NYSE$GTLS
Chart Industries Inc. · Q1 2023 earnings
Q1 2023 earnings · · Investor relations
Briefing
Reported record sales, record backlog, broad-based demand, and year-over-year improvement in margins.
Chart Industries reported strong first quarter 2023 results, including record sales of $537.9 million and record backlog of $3.9 billion. The company's adjusted EBITDA margin reached 19.0%, driven by price/cost improvements, Howden's contribution, full solution project offerings, and record RSL gross profit and operating profit. Increased sales outlook to $3.66B - $3.80B and associated adjusted EBITDA of $780M - $810M.
- Record backlog for Chart of $3.9 billion.
- Orders of $747.7 million, driven by broad-based demand.
- Sales of $537.9 million, including record sales in Heat Transfer Systems and Repair, Service and Leasing.
- Adjusted diluted EPS was $1.41.
Headline financials
Revenue & EPS history
Chart · Revenue · Quarterly
$538M
Forward guidance
Increasing our 2023 sales outlook to $3.66 billion to $3.80 billion and associated adjusted EBITDA of $780 million to $810 million. Reiterating our 2024 adjusted EBITDA outlook of approximately $1.3 billion.
Tailwinds
- Strong start to our synergy achievement
- Continued demand in our commercial pipeline of the combined business
- First quarter 2023 record backlog
- Expect to book two to three additional Big LNG orders in 2023
- Expect to see the normal second quarter sequential increase in both Chart legacy and Howden’s business
Headwinds
- Slower than anticipated growth and market acceptance of new clean energy product offerings
- Inability to achieve expected pricing increases or continued supply chain challenges including volatility in raw materials and supply
- Risks relating to the outbreak and continued uncertainty associated with the coronavirus (COVID-19)
- Conflict between Russia and Ukraine including potential energy shortages in Europe and elsewhere
- Company’s ability to successfully integrate the Howden acquisition and other recent acquisitions and achieve the anticipated revenue, earnings, accretion and other benefits from these acquisitions
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 19 quarterly earnings reports · overlaid with Q1 2023
+2.4%
Avg return
Earnings day
+3.9%
Avg return
5 days after
+4.5%
Avg return
30 days after
62%
42 / 68 earnings
Positive
+19.3%
Q2 2020
Best reaction
-24.7%
Q2 2024
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +0.2% | -0.1% | -0.5% | |
| Q4 2025 | -0.0% | -0.3% | -0.3% | |
| Q3 2025 | +0.0% | -0.1% | +2.2% | |
| Q1 2025 | +12.2% | +12.1% | +16.2% | |
| Q4 2024 | +4.6% | -8.9% | -19.2% | |
| Q3 2024 | +17.2% | +37.5% | +60.1% | |
| Q2 2024 | -24.7% | -26.5% | -20.4% | |
| Q1 2024 | +9.0% | +8.2% | +8.3% | |
| Q4 2023 | +8.6% | +9.0% | +25.3% | |
| Q3 2023 | -17.2% | -21.7% | -8.8% | |
| Q2 2023 | +14.9% | +7.9% | +4.7% | |
| Q1 2023 | -1.3% | -9.7% | -14.4% | |
| Q4 2022 | +3.2% | +3.4% | -14.8% | |
| Q3 2022 | +9.2% | +7.2% | -33.7% | |
| Q2 2022 | +5.9% | +5.5% | +9.0% | |
| Q1 2022 | +8.5% | +19.6% | +18.8% | |
| Q4 2021 | +18.3% | +30.6% | +70.2% | |
| Q3 2021 | -6.2% | -5.7% | -0.1% | |
| Q2 2021 | -7.0% | -8.7% | +13.2% | |
| Q1 2021 | +12.7% | +17.9% | +9.1% | |
| Q4 2020 | -13.4% | -11.5% | -4.8% | |
| Q3 2020 | +6.1% | +3.9% | +19.8% | |
| Q2 2020 | +19.3% | +17.1% | +31.3% | |
| Q1 2020 | +16.6% | +29.3% | +28.8% | |
| Q4 2019 | +12.0% | +8.6% | -63.4% | |
| Q3 2019 | -1.2% | +0.9% | -3.5% | |
| Q2 2019 | +10.2% | +9.5% | -11.7% | |
| Q1 2019 | -4.1% | -0.9% | -10.4% | |
| Q4 2018 | +6.9% | +2.6% | +10.2% | |
| Q3 2018 | +3.4% | +2.4% | -1.4% | |
| Q2 2018 | +13.1% | +10.5% | +13.2% | |
| Q1 2018 | +2.4% | -4.3% | +6.2% | |
| Q4 2017 | +18.1% | +14.4% | +16.2% | |
| Q3 2017 | +6.8% | +3.4% | +10.7% | |
| Q2 2017 | +1.9% | -1.5% | -3.0% | |
| Q1 2017 | +0.6% | -0.8% | -1.2% | |
| Q4 2016 | -5.9% | -7.6% | -14.2% | |
| Q3 2016 | -5.5% | -9.7% | +12.8% | |
| Q2 2016 | +12.5% | +8.4% | +15.3% | |
| Q1 2016 | +4.6% | — | — | |
| Q4 2015 | +16.1% | — | — | |
| Q3 2015 | -20.5% | — | — | |
| Q2 2015 | -12.9% | — | — | |
| Q1 2015 | -12.3% | — | — | |
| Q4 2014 | +8.4% | — | — | |
| Q3 2014 | +0.6% | — | — | |
| Q2 2014 | -10.3% | — | — | |
| Q1 2014 | -7.7% | — | — | |
| Q4 2013 | -6.5% | — | — | |
| Q3 2013 | -16.5% | — | — | |
| Q2 2013 | +14.9% | — | — | |
| Q1 2013 | -0.1% | — | — | |
| Q4 2012 | +18.4% | — | — | |
| Q3 2012 | -8.6% | — | — | |
| Q2 2012 | +6.9% | — | — | |
| Q1 2012 | +12.2% | — | — | |
| Q4 2011 | -0.3% | — | — | |
| Q3 2011 | +2.7% | — | — | |
| Q2 2011 | -9.7% | — | — | |
| Q1 2010 | -5.8% | — | — | |
| Q1 2011 | -0.7% | — | — | |
| Q4 2008 | -3.5% | — | — | |
| Q4 2010 | -3.5% | — | — | |
| Q3 2009 | +14.3% | — | — | |
| Q3 2010 | +14.3% | — | — | |
| Q2 2010 | +0.2% | — | — | |
| Q2 2009 | +0.2% | — | — | |
| Q4 2009 | +0.2% | — | — |
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