- Chart Industries, Inc. GTLS reported second-quarter FY22 sales growth of 25.7% year-over-year to $404.8 million, beating the consensus of $390.49 million.
- Adjusted EPS improved to $0.88 from $0.65 in 2Q21, beating the consensus of $0.84.
- Gross margin contracted by 242 bps to 23.4%. Operating income increased by 16.1% to $29.6 million, and margin contracted by 61 bps to 7.3%.
- Chart Industries' cash provided by operating activities year-to-date totaled $12.5 million, compared to cash used of $(28.3) million a year ago. It held cash and equivalents of $149.7 million as of June 30, 2022.
- Orders of $887.8 million (+98.2% Y/Y) resulted in a backlog of $1.95 billion (+80% Y/Y). Orders included $300 million related to the Big LNG export terminals.
- "We continue to see broad-based demand across our end markets, with expectations for additional LNG projects and retrofits as well as a global focus on the energy transition," stated CEO Jill Evanko.
- FY22 Outlook: Chart Industries narrowed its sales guidance within the prior guidance range. It sees sales of $1.725 billion - $1.80 billion (prior view $1.725 billion - $1.85 billion), against the consensus of $1.75 billion.
- It sees adjusted non-diluted EPS of $5.20 - $5.60 (prior $5.35 - $6.50) vs. the consensus of $5.24.
- GTLS expects capital expenditures of $55 million - $60 million and adjusted FCF of $175 million - $225 million.
- Price Action: GTLS shares are trading higher by 7.43% at $192.51 on the last check Friday.
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