July 24, 2018 - 7:05 AM EDT
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Free Research Report as Chart Industries' Sales Surged 34%; Adjusted EPS Soared 161.9%

LONDON, UK / ACCESSWIRE / July 24, 2018 / If you want access to our free earnings report on Chart Industries, Inc. (NASDAQ: GTLS), all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=GTLS. The Company reported its second quarter fiscal 2018 operating and financial results on July 18, 2018. The equipment maker for the energy sector outperformed top- and bottom-line expectations. Additionally, the Company raised its revenue and adjusted earnings guidance. Register today and get access to over 1,000 Free Research Reports by joining our site below:

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Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Chart Industries most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:

www.active-investors.com/registration-sg/?symbol=GTLS

Earnings Highlights and Summary

For the second quarter of the fiscal year 2018, Chart Industries' sales increased 34% to $319.9 million compared to $238.2 million in Q2 2017; primarily by Energy & Chemicals (E&C) growth in demand for equipment for both natural gas processing and industrial gas applications; Distribution & Storage (D&S) packaged gas volume; LNG vehicle tanks and increases in parts, repair, and aftermarket; as well as the release of the new portable oxygen concentrator in the Company's BioMedical segment. Chart Industries' revenue numbers beat analysts' estimates of $302.6 million.

During Q2 2018, Chart Industries' gross profit was $84.5 million compared to $63.2 million in Q2 2017. The Company's selling, general, and administrative expenses (SG&A) were $55.3 million in the reported quarter; inclusive of $0.8 million of transaction-related costs; $0.6 million of restructuring costs; and net costs of $1.4 million related to the departure of the previous Chief Executive Officer (CEO). The Company's SG&A were $50.2 million in Q2 2017.

Chart Industries' net income was $12.3 million, or $0.38 per diluted share, in Q2 2018 compared to $2.8 million, or $0.09 per diluted share, in Q2 2017.

Chart Industries' earnings would have been $0.55 per diluted share in Q2 2018, excluding $1.4 million of transaction-related and restructuring costs; $3.75 million of costs associated with the cryobiological aluminum tank recall; and $1.4 million of net severance costs associated with the departure of the former CEO. The Company's earnings would have been $0.21 per diluted share in Q2 2017, excluding $5.0 million of restructuring and $1.0 million of transaction-related costs. Chart Industries' earnings surpassed Wall Street's estimates of $0.45 per share.

Order Update

Chart Industries reported orders of $360.3 million in Q2 2018, reflecting a 12% sequential increase and the Company's sixth consecutive quarter of sequential growth. The Company's results for the reported quarter included orders of a $28 million order in the E&C segment for its Hudson Products air cooled heat exchangers on a large LNG project, as well as a $13 million order for equipment for a natural gas liquids fractionation project.

Segment Results

During Q2 2018, Chart Industries' E&C segment’s orders were $122.5 million, inclusive of $92.2 million from Hudson Products, reflecting an increase of 30.7% on a y-o-y basis. This was the fifth quarter in a row with E&C order levels above $60 million. The segment's sales were up organically by 33.0% to $100.8 million on a y-o-y basis in the reported quarter. E&C's gross margin was $21.3 million, or 21.1% of sales, in Q2 2018; reflecting an increase of $5.4 million, or 13.3% as a percentage of sales, in Q2 2017. The improvement was driven by the addition of Hudson, as well as the increased demand for natural gas and industrial gas equipment.

For Q2 2018, Chart Industries' D&S segment's orders were $174.0 million, and were the highest since Q3 2013, and the sixth consecutive quarter of sequential order growth, which was the longest sustained order trend since 2002 for the segment. The D&S segment's sales increased $19.8 million to $157.4 million compared to Q2 2017, driven by a strength in United States packaged gas and European standard tanks and trailers. The segment's gross margin as a percentage of sales increased to 28.3% from 25.7% in the prior year's same quarter, reflecting a strong volume; an improved cost structure; and an increased activity in Europe, in particular LNG trailer strength.

Outlook

For the full fiscal year 2018, Chart Industries is forecasting sales to be in the range of $1.20 billion to $1.25 billion compared to its prior sales guidance of $1.15 billion to $1.20 billion. The Company is expecting adjusted earnings per share to be in the band of $1.85 to $2.05 for FY18 versus its earlier guidance of $1.75 to $2.00. Chart Industries is expecting capital expenditure to be in the range of $35 million to $45 million for FY18.

Stock Performance Snapshot

July 23, 2018 - At Monday's closing bell, Chart Industries' stock dropped 2.15%, ending the trading session at $75.23.

Volume traded for the day: 503.12 thousand shares, which was above the 3-month average volume of 369.61 thousand shares.

Stock performance in the last month - up 21.50%; previous three-month period - up 27.21%; past twelve-month period - up 115.99%; and year-to-date - up 60.54%

After yesterday's close, Chart Industries' market cap was at $2.33 billion.

Price to Earnings (P/E) ratio was at 165.70.

The stock is part of the Industrial Goods sector, categorized under the Metal Fabrication industry.

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Source: ACCESSWIRE Investor Awareness (July 24, 2018 - 7:05 AM EDT)

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