Group 1 - The proposed merger agreement between Chart Industries and Baker Hughes involves Baker Hughes acquiring all outstanding shares of Chart Industries for $210 in cash per share [2] - Chart Industries has strong near-term earnings and revenue projections, with at least one equity analyst valuing the company at $250 per share, indicating the proposed buyout price may undervalue the company [2] - Johnson Fistel, PLLP has initiated an investigation into whether the board members of Chart Industries breached their fiduciary duties regarding the proposed sale [1] Group 2 - Johnson Fistel, PLLP is a nationally recognized shareholder rights law firm that represents individual and institutional investors in shareholder derivative and securities class action lawsuits [4] - The firm has been recognized as a top plaintiffs' securities law firm in the United States, having recovered approximately $90,725,000 for clients in cases where it served as lead or co-lead counsel [5]

Core Viewpoint - Chart Industries reported quarterly earnings of $2.59 per share, missing the Zacks Consensus Estimate of $2.62 per share, but showing an increase from $2.18 per share a year ago, indicating a -1.15% earnings surprise [1] - The company posted revenues of $1.08 billion for the quarter, missing the Zacks Consensus Estimate by 3.22%, compared to $1.04 billion in the same quarter last year [2] Financial Performance - Over the last four quarters, Chart Industries has surpassed consensus EPS estimates only once [2] - The company has not been able to beat consensus revenue estimates in the last four quarters [2] - Chart Industries shares have declined approximately 10.1% year-to-date, contrasting with the S&P 500's gain of 8.6% [3] Future Outlook - The company's earnings outlook is crucial for investors, including current consensus earnings expectations for upcoming quarters and any recent changes to these expectations [4] - The current consensus EPS estimate for the next quarter is $3.38 on revenues of $1.2 billion, and for the current fiscal year, it is $11.77 on revenues of $4.62 billion [7] - The estimate revisions trend for Chart Industries was mixed prior to the earnings release, resulting in a Zacks Rank 3 (Hold) for the stock, indicating expected performance in line with the market [6] Industry Context - The Manufacturing - General Industrial industry, to which Chart Industries belongs, is currently in the top 11% of over 250 Zacks industries, suggesting a favorable industry outlook [8] - Empirical research indicates a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can be tracked by investors [5]

Second Quarter 2025 Financial Results Overview [Executive Summary and Key Highlights](index=1&type=section&id=Executive%20Summary%20and%20Key%20Highlights) Chart Industries reported strong second quarter 2025 results, with significant order growth driven by broad-based demand across end markets and an increasing focus on systems, solutions, and aftermarket services Sales also increased, and the company achieved its fifth consecutive quarter of gross margin above 33.0% Adjusted operating income margin was 21.1%, and adjusted diluted EPS grew by 18.8% Free cash flow saw a substantial increase - Orders of **$1.50 billion** grew **28.6%** year-over-year, demonstrating continued strength in end markets, more systems and solutions sales, and increasing aftermarket, service, and repair attachment[3](index=3&type=chunk)[4](index=4&type=chunk)[5](index=5&type=chunk) - July 2025 continued broad-based order momentum, including a five-year framework agreement with a South African utility, additional space exploration orders, and marine bookings The commercial pipeline not yet in backlog reached over **$24 billion**, the highest ever[6](index=6&type=chunk) Second Quarter 2025 Key Financial Highlights (YoY Comparison) | Metric | Q2 2025 | Q2 2024 | Change (%) | | :---------------------------------- | :---------- | :---------- | :--------- | | Orders | $1.50 billion | $1.17 billion | 28.6% | | Sales | $1.08 billion | $1.04 billion | 4.0% | | Gross profit as % of sales | 33.6% | 33.8% | -20 bps | | Adjusted operating income margin | 21.1% | 21.7% | -60 bps | | Adjusted diluted EPS | $2.59 | $2.18 | 18.8% | | Free Cash Flow (FCF) | $124.0 million | $88.0 million | 40.9% | Segment Performance Analysis [Cryo Tank Solutions (CTS)](index=2&type=section&id=Cryo%20Tank%20Solutions%20%28CTS%29) The Cryo Tank Solutions segment experienced a slight decrease in orders and sales year-over-year but showed sequential growth in sales and backlog Adjusted operating income margin significantly improved, reflecting operational and mix enhancements Cryo Tank Solutions (CTS) Q2 2025 Performance (YoY Comparison) | Metric | Q2 2025 | Q2 2024 | Change (%) | | :-------------------------------- | :---------- | :---------- | :--------- | | Orders | $157.0 million | $159.0 million | -1.3% | | Sales | $155.9 million | $165.5 million | -5.8% | | Adjusted Operating Income Margin | 18.2% | 11.2% | +700 bps | - June 2025 was the strongest CTS order month year-to-date, and sales grew **1.8%** sequentially from Q1 2025, marking the second consecutive sequential increase in orders and backlog[11](index=11&type=chunk) [Heat Transfer Systems (HTS)](index=2&type=section&id=Heat%20Transfer%20Systems%20%28HTS%29) The Heat Transfer Systems segment saw modest order growth without Big LNG orders, while sales increased significantly, driven by strong LNG sales and data center backlog conversion Adjusted operating income margin expanded due to productivity and project mix Heat Transfer Systems (HTS) Q2 2025 Performance (YoY Comparison) | Metric | Q2 2025 | Q2 2024 | Change (%) | | :-------------------------------- | :---------- | :---------- | :--------- | | Orders | $271.2 million | $269.6 million | 0.6% | | Sales | $295.3 million | $236.7 million | 24.8% | | Adjusted Operating Income Margin | 25.2% | 20.4% | +480 bps | - LNG sales within HTS grew **37.6%** year-over-year, contributing to the overall sales increase and reflecting continued backlog conversion[7](index=7&type=chunk)[13](index=13&type=chunk) [Specialty Products](index=3&type=section&id=Specialty%20Products) Specialty Products achieved substantial order growth, with sales also increasing across diverse end markets However, the adjusted operating income margin decreased due to a less favorable end-market sales mix Specialty Products Q2 2025 Performance (YoY Comparison) | Metric | Q2 2025 | Q2 2024 | Change (%) | | :-------------------------------- | :---------- | :---------- | :--------- | | Orders | $663.3 million | $423.7 million | 56.5% | | Sales | $292.9 million | $277.6 million | 5.5% | | Adjusted Operating Income Margin | 17.2% | 22.1% | -490 bps | - Meaningful order increases were observed in hydrogen/helium, nuclear, food & beverage, and marine end markets Sales growth was driven by increases in hydrogen/helium, nuclear, carbon capture, mining, space exploration, marine, chemicals, and infrastructure[14](index=14&type=chunk) [Repair, Service and Leasing (RSL)](index=3&type=section&id=Repair%2C%20Service%20and%20Leasing%20%28RSL%29) The RSL segment demonstrated strong order growth across all business lines and regions, with increased long-term service and framework agreements Sales declined year-over-year due to a high-margin emergency service repair project in the prior year, which also impacted the adjusted operating income margin Repair, Service and Leasing (RSL) Q2 2025 Performance (YoY Comparison) | Metric | Q2 2025 | Q2 2024 | Change (%) | | :-------------------------------- | :---------- | :---------- | :--------- | | Orders | $406.1 million | $312.4 million | 30.0% | | Sales | $338.2 million | $360.5 million | -6.2% | | Adjusted Operating Income Margin | 34.2% | 38.8% | -460 bps | - New long-term service and framework agreements increased by **8.1%** compared to December 31, 2024, with expanding dollar scope The second quarter 2025 also saw the highest number of assets connected to Digital Uptime in the company's history, with year-to-date connections growing **10.3%**[15](index=15&type=chunk) Corporate Developments and Outlook [2025 Guidance Withdrawal](index=3&type=section&id=2025%20Guidance%20Withdrawal) Chart Industries has withdrawn its 2025 financial guidance and canceled its previously announced second quarter 2025 earnings call due to the proposed acquisition by Baker Hughes, which was announced concurrently with the earnings release - Chart Industries is withdrawing its 2025 guidance and canceling its Q2 2025 earnings call due to the