Chart Q4 2024 Earnings Report
Key Takeaways
Chart Industries reported Q4 2024 revenue of $1.11 billion, up 10.1% from Q4 2023. Adjusted EPS was $2.66, driven by strong performance in Heat Transfer Systems and Specialty Products. Net income rose to $79.6 million, while free cash flow improved to $261 million. The company ended the year with a robust backlog of $4.85 billion and anticipates continued margin expansion in 2025.
Revenue increased 10.1% year-over-year, reaching $1.11 billion.
Net income attributable to Chart Industries was $79.6 million, up from $49.8 million in Q4 2023.
Adjusted operating income margin improved to 22.0%, up 90 basis points year-over-year.
Backlog reached a record $4.85 billion, positioning the company for continued growth in 2025.
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Chart Revenue by Segment
Forward Guidance
Chart Industries expects strong demand in 2025, supported by a record backlog and growth in LNG, hydrogen, and carbon capture technologies.
Positive Outlook
- Projected 2025 revenue between $4.65 billion and $4.85 billion.
- Expected adjusted EBITDA between $1.175 billion and $1.225 billion.
- Backlog of $4.85 billion provides strong revenue visibility for 2025.
- Expanding LNG and clean energy opportunities, including carbon capture and hydrogen.
- Targeting net leverage ratio of below 2.5x in 2025.
Challenges Ahead
- Foreign exchange headwinds could impact 2025 revenue growth by approximately 2%.
- Interest expenses remain elevated, affecting net income.
- Potential supply chain disruptions could impact project execution.
- Increased competition in the LNG and hydrogen sectors.
- Ongoing restructuring costs could weigh on short-term profitability.
Revenue & Expenses
Visualization of income flow from segment revenue to net income