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Jun 30, 2021
Chart Q2 2021 Earnings Report
Reported second quarter 2021 results, highlighted by record orders and backlog, and increased full year guidance.
Key Takeaways
Chart Industries reported record orders and backlog for the second quarter of 2021, driven by broad-based demand for its products and technologies. Sales increased by 11.2% compared to the second quarter of 2020, and the company raised its full-year revenue and adjusted EPS guidance.
Record orders of $447.9 million, contributing to a record backlog of $1,083.9 million.
Sales of $322.0 million, an increase of 11.2% compared to the second quarter of 2020.
Reported diluted earnings per share (EPS) of $0.16 and adjusted non-diluted EPS of $0.80.
Increased full year 2021 revenue guidance to $1.38 billion to $1.43 billion and adjusted non-diluted EPS of $3.80 to $4.25.
Forward Guidance
Chart Industries increased its full year 2021 sales guidance to be approximately $1.380 billion to $1.430 billion and anticipates full year non-diluted adjusted earnings per share to be approximately $3.80 to $4.25.
Positive Outlook
- Strong first half 2021 order book.
- Specific hydrogen and helium liquefaction projects.
- Each quarter in 2021 is expected to be better than the prior quarter.
- Potential for additional revenue from drop-in projects in HTS.
- Opportunity for up to four Big LNG projects to move to Final Investment Decision in the first half of 2022.
Challenges Ahead
- Material cost and supply headwinds.
- One-time restructuring and start-up costs impacted gross margin.
- Negative net cash provided by operating activities.
- Negative free cash flow due to investment in inventory.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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