strong order visibility and ongoing cost synergies [55][58] Question: What are the expectations for margin expansion? - Management expects to maintain gross margins above 30%, with continued improvements anticipated from cost synergies and operational efficiencies [81][82]
Chart(GTLS) - 2023 Q1 - Quarterly Report
2023-05-09 20:06
(Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q Commission File Number: 1-11442 CHART INDUSTRIES, INC. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation ...
Chart(GTLS) - 2023 Q1 - Earnings Call Transcript
2023-04-28 17:57
Chart Industries, Inc. (NYSE:GTLS) Q1 2023 Earnings Conference Call April 28, 2023 8:30 AM ET Company Participants Jillian C. Evanko - President and CEO Joseph Brinkman - CFO Conference Call Participants Benjamin Nolan - Stifel, Nicolaus Eric Stine - Craig-Hallum Martin Malloy - Johnson Rice Pavel Molchanov - Raymond James Sam Burwell - Jefferies Robert Brown - Lake Street Capital Markets Marc Bianchi - TD Cowen Walter Liptak - Seaport Research Partners Craig Shere - Tuohy Brothers Barry Haimes - Sage Asset ...