GTLS - Chart Industries raises FY2021 EPS outlook

Chart Industries ([[GTLS]] +3.8%) Q3 orders of $262.7M increased 7.4% sequentially, though remained flat on Y/Y basis. Backlog of $684.9M declined 8% Y/Y and almost same as compared to Q2. D&S West backlog of $179.7M was supported by a record order quarter ($126M).Booked orders with 147 new customers; total new customers year-to-date of 407 includes 115 specialty market customers. Signed ten new long-term agreements.Q3 sales of $273.2M were down 19.2%, entirely driven by Energy & Chemicals FinFans. Excluding FinFans, the rest of the business’ sales were up 11.1% Y/Y, with D&S East up 20.9%. .As of September 30, net leverage ratio was 2.92. After the completion of the divestiture, debt paydown, and the two hydrogen inorganic investments, pro forma net leverage ratio was 1.98. Ended the quarter with $120.7M cash on hand.As reported earlier, sees 2020 revenue in the range of $1.18B with diluted adjusted EPS of $2.25For 2021, expects revenue

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Chart Industries raises FY2021 EPS outlook