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Dec 31, 2021
Chart Q4 2021 Earnings Report
Chart Industries reported record sales and orders driven by broad-based demand and strategic pricing actions.
Key Takeaways
Chart Industries reported a record fourth quarter and full year in both sales and orders. Q4 orders reached $460.9 million, contributing to a record full-year order total of $1,676.1 million and a record backlog of $1,190.1 million. Sales for the quarter were $378.9 million, also contributing to record full-year sales of $1,317.7 million. The company's adjusted non-diluted EPS for the quarter was $0.73.
Fourth quarter and full-year 2021 orders were historical records.
Specialty Products fourth quarter 2021 orders included $85.4 million of hydrogen-related orders.
Record fourth quarter sales of $378.9 million contributed to record full-year 2021 sales of $1,317.7 million.
Fourth quarter 2021 adjusted non-diluted EPS was $0.73.
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Forward Guidance
Chart Industries reconfirmed its 2022 full year sales outlook range of $1.70 billion to $1.85 billion and associated adjusted non-diluted EPS is expected to be in the range of $5.25 to $6.50.
Positive Outlook
- Record order year in 2021
- Record order quarter in Q4 2021
- Record backlog as of December 31, 2021
- Visibility to strongest ever commercial pipeline of potential work
- Sales are expected to sequentially increase throughout the year
Challenges Ahead
- First quarter 2022 sales are seasonally in line with a typical Chart year, where the first quarter is the lowest of the year
- Chinese New Year impact on Q1
- Customer capital spend behavior (the first quarter is typically sequentially lower than the prior fourth quarter)
- High COVID-19 absences in the first five weeks of 2022
- First half of 2022 will include a margin drag from historical levels from the ongoing macro challenges