Loading...
Loading...
- Chart Industries, Inc. GTLS reported third-quarter sales growth of 20.2% year-over-year to $328.3 million, an organic increase of 13.4%, missing the consensus of $348.21 million.
- Sales by segments: Cryo Tank Solutions $112.2 million (+10% Y/Y), Heat Transfer Systems $56.4 million (-30.1% Y/), Specialty Products $116.9 million (+109% Y/Y), Repair, Service & Leasing $46.3 million (+26.9% Y/Y).
- Adjusted EPS improved to $0.81 from $0.64 in 3Q20, missing the consensus of $0.84.
- The gross margin contracted by 600 bps to 22.8%.
- The operating income decreased by 51.2% Y/Y to $13.7 million, and the margin contracted by 610 bps to 4.2%.
- Orders of $350.2 million resulted in a backlog of $1.1 billion, bringing year-to-date orders to $1.21 billion (+53.3% Y/Y).
- Chart Industries' cash used in operating activities year-to-date totaled $41.6 million, compared to $112.5 million net cash provided a year ago. It held cash and equivalents of $103.1 million as of September 30, 2021.
- The company projects certain further tempering of specific headwinds in the coming quarter with more normalization of the macro difficulties later in 2022.
- FY21 Outlook: Chart Industries slashed its sales outlook to $1.31 billion - $1.33 billion (prior guidance of $1.38 billion - $1.43 billion) due to project shipment and revenue recognition timing shifting to 2022, versus the consensus of $1.39 billion. It sees adjusted non-diluted EPS of $2.75 - $3.10.
- FY22 Outlook: Chart Industries increased the revenue outlook to $1.70 billion - $1.85 billion (prior view $1.60 billion - $1.70 billion) against the consensus of $1.70 billion. It sees adjusted non-diluted EPS of $5.25 - $6.50.
- Price Action: GTLS shares are trading lower by 7.36% at $168.08 on the last check Thursday.
Loading...
Loading...
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Date | ticker | name | Actual EPS | EPS Surprise | Actual Rev | Rev Surprise |
---|
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in