Chart(US:GTLS)2023-02-24 15:09Financial 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]