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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 ...
Chart(GTLS) - 2023 Q1 - Earnings Call Presentation
2023-04-28 13:55
Q1 2023 Financial Performance - Record total backlog was achieved in Q1 2023[6] - Q1 2023 sales reached $537.9 million, a 51.9% increase compared to Q1 2022's $354.1 million[18] - Reported EBITDA for Q1 2023 was $67.4 million, an 83.2% increase from Q1 2022's $36.8 million[18] - Adjusted EBITDA for Q1 2023 was $102.2 million, an 85.8% increase from Q1 2022's $55.0 million[18] - Adjusted gross margin increased by 250 bps to 28.6% in Q1 2023 from 26.1% in Q1 2022[30] Synergies from Howden Acquisition - Approximately $50.9 million of annualized cost synergies have been achieved since the Howden acquisition on March 17, 2023[103] - Over $11 million in commercial synergy orders have been secured in the first six weeks since the Howden acquisition[103] - The company is targeting $150 million in commercial synergies and $175 million in cost synergies in year 1[99, 100] Market Trends and Opportunities - Big LNG market activity is increasing, with FID reached on Sempra Port Arthur[3] - The global small-scale LNG (ssLNG) and Floating LNG (FLNG) market is growing, particularly in APAC and Africa[3] - There is regional and global interest in hydrogen solutions, with commercial builds across the value chain[3] - The UK announced a £20 billion ($25 billion) investment program for carbon capture projects[8]
Chart Industries (GTLS) Presents at the Bank of America Industrials Conference - Slideshow
2023-03-24 16:00
Chart Industries, Inc. Forward-Looking Statements 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 historical in nature. Forward-looking statement ...
Chart(GTLS) - 2022 Q4 - Earnings Call Transcript
2023-02-24 18:57
Financial Data and Key Metrics Changes - The company reported a record backlog of $2.3 billion at the end of 2022, with approximately 60% of the full year 2023 sales outlook already in backlog, which is higher than in prior years [49][65] - Full-year 2022 sales growth was 22.4%, with a reported non-diluted EPS of $2.21, marking a historical record [69][100] - Adjusted EBITDA for Q4 2022 was $97.5 million, or 22.1% of sales, reflecting operational improvements [119] Business Line Data and Key Metrics Changes - The Repair, Service, and Leasing segment had the largest order month in December 2022, supporting strong sales and margin for the first half of 2023 [82] - In the hydrogen sector, broader geographic penetration was noted, particularly in Korea, China, and Canada, with additional subsegments like utility power generation gaining traction [55] - The company experienced a decline of 85% in over-the-road vehicle tank orders year-over-year, but excluding this, total orders were up 37% [115] Market Data and Key Metrics Changes - The company noted strong demand in carbon capture and storage, driven by various customer expansions, including breweries and wineries [56] - The North American market, including Canada, has been active in hydrogen-related orders, with a significant commercial pipeline expected to accelerate in 2023 [27][26] - The company anticipates additional Big LNG orders in 2023, although none were included in the current outlook [122] Company Strategy and Development Direction - The company reiterated its commitment to reducing carbon intensity by 30% by 2030 and achieving carbon neutrality by 2050, which aligns with its ongoing ESG efforts [5] - The acquisition of Howden is expected to enhance the company's full solution offering, providing access to high-growth specialty end markets driven by sustainability [19][90] - The company is focused on leveraging government funding programs to incentivize partnerships in hydrogen production, transportation, and export projects [85] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the 2023 sales outlook of $2.1 billion to $2.2 billion, supported by strong visibility and backlog [77] - The company is optimistic about the potential for cost synergies from the Howden acquisition, with a strong opportunity pipeline identified [109][127] - Input costs are expected to remain stable, with improved availability from the supply chain, which is a positive indicator for operational performance [63][92] Other Important Information - The company is pursuing divestitures of two product lines related to the combined business, targeting completion within the next three to six months [91] - The company has signed 465 new leases in 2022, indicating strong demand for its leasing services [107] - The company announced a definitive agreement to acquire Howden, with an anticipated closing date in the first half of 2023 [89] Q&A Session Summary Question: 2023 order outlook and potential fluctuations - Management acknowledged that 2022 was an exceptional year for orders, with expectations to maintain a strong order book in 2023, particularly in small to mid-scale projects [8][11] Question: Confidence in winning market share for large LNG projects - Management expressed optimism about winning new large LNG projects, citing existing customer signals for expansions and new builds [16][33] Question: Reception of the Howden acquisition - Management reported positive reception from existing customers regarding the Howden acquisition, highlighting the unique combination of stationary and rotating equipment [138][140]
Chart(GTLS) - 2022 Q4 - Annual Report
2023-02-24 16:55
UNITED STATES SECURITIES AND EXCHANGE COMMISSION State or other jurisdiction of incorporation or organization Washington, D.C. 20549 Form 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2022 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 No. 1-11442 CHART INDUSTRIES, INC. (Exact name of registrant as specified in its charter) Dela ...