proposed acquisition by Baker Hughes[16](index=16&type=chunk) Additional Information [Forward-Looking Statements](index=3&type=section&id=Forward-Looking%20Statements) This section outlines the nature of forward-looking statements within the press release, emphasizing that they are based on management's expectations and beliefs but are subject to various uncertainties and factors that could cause actual results to differ materially Key risks include integration of acquisitions, market acceptance of new products, supply chain challenges, geopolitical conflicts, and risks related to the proposed acquisition by Baker Hughes - Forward-looking statements are subject to uncertainties and factors beyond the Company's control, including risks related to integrating acquisitions, market growth, supply chain, geopolitical events, and the completion of the proposed acquisition by Baker Hughes[17](index=17&type=chunk)[18](index=18&type=chunk)[19](index=19&type=chunk) [Use of Non-GAAP Financial Information](index=4&type=section&id=Use%20of%20Non-GAAP%20Financial%20Information) The company utilizes non-GAAP financial measures such as adjusted net income, adjusted operating income, adjusted EPS, and EBITDA/adjusted EBITDA to provide investors with useful period-to-period comparisons and for internal performance evaluation Reconciliations to GAAP measures are provided, though certain forward-looking non-GAAP measures cannot be reconciled due to unpredictability - Non-GAAP financial measures (e.g., adjusted net income, adjusted operating income, adjusted EPS, EBITDA, adjusted EBITDA) are used to facilitate useful period-to-period comparisons and evaluate internal performance[20](index=20&type=chunk)[21](index=21&type=chunk)[22](index=22&type=chunk) [About Chart Industries, Inc.](index=5&type=section&id=About%20Chart%20Industries%2C%20Inc.) Chart Industries, Inc. is a global leader in designing, engineering, and manufacturing process technologies and equipment for gas and liquid molecule handling, focusing on clean power, water, food, and industrials The company offers a broad portfolio across the liquid gas supply chain, including LNG, hydrogen, biogas, and CO2 capture, with a commitment to ESG and a global manufacturing and service presence - Chart Industries is a global leader in process technologies and equipment for gas and liquid molecule handling, serving the Nexus of Clean™ markets (clean power, water, food, industrials)[23](index=23&type=chunk) - The company's portfolio covers the entire liquid gas supply chain, including LNG, hydrogen, biogas, and CO2 capture, supported by 65 global manufacturing locations and over 50 service centers[23](index=23&type=chunk) Unaudited Consolidated Financial Statements [Consolidated Statements of Income](index=6&type=section&id=Consolidated%20Statements%20of%20Income) The consolidated statements of income present the company's financial performance for the three and six months ended June 30, 2025, compared to the same periods in 2024, showing increases in sales, gross profit, operating income, and net income attributable to Chart Industries, Inc. Consolidated Statements of Income (Three Months Ended June 30) | Metric | Q2 2025 (Millions) | Q2 2024 (Millions) | | :------------------------------------------ | :----------------- | :----------------- | | Sales | $1,082.3 | $1,040.3 | | Cost of sales | $718.8 | $688.7 | | Gross profit | $363.5 | $351.6 | | Operating income | $169.5 | $167.8 | | Net income attributable to Chart Industries, Inc. | $76.1 | $58.6 | | Diluted earnings per common share | $1.53 | $1.10 | [Consolidated Statements of Cash Flows](index=8&type=section&id=Consolidated%20Statements%20of%20Cash%20Flows) The consolidated statements of cash flows detail the cash generated and used by operating, investing, and financing activities for the three and six months ended June 30, 2025, showing a significant increase in net cash provided by operating activities year-over-year for the quarter Consolidated Statements of Cash Flows (Three Months Ended June 30) | Activity | Q2 2025 (Millions) | Q2 2024 (Millions) | | :-------------------------------------- | :----------------- | :----------------- | | Net Cash Provided By Operating Activities | $145.9 | $116.1 | | Net Cash Used In Investing Activities | $(23.9) | $(43.8) | | Net Cash (Used In) Provided By Financing Activities | $(83.4) | $(17.0) | [Consolidated Balance Sheets](index=10&type=section&id=Consolidated%20Balance%20Sheets) The consolidated balance sheets provide a snapshot of the company's assets, liabilities, and equity as of June 30, 2025, compared to December 31, 2024, indicating growth in total assets and shareholders' equity Consolidated Balance Sheets (As of Date) | Account | June 30, 2025 (Millions) | December 31, 2024 (Millions) | | :-------------------------------- | :----------------------- | :--------------------------- | | Total Current Assets | $2,786.3 | $2,465.4 | | Total Assets | $9,719.0 | $9,123.9 | | Total Current Liabilities | $1,800.8 | $1,789.8 | | Total Liabilities | $6,205.1 | $6,128.7 | | Total Chart Industries, Inc. Shareholders' Equity | $3,352.2 | $2,828.8 | | Total Equity | $3,513.9 | $2,995.2 | [Operating Segments Financial Data](index=11&type=section&id=Operating%20Segments%20Financial%20Data) This section provides a detailed breakdown of sales, gross profit, and operating income, along with their respective margins, for each of the four operating segments for the three and six months ended June 30, 2025, and 2024 Operating Segments Sales (Three Months Ended June 30) | Segment | Q2 2025 (Millions) | Q2 2024 (Millions) | | :------------------------ | :----------------- | :----------------- | | Cryo Tank Solutions | $155.9 | $165.5 | | Heat Transfer Systems | $295.3 | $236.7 | | Specialty Products | $292.9 | $277.6 | | Repair, Service & Leasing | $338.2 | $360.5 | | Consolidated | $1,082.3 | $1,040.3 | Operating Segments Gross Profit Margin (Three Months Ended June 30) | Segment | Q2 2025 | Q2 2024 | | :------------------------ | :------ | :------ | | Cryo Tank Solutions | 27.5% | 20.2% | | Heat Transfer Systems | 30.2% | 25.7% | | Specialty Products | 27.6% | 29.1% | | Repair, Service & Leasing | 44.6% | 49.0% | | Consolidated | 33.6% | 33.8% | Operating Segments Operating Margin (Three Months Ended June 30) | Segment | Q2 2025 | Q2 2024 | | :------------------------ | :------ | :------ | | Cryo Tank Solutions | 16.5% | 9.7% | | Heat Transfer Systems | 24.7% | 19.1% | | Specialty Products | 14.7% | 19.8% | | Repair, Service & Leasing | 23.3% | 27.2% | | Consolidated | 15.7% | 16.1% | [Orders and Backlog](index=12&type=section&id=Orders%20and%20Backlog) This section presents the orders booked during the second quarter of 2025 and the total backlog as of June 30, 2025, broken down by operating segment, showing significant growth in consolidated orders and backlog year-over-year Orders by Segment (Three Months Ended June 30) | Segment | Q2 2025 (Millions) | Q2 2024 (Millions) | | :------------------------ | :----------------- | :----------------- | | Cryo Tank Solutions | $157.0 | $159.0 | | Heat Transfer Systems | $271.2 | $269.6 | | Specialty Products | $663.3 | $423.7 | | Repair, Service & Leasing | $406.1 | $312.4 | | Consolidated | $1,497.6 | $1,164.7 | Backlog by Segment (As of June 30) | Segment | June 30, 2025 (Millions) | June 30, 2024 (Millions) | | :------------------------ | :----------------------- | :----------------------- | | Cryo Tank Solutions | $317.6 | $358.2 | | Heat Transfer Systems | $2,013.5 | $1,709.7 | | Specialty Products | $2,403.6 | $1,806.4 | | Repair, Service & Leasing | $801.8 | $562.7 | | Consolidated | $5,536.5 | $4,426.0 | Non-GAAP Financial Measures Reconciliations [Free Cash Flow Reconciliation](index=13&type=section&id=Free%20Cash%20Flow%20Reconciliation) This section provides a reconciliation of net cash provided by operating activities from continuing operations to free cash flow, a non-GAAP measure, for the three and six months ended June 30, 2025, and 2024, highlighting a significant increase in free cash flow for the quarter Free Cash Flow (Three Months Ended June 30) | Metric | Q2 2025 (Millions) | Q2 2024 (Millions) | | :------------------------------------------ | :----------------- | :----------------- | | Net cash provided by operating activities from continuing operations | $147.9 | $116.1 | | Capital expenditures | $(23.9) | $(28.1) | | Free cash flow (non-GAAP) | $124.0 | $88.0 | [Adjusted Earnings and EPS Reconciliation](index=14&type=section&id=Adjusted%20Earnings%20and%20EPS%20Reconciliation) This