ATLANTA, Jan. 26, 2024 (GLOBE NEWSWIRE) — Chart Industries, Inc. (NYSE: GTLS) (“Chart”), the world's leading solutions provider to the clean energy and industrial gas markets, will We have reiterated our medium-term financial goals. , originally announced at his November 28, 2023 Investor Day, which included:
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Mid-Teen Organic Earnings Growth to 2026
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Gross profit margin in 2026 is reported to be in the mid-30s
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Adjusted diluted EPS growth at double-digit CAGR in the mid-40%
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95-100% free cash flow conversion
“In light of recent news regarding the current suspension of U.S. LNG export project approvals and timing, we reiterate our medium-term financial goals,” said Jill Evancho, CEO and President of Chart. Ta. “Our medium-term outlook does not include additional large LNG projects that were not in the September 30, 2023 backlog, nor any awards related to the Department of Energy’s $7 billion hydrogen hub investment. In addition, the addition of Howden to our portfolio in the first quarter of 2023 will further diversify our end market and full solution offering, add geographic diversity and expand our aftermarket, service offering. , our repair business now accounts for more than 30% of our annual revenue.”
Additionally, in the third quarter of 2023, our IPSMR® liquefaction technology was selected for a major international big LNG project with orders expected to be booked in late 2024 or early 2025, with subsequent orders scheduled for December 28, 2023. announced that it has booked a new award for its IPSMR® liquefaction technology for two modular trains on the Multi-Train International Big LNG Project.
Our commercial pipeline of potential BigLNG opportunities is approximately $8.5 billion, balanced between North American and international opportunities.
Teleconference information
As previously announced, the Company has scheduled a conference call on Wednesday, February 28, 2024 at 8:30 a.m. Eastern Time to discuss its fourth quarter 2023 and full year 2023 financial results. Participants wishing to participate in the live Q&A session must dial in by providing the following information:
Participant information:
Toll Free – North America: (+1) 888 259 6580
Calls to North America and other locations: (+1) 416 764 8624
Conference ID: 05384471
The live webcast and replay, as well as the presentation slides, will be available on our Investor Relations website through the following link: Q4 2023 Webcast Registration. A replay of the conference call will be accessible approximately two hours after the call ends by calling 1-877-674-7070 with passcode 384471 until March 29, 2024.
Forward-looking statements
Certain statements contained in this press release are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements regarding our business plans, including statements regarding completed acquisitions, divestitures, investments, costs and investments. Commercial synergies and efficiency savings, targets, future orders, revenue, margins, segment sales mix, profits or operating results, liquidity and cash flow, inventory levels, capital expenditures, supply chain challenges, material costs and pricing. inflationary pressures, including an increase in the economy, business trends, clean energy market opportunities, including target markets, and government initiatives, including executive orders and other information that are not historic in nature. Forward-looking statements include statements such as “may”, “will”, “should”, “could”, “expected”, “anticipated”, “conceivable”, “planned”, etc. may be identified by terms such as “anticipated”, “anticipated” and “outlook”. Disclaimer of “instruction,” “continuation,” “goals,” or any such or similar terms.
The forward-looking statements contained in this press release or other statements made by the Company are made based on management's expectations and beliefs regarding future events affecting the Company and are based on the Company's operations and business environment. subject to relevant uncertainties and factors. Our actual results may differ materially from those expressed or implied by the forward-looking statements because they are difficult to predict and many are beyond our control. Factors that could cause our actual results to differ materially from those described in the forward-looking statements include: the Company's ability to successfully integrate the Howden acquisition and other recent acquisitions and achieve the anticipated revenues, revenues, accretion and other benefits from these acquisitions; our ability to achieve the anticipated proceeds from the sale; slower than expected growth and market acceptance of new clean energy products; failure to achieve anticipated price increases or continued supply chain challenges, including fluctuations in raw materials and supplies; the coronavirus outbreak and the continued uncertainty related to it, regional conflicts and unrest, including the recent turmoil in the Middle East and the conflict between Russia and Ukraine, including potential energy shortages in Europe and elsewhere; Associated risks. You should carefully consider the other factors described in Item 1A (Risk Factors) of our most recent Annual Report on Form 10-K filed with the SEC. We undertake no obligation to update or revise any forward-looking statements.
About Chart Industries
Chart Industries, Inc. designs process technology and equipment for the processing of gas and liquid molecules for the Nexus of Clean™ (whether it's clean power, clean water, clean food, or clean industry); An independent global leader in engineering and manufacturing. of molecules. The company's unique portfolio of products and solutions across fixed and rotating equipment is used at every stage of the liquid gas supply chain, from engineering, service, repair and installation to preventive maintenance and digital monitoring. Chart is a leading provider of technology, equipment and services related to applications such as liquefied natural gas, hydrogen, biogas and CO2 capture. Chart is committed to excellence in environmental, social and corporate governance (ESG) issues, both for itself and its customers. The company has 64 manufacturing locations around the world and more than 50 service centers from the U.S. to Asia, Australia, India, Europe and South America, and its team is accountable and transparent to its members, suppliers, customers and communities. maintains sexuality. If you would like to learn more please visit: www.chartindustries.com.
Investor contact information:
John Walsh
Vice President of Investor Relations
770-721-8899
john.walsh@chartindustries.com
