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Sep 30, 2020
Chart Q3 2020 Earnings Report
Reported third quarter results with increased orders and strategic investments.
Key Takeaways
Chart Industries reported a decrease in sales by 19.2% compared to Q3 2019, driven by E&C FinFans, but the rest of the business saw an 11.1% increase. The company's third-quarter orders were $262.7 million, and the adjusted earnings per diluted share was $0.63. The company is focusing on clean energy transition and hydrogen-related opportunities, with significant investments and acquisitions in these areas.
Third quarter 2020 orders increased 7.4% sequentially to $262.7 million.
Signed ten new long-term agreements with major customers.
Completed the divestiture of the cryobiological business for $320 million in cash.
Full year 2020 revenue guidance of $1.18 billion and adjusted EPS of $2.25.
Forward Guidance
Full year 2020 sales are expected to be approximately $1.18 billion, and full year 2021 sales are expected to be approximately $1.25 billion to $1.325 billion.
Positive Outlook
- Full year 2020 sales are expected to be approximately $1.18 billion.
- Full year 2020 diluted adjusted earnings per share to be approximately $2.25.
- Full year 2021 sales are expected to be approximately $1.25 billion to $1.325 billion.
- Full year 2021 diluted adjusted earnings per share to be approximately $3.00 to $3.40.
- Assumed effective tax rate is 18% for the full year 2021.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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