GTLS - Chart Industries reports mixed Q3 earnings; narrows FY22 and issues FY23 guidance

• Chart Industries press release ( NYSE: GTLS ): Q3 Non-GAAP EPS of $1.49 beats by $0.18 .
• Revenue of $412.1M (+25.5% Y/Y) misses by $34.99M .
• "Record backlog of $2,254.1M (+104% Y/Y) is our eighth consecutive record backlog quarter, surpassing $2B for the first time in our history."
• Reported gross margin as a percent of sales of 25.4%, the highest since the first quarter of 2021 (adjusted gross margin as a percent of sales of 27.3%).
• Third quarter 2022 orders of $729.4M, including 71 orders each over $1M, a 108% increase compared to the third quarter 2021.
• 2022 full-year sales guidance range of $1.65 billion to $1.70 billion (prior guidance of $1.725 billion to $1.80 billion); associated 2022 full-year adjusted non-diluted EPS guidance is in the range of $5.00 to $5.25 (prior guidance of $5.20 to 5.60) on 35.87 million shares outstanding (prior 35.86 million shares) and a tax rate of 17% (prior tax rate of 20%).
• 2023 full-year sales outlook range of $2.10 billion to $2.20 billion; associated 2023 full-year adjusted non-diluted EPS outlook is in the range of $7.50 to $8.50 on 35.87 million shares outstanding and a tax rate of 19%.

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