reconciliation details the adjustments made to GAAP income from continuing operations and diluted EPS to arrive at adjusted earnings and adjusted diluted EPS for the second quarter of 2025 and 2024, accounting for items like deal-related costs, step-up amortization, and restructuring expenses Adjusted Earnings and Diluted EPS (Three Months Ended June 30) | Metric | Q2 2025 (Millions) | Q2 2024 (Millions) | | :------------------------------------------ | :----------------- | :----------------- | | Income from continuing operations attributable to Chart (U.S. GAAP) | $69.3 | $52.0 | | Adjusted earnings attributable to Chart Industries, Inc. (non-GAAP) | $117.0 | $98.6 | | Reported income from continuing operations attributable to Chart (U.S. GAAP) Diluted EPS | $1.53 | $1.10 | | Adjusted earnings attributable to Chart Industries, Inc. (non-GAAP) Diluted EPS | $2.59 | $2.18 | [Adjusted Operating Income Reconciliation](index=17&type=section&id=Adjusted%20Operating%20Income%20Reconciliation) This section reconciles reported GAAP operating income to adjusted operating income for each segment and on a consolidated basis for the second quarter of 2025 and 2024, adjusting for restructuring, deal-related costs, step-up amortization, and other non-recurring items Consolidated Adjusted Operating Income and Margin (Three Months Ended June 30) | Metric | Q2 2025 (Millions) | Q2 2024 (Millions) | | :------------------------------------------ | :----------------- | :----------------- | | Operating income (loss) as reported (U.S. GAAP) | $169.5 | $167.8 | | Adjusted operating income (loss) (non GAAP) | $228.1 | $225.7 | | Operating margin | 15.7% | 16.1% | | Adjusted operating margin (non-GAAP) | 21.1% | 21.7% | [EBITDA and Adjusted EBITDA Reconciliation](index=19&type=section&id=EBITDA%20and%20Adjusted%20EBITDA%20Reconciliation) This reconciliation converts net income from continuing operations to EBITDA and adjusted EBITDA for the second quarter of 2025 and 2024, incorporating adjustments for non-recurring costs, share-based compensation, and unrealized losses to provide a clearer view of operational profitability EBITDA and Adjusted EBITDA (Three Months Ended June 30) | Metric | Q2 2025 (Millions) | Q2 2024 (Millions) | | :------------------------------------------ | :----------------- | :----------------- | | Net income from continuing operations | $79.9 | $63.1 | | EBITDA (non-GAAP) | $245.1 | $229.6 | | Adjusted EBITDA (non-GAAP) | $267.3 | $257.3 |

Group 1: Baker Hughes and Chart Industries Acquisition - Baker Hughes is nearing a $13.6 billion cash deal to acquire Chart Industries, valuing Chart at $210 per share, which represents a 22% premium over its Monday closing price [3] - This acquisition would replace an earlier agreement between Chart Industries and Flowserve, which had announced an all-stock merger valued at approximately $19 billion including debt [3] - The acquisition is expected to enhance Baker Hughes' presence in liquefied natural gas, nuclear energy, and data centers, thereby strengthening its industrial and energy technology division [4] Group 2: Cadence Design Systems - Cadence Design Systems has agreed to plead guilty to violating export laws and will pay over $140 million to the U.S. government for illegally selling semiconductor design technology to a Chinese military-associated entity [4][5] - The illegal sales occurred between 2015 and 2021, involving a front company linked to China's National University of Defense Technology, which was previously blacklisted by the U.S. Department of Commerce [5] Group 3: Warner Bros. Discovery - Warner Bros. Discovery has announced new names for its businesses, with the streaming and studios segment to be called "Warner Bros." and the networks segment to be named "Discovery Global" [6] - David Zaslav will serve as president and CEO of Warner Bros., while a chief financial officer for the business is yet to be appointed [7] - The networks business will encompass various entertainment, sports, and news television brands globally, including CNN and TNT Sports [7]

Baker Hughes agreed to acquire Chart in a cash deal with an enterprise value of $13.6 billion, cementing its status as a top equipment supplier to gas export plants in the US https://t.co/UIo2igBexb ...

