GTLS - Chart Industries pushes higher after reiterating full-year guidance
2023-06-06 15:37:53 ET
Chart Industries ( NYSE: GTLS ) +4.8% in Tuesday's trading after the company reiterated its full-year outlook for adjusted EPS of $5.50-$6.70 and revenues of $3.6B-$3.8B, as well as guidance for FY 2024 EBITDA of $1.3B, in an investor presentation .
The company said guidance does not include proceeds from potential divestitures of ~$500M which are targeted to complete in Q2 or early Q3.
Chart ( GTLS ) said it anticipates accelerated growth in this year's H2, citing six months of Howden EBITDA and free cash flow compared to slightly more than three months in H1, and Howden cost synergies ramp-up on track for $175M of annualized cost synergies in the first 12 months of ownership.
The company also cited progress in debt reduction, with Q1 net leverage of 4.08x ticking below 4.25x forecast from November, and reiterated its policy that until it is within its target net leverage ratio of 2x-2.5x, Chart ( GTLS ) will not do any material cash acquisitions or share repurchases.
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Chart Industries pushes higher after reiterating full-year guidance