Exhibit 99.1 Chart Industries Reports Third Quarter 2024 Financial Results ATLANTA, – November 1, 2024 - Chart Industries, Inc. (NYSE: GTLS) today reported results for the third quarter ended September 30, 2024. Results shown are from continuing operations. When referring to any comparative period, all metrics are pro forma for continuing operations of the combined business of Chart and Howden (pro forma excludes the following businesses that were divested in 2023: Roots, American Fan, Cofimco and Cryo Diff ...

ATLANTA, Nov. 01, 2024 (GLOBE NEWSWIRE) -- Chart Industries, Inc. (NYSE: GTLS) today reported results for the third quarter ended September 30, 2024. Results shown are from continuing operations. When referring to any comparative period, all metrics are pro forma for continuing operations of the combined business of Chart and Howden (pro forma excludes the following businesses that were divested in 2023: Roots, American Fan, Cofimco and Cryo Diffusion). The Howden acquisition closed on March 17, 2023. Third ...

In its upcoming report, Chart Industries (GTLS) is predicted by Wall Street analysts to post quarterly earnings of $2.56 per share, reflecting an increase of 100% compared to the same period last year. Revenues are forecasted to be $1.12 billion, representing a year-over-year increase of 25.3%.Over the last 30 days, there has been an upward revision of 1.3% in the consensus EPS estimate for the quarter, leading to its current level. This signifies the covering analysts' collective reconsideration of their i ...

Chart Industries (GTLS) is expected to deliver a year-over-year increase in earnings on higher revenues when it reports results for the quarter ended September 2024. This widely-known consensus outlook gives a good sense of the company's earnings picture, but how the actual results compare to these estimates is a powerful factor that could impact its near-term stock price. The earnings report, which is expected to be released on November 1, 2024, might help the stock move higher if these key numbers are bet ...

Chart Industries, Inc. (GTLS) recently secured a contract from Exxon Mobil Corporation (XOM) to provide its IPSMR (Integrated Pre-Cooled Single Mixed Refrigerant) liquefaction technology and proprietary equipment. GTLS' advanced liquefaction technology will be used for the Rovuma LNG (liquefied natural gas) project on the Afungi peninsula in Mozambique. The Rovuma LNG Project is operated by Mozambique Rovuma Venture ("MRV"), a joint venture between ExxonMobil, Eni and China National Petroleum Corporation (" ...

Core Insights - ExxonMobil has selected Chart Industries' IPSMR® liquefaction technology for the Rovuma LNG project in Mozambique, aiming to enhance project competitiveness and reduce greenhouse gas emissions [1][2][3] Group 1: Project Overview - The Rovuma LNG Project will produce and liquefy natural gas from the Area 4 block, with a total LNG capacity of 18 million tonnes annually through the construction of 12 modules, each with a capacity of 1.5 million tonnes per annum (MTA) [2] - The project includes associated onshore facilities to support the liquefaction process [2] Group 2: Company Partnerships - Chart Industries will provide its IPSMR® technology and equipment for the Rovuma LNG project, marking a significant partnership with ExxonMobil [3] - Mozambique Rovuma Venture (MRV), a joint venture comprising ExxonMobil, Eni, and CNPC, holds a 70% interest in Area 4, with other participants including ENH, KOGAS, and Galp [3] Group 3: Company Profiles - Chart Industries is a global leader in process technologies and equipment for gas and liquid molecule handling, focusing on clean energy solutions and maintaining a strong commitment to environmental, social, and corporate governance (ESG) [4] - ExxonMobil is one of the largest publicly traded international energy and petrochemical companies, with a diverse portfolio that includes upstream, product solutions, and low carbon solutions [5][6]

ATLANTA, Oct. 04, 2024 (GLOBE NEWSWIRE) -- Chart Industries, Inc. (NYSE: GTLS) ("Chart"), a global leader in energy and industrial gas solutions, has scheduled a conference call for Friday, November 1, 2024 at 8:30 a.m. ET to discuss its third quarter 2024 financial results. Chart plans to issue its third quarter 2024 earnings release prior to market open on November 1st. Participants wishing to join the live Q&A session must dial-in with the following information: PARTICIPANT INFORMATION: Toll-Free – North ...

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Aliaksandr Yarmashchuk/iStock via Getty Images Investment Thesis Chart Industries (NYSE:GTLS), a mid-cap industrial company little known among retail traders, plays a crucial role in key sectors shaping our lives. The company, founded in 1992, manufactures and designs systems for pressurized liquid gases. Its systems, which sell between $5 - $100 million, are used in a wide range of industries. For example, they're used by natural gas processing facilities to liquefy natural gas, by food processing companie ...

