Loading...
•
Mar 31, 2021
Chart Q1 2021 Earnings Report
Chart Industries reported first quarter earnings with record orders and backlog, driven by broad-based demand and strategic investments.
Key Takeaways
Chart Industries reported record orders and backlog, driven by broad-based demand and strategic investments. Sales were $288.5 million, and adjusted EPS grew 196% compared to the previous year. The company increased its full-year revenue and adjusted EPS guidance.
Record orders of $417.2 million (excluding Big LNG) led to a record backlog of $934.1 million.
Reported diluted earnings per share (EPS) of $0.63, a 950% increase compared to Q1 2020, with adjusted diluted EPS at $0.80, up 196% from Q1 2020.
Gross margin as a percent of sales reached 29.1% (29.9% adjusted), the highest in four years.
Repair, Service & Leasing and Specialty Products comprised 41.1% of total net sales, the highest in the company's history.
Chart
Chart
Forward Guidance
Full year 2021 sales are expected to be approximately $1.36 billion to $1.41 billion. Full year non-diluted adjusted earnings per share to be approximately $3.65 to $4.15.
Positive Outlook
- Strong first quarter 2021 order book.
- Specific liquefaction projects for Plug Power (hydrogen) and New Fortress Energy (FastLNG).
- Commercial opportunities increasing from inorganic investments and acquisitions completed in the past six months.
- Each quarter in 2021 will be better than the prior.
- Expected strong Free Cash Flow (“FCF”) in 2021.