Chart Industries, Inc. ( (GTLS) ) has released its Q3 earnings. Here is a breakdown of the information Chart Industries, Inc. presented to its investors.
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Chart Industries, Inc. is a leading global manufacturer of technologies and equipment for gas and liquid molecule handling, primarily focused on the clean energy sector. The company’s extensive portfolio includes solutions for liquefied natural gas, hydrogen, and carbon capture among other applications, with a commitment to environmental, social, and corporate governance excellence.
In its third quarter of 2024 financial results, Chart Industries reported significant growth in sales and profitability, highlighting a 22.4% increase in sales to $1.06 billion and a reported EBITDA rise of 53.9% year-over-year. The company’s strategic initiatives, including the integration of Howden, have contributed to these strong results despite some foreign exchange and tax rate challenges.
Key financial metrics for the quarter included an adjusted operating margin increase to 22.2% and free cash flow of $174.6 million. Orders grew by 5.4% to $1.17 billion, driven by demand in LNG and hydrogen sectors. The successful execution of cost synergies from the Howden acquisition has already surpassed expectations, bolstering margins across all segments.
Chart Industries is optimistic about its future, with a 2024 sales outlook of up to $4.30 billion and adjusted EBITDA expected to reach $1.045 billion. The company is poised for continued growth in the clean energy market as it advances its technology and project partnerships globally, anticipating higher sales and profitability in 2025.