Financial Performance - Consolidated sales for the three months ended June 30, 2024, were $1,040.3 million, a 14.5% increase from $908.1 million in the same period of 2023[156]. - Consolidated gross profit margin improved to 33.8% for the three months ended June 30, 2024, compared to 30.9% in the same quarter of 2023[156]. - Operating income for Q2 2024 was $167.8 million, a significant increase of $72.1 million, or 75.3%, compared to $95.7 million in Q2 2023[162]. - Net income attributable to Chart Industries, Inc. from continuing operations for Q2 2024 was $58.8 million, compared to $6.6 million in Q2 2023[171]. - Gross profit for Q2 2024 was $351.6 million, an increase of $71.0 million, or 25.3%, compared to Q2 2023, with a gross profit margin of 33.8%, up 290 basis points from the prior year[164]. - Consolidated sales for the first six months of 2024 increased by $551.4 million, reaching $1,991.0 million, a growth of 38.3% compared to the same period in 2023[178]. - Gross profit for the first six months of 2024 rose by $224.0 million or 52.1%, with a gross profit margin of 32.8%, up from 29.9% in the prior year[178]. - Net income attributable to Chart Industries, Inc. for the first six months of 2024 was $72.3 million, compared to a net loss of $(9.3) million in the same period of 2023[184]. Segment Performance - Consolidated orders totaled $1,164.7 million for the three months ended June 30, 2024, compared to $1,063.1 million in the same period of 2023, driven by the Specialty Products segment[156]. - The company’s Cryo Tank Solutions segment reported a gross profit of $33.4 million for the three months ended June 30, 2024, a 16.0% increase from the previous year[159]. - The Specialty Products segment saw a gross profit increase of 32.5% to $80.8 million for the same period[159]. - Specialty Products segment sales increased by $151.2 million to $514.1 million, a 41.7% increase, driven by the inclusion of the acquired Howden business[197]. - Repair, Service & Leasing segment sales increased by $244.3 million to $661.5 million, a 58.6% increase, primarily due to the Howden Acquisition[202]. - Heat Transfer Systems segment sales increased by $86.8 million to $490.3 million, representing a 21.5% increase year-over-year[194]. - For the first six months of 2024, Cryo Tank Solutions sales increased by $49.0 million to $325.2 million, a 17.7% increase compared to the same period in 2023[188]. Cost and Expenses - Consolidated SG&A expenses decreased by $4.5 million, or 3.2%, in Q2 2024 compared to the same quarter in 2023[164]. - SG&A expenses increased by $44.1 million or 18.9% in the first half of 2024, primarily due to the inclusion of Howden SG&A expenses[179]. - Interest expense, net for Q2 2024 was $84.3 million, a slight increase of $0.4 million compared to $83.9 million in Q2 2023[167]. - The company reported an increase in amortization expense to $47.6 million for Q2 2024, up from $44.2 million in Q2 2023[165]. - Corporate SG&A expenses increased by $7.2 million in Q2 2024 compared to Q2 2023, driven by increased IT spending and integration activities[204]. Environmental and Safety Performance - The company reduced greenhouse gas emissions intensity by 27% in 2023 compared to 2022, achieving its 50% reduction goal by 2030 seven years ahead of schedule[150]. - The total recordable incident rate (TRIR) was 0.42 as of June 30, 2024, marking the lowest in the company's history[149]. - The company produced approximately 65 million tons of LNG in 2023, contributing to the replacement of coal-fired power generation[152]. Backlog and Orders - Total backlog reached a record $4,426.0 million as of June 30, 2024, up from $3,964.9 million a year earlier, and $4,331.1 million as of March 31, 2024[156]. - Specialty Products segment orders for the three months ended June 30, 2024, were $423.7 million, a significant increase from $293.2 million for the same period in 2023[214]. - Heat Transfer Systems segment backlog at June 30, 2024, totaled $1,709.7 million, compared to $1,708.9 million as of June 30, 2023[213]. - Repair, Service & Leasing segment orders for the three months ended June 30, 2024, were $312.4 million, down from $319.7 million for the same period in 2023[215]. Cash Flow and Financing - Cash provided by operating activities decreased to $21.0 million for the six months ended June 30, 2024, down $38.5 million from $59.5 million for the same period in 2023, primarily due to higher interest payments[207]. - Cash, cash equivalents, and restricted cash totaled $250.6 million at June 30, 2024, an increase of $49.5 million from December 31, 2023[206]. - Cash used in investing activities was $95.6 million for the six months ended June 30, 2024, compared to $4,397.8 million for the same period in 2023, which included the Howden Acquisition[207]. - Cash provided by financing activities was $126.9 million for the six months ended June 30, 2024, compared to $1,933.4 million for the same period in 2023[208]. Interest Rate and Currency Risk - The company has a primary interest rate risk exposure from floating rate pricing mechanisms in its senior secured revolving credit facility due April 2029 and term loans due March 2030, with a potential additional annual expense of approximately $2.5 million if interest rates increase by 100 basis points on the revolving credit facility and $16.3 million on the term loans[222][224]. - As of June 30, 2024, the company has $247.5 million in borrowings outstanding under the senior secured revolving credit facility and $1,631.0 million under term loans[222][224]. - During Q2 2024, the U.S. dollar weakened by 4% against the South African Rand and strengthened by 1% against the euro, with no notable movement against other currencies[224]. - A hypothetical 10% strengthening of the U.S. dollar would not materially affect the company's financial statements[224]. - The company has EUR 78.0 million in EUR Revolver Borrowings, with an additional unrealized foreign currency gain of approximately $0.8 million on a pre-tax basis if the U.S. dollar strengthens by 100 basis points against the euro[225]. - The company enters into foreign currency contracts to mitigate foreign currency risk, with a hypothetical 10% weakening of the U.S. dollar not materially affecting outstanding foreign exchange forward contracts[227]. - The company has structured a protective call option to limit foreign exchange losses to approximately $11.4 million on a pre-tax basis[227]. - The company has entered into convertible note hedge transactions related to 4.41 million shares of its common stock, aimed at reducing potential dilution upon future conversion of the 2024 Notes[228]. - The strike price for the warrant transactions related to the 2024 Notes is initially set at $71.775 per share, which may have a dilutive effect if the stock price exceeds this level[229].