Chart(GTLS) - 2022 Q4 - Earnings Call Presentation
2023-02-24 15:09
Financial Performance & Outlook - Full Year 2023 initial revenue outlook range is projected to be between $2.10 billion and $2.20 billion[16] - Adjusted EBITDA for full year 2023 is expected to be in the range of $440 million to $480 million[17] - Adjusted Free Cash Flow for full year 2023 is projected to be between $250 million and $300 million[17] - Capital Expenditures for full year 2023 are estimated to be around $60 million to $65 million[17] - Pro forma combined Chart and Howden 2023 full year revenue is approximately $4.25 billion[30] - Pro forma Chart and Howden combined 2023 full year adjusted EBITDA is approximately $1 billion, inclusive of year-one cost synergies of $175 million[51] Orders & Backlog - As of December 31, 2022, the company had a record backlog of $2,338.1 million, with approximately 60% of the full year 2023 sales outlook already in backlog[18] - $285 million of orders were booked in January 2023[26] - The company's current commercial pipeline for the next 12 months totals over $11.5 billion[37] Synergies & Cost Reduction - The first month of Howden ownership is expected to have $20 million of annualized synergy cost out[30] - The first six months of Howden ownership are projected to have $75 million of annualized synergy cost out[30] - The company is targeting ~$175 million in cost synergies within 12 months post-close of the Howden acquisition[205] Market & Growth Drivers - Heat Transfer Systems are projected to have an organic growth rate of 50%+[36] - Specialty Products are projected to have an organic growth rate of 35% to 40%[36] - Repair, Service, & Leasing are projected to have an organic growth rate of 8% to 10%[36]
Chart(GTLS) - 2022 Q3 - Quarterly Report
2022-10-28 17:39
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 September 30, 2022 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 incorpora ...
Chart(GTLS) - 2022 Q3 - Earnings Call Transcript
2022-10-28 17:13
Chart Industries, Inc.'s (NYSE:GTLS) Q3 2022 Results Conference Call October 28, 2022 5:30 AM ET Company Participants Jillian Evanko - President and Chief Executive Officer Joe Brinkman - Vice President and Chief Financial Officer Conference Call Participants Eric Stine - Craig-Hallum Capital Group Ben Nolan - Stifel John Walsh - Credit Suisse Rob Brown - Lake Street Sam Burwell - Jefferies Martin Malloy - Johnson Rice Marc Bianchi - Cowen Walter Liptak - Seaport Research Craig Shere - Tuohy Brothers Operat ...
Chart(GTLS) - 2022 Q3 - Earnings Call Presentation
2022-10-28 12:47
N Y S E : G T L S 1 Cooler By Design. 。 Third Quarter 2022 Earnings Call Presented by Jill Evanko CEO Joe Brinkman CFO Forward-Looking Statements CERTAIN STATEMENTS MADE IN THIS PRESENTATION ARE FORW ARD -LOOKING STATEMENTS W ITHIN THE MEANING OF THE PRIVATE SECURITIES LITIGAT ION REFORM ACT OF 1995. FORW ARD-LOOKING STATEMENTS INCLUDE STATEMEN TS CONCERNING THE COMPANY'S BUSINESS PLANS, INCLUDING STATEMENTS REGARDING COMPLETED DIVESTITURES, ACQUISITIONS AND INVESTMENTS, COST SYNERGIES AND EFFICIENCY SAVING ...