Arsgera
Chart Industries (NYSE:GTLS) closed -24.8% to nearly a five-month low in Friday’s trading, after missing expectations for Q3 adjusted earnings and revenues, and lowering full-year revenue guidance below analyst consensus.
Chart (GTLS) swung to a Q3 GAAP loss of $3.4M, or a loss of $0.07/share, from a $41.2M net profit, or $0.98/share, in the year-earlier quarter, while revenues rose nearly 10% Y/Y to $897.9M.
The company said record Q3 EBITDA of $169.3M drove record EBITDA margin of 18.9%; when adjusted for one-time costs primarily related to the Howden deal and integration costs, adjusted EBITDA was $195M and EBITDA margin was 21.7%, compared to 17.3% year-ago pro forma EBITDA margin.
Chart (GTLS) also said it sold its American Fan business to Fairbanks Morse Defense for $111M in cash.
Chart (GTLS) maintained guidance for FY 2023 earnings of $6.05-$6.25/share, in line with $6.28/share analyst consensus estimate, while lowering its full-year revenue outlook to $3.45B-$3.5B from previous guidance of $3.66B-$3.8B, below $3.62B consensus estimate.
The company reiterated its forecast for FY 2024 adjusted earnings of at least $14.00/share, adjusted EBITDA of $1.3B, sales of ~$5.1B, and free cash flow of $575M-$625M.