Core Insights - Chart Industries, Inc. reported strong order growth of $1.50 billion in Q2 2025, a 28.6% increase year-over-year, despite the absence of significant LNG orders [4][9] - The company achieved sales of $1.08 billion, reflecting a 4.0% increase compared to Q2 2024, with notable growth in space exploration and hydrogen sales [6][9] - Adjusted operating income margin stood at 21.1%, with gross margin as a percentage of sales above 33.0% for the fifth consecutive quarter [3][8] Orders and Sales Performance - Orders in Q2 2025 were broad-based, with significant contributions from hydrogen, LNG, space exploration, and marine sectors [4][5] - The Repair, Service and Leasing (RSL) segment saw record service orders, driven by increased demand for process technologies [4][5] - The commercial pipeline not yet in backlog exceeded $24 billion, marking the highest level in the company's history [5] Financial Metrics - Gross profit margin for Q2 2025 was 33.6%, a slight decrease of 20 basis points from the previous year [7][9] - Reported operating income was $169.5 million, with an adjusted figure of $228.1 million, reflecting a 21.1% adjusted operating margin [8][9] - EBITDA for Q2 2025 was $245.1 million, or 22.6% of sales, with an adjusted EBITDA of $267.3 million [8][9] Segment Performance - Cryo Tank Solutions (CTS) orders decreased by 1.3% to $157.0 million, while sales declined by 5.8% year-over-year [11] - Heat Transfer Systems (HTS) orders increased by 0.6% to $271.2 million, with sales rising by 24.8% [12] - Specialty Products saw a significant order increase of 56.5% to $663.3 million, with sales up by 5.5% [13] - RSL orders grew by 30% to $406.1 million, although sales declined by 6.2% due to a prior emergency service project [14] Cash Flow and Leverage - Free cash flow for Q2 2025 was $124.0 million, a 40.9% increase compared to the same period last year [10][9] - The net leverage ratio as of June 30, 2025, was 2.85 [10] 2025 Outlook - The company has withdrawn its 2025 guidance due to the proposed acquisition by Baker Hughes [15]

Core Viewpoint - Chart Industries, Inc. has terminated its merger agreement with Flowserve Corporation and has entered into a definitive agreement with Baker Hughes Company, which was deemed a "Superior Chart Proposal" by the Chart Board of Directors [1][2]. Company Overview - Chart Industries, Inc. is a global leader in energy and industrial gas solutions, specializing in the design, engineering, and manufacturing of process technologies and equipment for gas and liquid molecule handling [3]. - The company operates across various sectors, including liquefied natural gas, hydrogen, biogas, and CO2 capture, with a commitment to environmental, social, and corporate governance [3]. - Chart has 64 global manufacturing locations and over 50 service centers worldwide, ensuring accountability and transparency to stakeholders [3]. Transaction Details - The acquisition proposal from Baker Hughes was determined to be superior to the previously announced merger with Flowserve, leading to the termination of that agreement [2]. - Wells Fargo is acting as the financial advisor, while Winston & Strawn LLP is serving as the legal advisor for Chart in this transaction [2].

