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LONDON, UK / ACCESSWIRE / April 30, 2018 / Active-Investors.com has just released a free earnings report on Chart Industries, Inc. (NASDAQ: GTLS). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=GTLS. Chart Industries reported its first quarter fiscal 2018 operating and financial results on April 12, 2018. The equipment maker for the energy sector outperformed top- and bottom-line expectations and provided guidance for FY18. Register today and get access to over 1,000 Free Research Reports by joining our site below:
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Active-Investors.com is currently working on the research report for Allegheny Technologies Incorporated (NYSE: ATI), which also belongs to the Industrial Goods sector as the Company Chart Industries. Do not miss out and become a member today for free to access this upcoming report at:
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Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Chart Industries most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:
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Earnings Highlights and Summary
Chart Industries' orders of $321.1 million sequentially increased 13% and surged 35% organically on a y-o-y basis, with each segments' orders increasing both sequentially and y-o-y. This was the Company's fifth consecutive quarter of sequential order growth.
During Q1 FY18, Chart Industries' sales were $279.7 million, surging 37% compared to $204.1 million in Q1 FY17. All three segments' sales increased on a y-o-y basis, with Distribution & Storage (D&S) and BioMedical sales increasing 20.2% and 7.3%, respectively. The Company's reported numbers beat analysts' estimates of $259.8 million.
For Q1 FY18, Chart Industries' gross profit was $77.1 million, or 27.6% of sales, compared to gross profit of $82.9 million, or 27.1% of sales, for Q4 FY17. The Company's selling, general, and administrative (SG&A) expenses were $54.1 million for the reported quarter, inclusive of $1.3 million of transaction-related costs, $0.6 million of restructuring costs and $3.2 million of share-based compensation.
Chart Industries' net income was $5.8 million, or $0.18 per diluted share, for Q1 FY18 compared to net loss of $2.9 million, or $0.09 per diluted share, in Q1 FY17. The Company's earnings would have been $0.23 per diluted share excluding $1.3 million of transaction-related costs and $0.9 million of restructuring costs for the reported quarter compared to earnings of $0.01 per diluted share excluding $4.6 million of restructuring and transaction-related costs in Q1 FY17. The Company's earnings beat Wall Street's estimates of $0.19 per share.
Chart Industries' Segment Results
For Q1 FY18, the orders in Energy & Chemicals (E&C) were $93.7 million, inclusive of $37.0 million from Hudson Products, reflecting an increase of 24.6% on a q-o-q basis. This was the fourth quarter in a row with E&C order levels above $60 million. E&C segment sales of $89.9 million were up organically 16.7% on a y-o-y basis, driven by natural gas demand, in particular in its air-cooled heat exchanger product line. E&C gross margin was $19.4 million and was 21.6% of sales in Q1 FY18 compared to $8.4 million, or 21.1% of sales, in Q1 FY17.
For Q1 FY18, Chart Industries' D&S sales totaled $136.1 million compared to sales of $113.2 million in Q1 FY17, driven by strength in United States packaged gas, China LNG trailers and vaporization stations, and European standard tanks. D&S recorded five consecutive quarters of sequential order growth in the segment. The segment's gross margin as a percent of sales of 27.6% increased from 27.0% in Q1 FY17, reflecting continued improvement in the Company's Chinese business as well as productivity efforts in the European and US manufacturing locations.
During Q1 FY18, the BioMedical segment recorded sales of $54.7 million compared to $51.0 million in Q1 FY17. The segment recorded gross profit of $20.2 million in the reported quarter compared to $16.7 million in the year earlier same quarter.
Outlook
For full year 2018, Chart Industries is forecasting sales to be in the range of $1.15 billion to $1.20 billion. The Company is expecting adjusted earnings to be in the band of $1.75 to $2.00 per share compared to its earlier FY18 earnings guidance was $1.65 to $1.90 per share. Chart Industries is estimating capital expenditures to be in the range of $35 million to $45 million for FY18.
Stock Performance Snapshot
April 27, 2018 - At Friday's closing bell, Chart Industries' stock fell 1.42%, ending the trading session at $57.81.
Volume traded for the day: 119.12 thousand shares.
Stock performance in the last three-month — up 12.01%; previous six-month period — up 37.45%; past twelve-month period — up 56.88%; and year-to-date — up 23.37%
After last Friday's close, Chart Industries' market cap was at $1.79 billion.
Price to Earnings (P/E) ratio was at 127.33.
The stock is part of the Industrial Goods sector, categorized under the Metal Fabrication industry.
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