Overview

• Gas equipment maker's Q4 sales decreased 2.5%, missing analyst expectations

• Q4 orders declined 23.8% due to absence of large LNG orders

• Company's backlog increased 21.5% to $5.89 bln

Outlook

• Chart Industries anticipates 44% of year-end backlog to ship over the next 12 months

Result Drivers

• DATA CENTER DEMAND - Increased demand from data center customers, including small-scale LNG solutions, contributed to Q4 results

• CARBON CAPTURE ORDERS - Specialty Products segment saw strong orders in carbon capture, nuclear, and marine markets, offsetting lower hydrogen orders

• BACKLOG GROWTH - Backlog increased 21.5% to $5.89 bln, driven by carbon capture, data center, nuclear, marine, and industrial gases markets

Company press release: ID:nGNXHz5PW

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "hold" and the breakdown of recommendations is no "strong buy" or "buy", 10 "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the industrial machinery & equipment peer group is "buy."

• Wall Street's median 12-month price target for Chart Industries Inc is $210.00, about 1.2% above its February 26 closing price of $207.43

• The stock recently traded at 16 times the next 12-month earnings vs. a P/E of 15 three months ago

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)