Core Viewpoint - Baker Hughes has announced a definitive agreement to acquire Chart Industries for $210 per share, totaling an enterprise value of $13.6 billion, marking a significant strategic move in the energy and industrial technology sector [1][9]. Company Overview - Chart Industries is a global leader in designing, engineering, and manufacturing process technologies for gas and liquid molecule handling, generating $4.2 billion in revenue and $1.0 billion in adjusted EBITDA in 2024 [2]. - The company operates 65 manufacturing locations and over 50 service centers worldwide, providing a comprehensive portfolio that spans the entire liquid gas supply chain [2]. Strategic Rationale - The acquisition is seen as a milestone for Baker Hughes, enhancing its position as a leading energy and industrial technology company, with complementary products and services that align with the growing demand for lower-carbon energy solutions [3][7]. - The combination is expected to deepen Baker Hughes' exposure to high-growth markets such as LNG, data centers, and New Energy, significantly increasing its addressable market [7][8]. Financial Impact - The transaction is projected to deliver strong earnings accretion and returns, with an expected $325 million in annualized cost synergies by the end of the third year [6][14]. - Baker Hughes anticipates immediate accretion to growth, margins, and cash flow, with double-digit EPS accretion in the first full year post-transaction [14]. Transaction Details - Chart shareholders will receive $210 per share in cash, representing a purchase price that equates to approximately 9 times Chart's consensus 2025 EBITDA on a fully synergized basis [9]. - Baker Hughes has secured bridge debt financing to fund the transaction, with plans to maintain its A credit rating and reduce net leverage from 2.25x at close to a target of 1.0-1.5x within 24 months [10]. Approval Process - The Boards of Directors of both companies have unanimously approved the transaction, which is subject to customary conditions, including shareholder approval from Chart and regulatory approvals [11].

Core Viewpoint - Chart Industries (GTLS) is expected to report quarterly earnings of $2.62 per share, reflecting a 20.2% increase year-over-year, with revenues projected at $1.12 billion, a 7.5% increase from the previous year [1]. Earnings Projections - The consensus EPS estimate has been revised downward by 0.1% in the last 30 days, indicating a reassessment by analysts [2]. - Changes in earnings projections are crucial for predicting investor reactions, as empirical studies show a strong correlation between earnings estimate trends and short-term stock price movements [3]. Sales Estimates - Analysts estimate 'Sales- Cryo Tank Solutions' at $162.74 million, a decrease of 1.7% from the prior year [5]. - 'Sales- Repair, Service & Leasing' is projected to reach $340.69 million, down 5.5% year-over-year [5]. - 'Sales- Specialty Products' is expected to be $331.27 million, reflecting a 19.3% increase from the previous year [5]. - The consensus for 'Sales- Heat Transfer Systems' stands at $277.49 million, indicating a 17.2% increase year-over-year [6]. Backlog Estimates - 'Backlog - Cryo Tank Solutions' is expected to be $301.82 million, down from $358.20 million in the same quarter last year [6]. - 'Backlog - Heat Transfer Systems' is projected at $2.07 billion, up from $1.71 billion year-over-year [7]. - 'Backlog - Specialty Products' is anticipated to reach $2.16 billion, compared to $1.81 billion last year [7]. - 'Backlog - Repair, Service & Leasing' is estimated at $709.92 million, up from $562.70 million year-over-year [8]. - Total backlog is expected to be $5.24 billion, an increase from $4.43 billion last year [8]. Orders Estimates - 'Orders - Heat Transfer Systems' is forecasted at $294.70 million, compared to $269.60 million last year [8]. - 'Orders - Specialty Products' is expected to reach $440.99 million, up from $423.70 million year-over-year [9]. - 'Orders - Repair, Service & Leasing' is projected at $324.15 million, an increase from $312.40 million last year [9]. Stock Performance - Shares of Chart Industries have returned +2.4% over the past month, compared to the Zacks S&P 500 composite's +4.9% change, with a Zacks Rank 3 (Hold) indicating expected performance in line with the overall market [9].

Core Insights - LNG Alliance has selected Chart Industries' IPSMR® technology for its Amigo LNG export facility in Guaymas, Sonora, Mexico, with a capacity of 7.8 MTPA [1][4] - The IPSMR® process technology is recognized for its efficiency and performance in liquefaction, allowing for tailored systems that optimize operational efficiency and reduce costs [2][3] - The partnership aims to deliver a modular mid-scale solution that enhances efficiency, reduces footprint, and lowers costs for LNG operations [4] Company Overview - Chart Industries is a global leader in designing and manufacturing process technologies for gas and liquid molecule handling, with a focus on clean energy solutions [5] - The company operates 64 manufacturing locations and over 50 service centers worldwide, emphasizing accountability and transparency [5] - LNG Alliance, established in 2013, focuses on LNG export and import terminal infrastructure, leveraging partnerships to provide reliable energy solutions [6]