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Chart Industries Inc (GTLS) SEC Filing 10-K Annual Report for the fiscal year ending Saturday, December 31, 2022

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Chart Industries Inc

HISTORY TOOLS
CIK: 892553 Ticker: GTLS

Exhibit 99.1

Chart Industries Reports Record Fourth Quarter and Full Year 2022 Results; Record Backlog Provides Strong Visibility to 2023


Atlanta, Georgia – February 24, 2023 - Chart Industries, Inc. (NYSE: GTLS) today reported results for the fourth quarter and full year ended December 31, 2022. All results reported are from continuing operations. Further details can be found in the supplemental presentation accompanying this release and published in the investor relations section of our website.

•Record fourth quarter 2022 and record full year 2022 backlog, sales, gross profit, and operating income
•Record full year 2022 orders of $2,779.9 million included our four highest order quarters in our history and increased 65.9% compared to 2021 (29.0% excluding Big LNG); fourth quarter 2022 orders of $525.9 million increased 14.1% from the fourth quarter 2021
•Record fourth quarter 2022 sales of $441.4 million contributed to record full year 2022 sales of $1,612.4 million, an increase of 22.4% (+21.4% organic, +4.8% inorganic offset by 3.9% foreign exchange headwind) compared to 2021
•Record fourth quarter operating income of $60.1 million (adjusted $75.0 million) and record fourth quarter operating income as a percent of sales of 13.6% (adjusted 17.0%) contributed to full year record operating income of $151.5 million
•Record reported EBITDA of $102.1 million in the fourth quarter 2022 (adjusted EBITDA of $97.5 million) and EBITDA as a percent of sales of 23.1% (adjusted 22.1%) driven by strong execution, continued pricing actions and small and large project work
•Reported fourth quarter 2022 non-diluted earnings per share (“EPS”) of $0.42; when adjusted for one-time items, fourth quarter adjusted non-diluted EPS was $1.67, a quarterly record, contributing to full year 2022 record non-diluted EPS of $2.21 and record adjusted non-diluted EPS of $4.69
•Fourth quarter 2022 net cash provided by operations of $30.5 million before $26.0 million of capital expenditures; when adjusted for one-time items, fourth quarter 2022 adjusted free cash flow of $71.5 million
•Reiterating Chart standalone 2023 full-year sales outlook of $2.10 billion to $2.20 billion and reiterating our associated 2023 full-year adjusted EBITDA outlook in the range of $440 million to $480 million
•Howden acquisition anticipated to close in the next 45 days and on-track to delivering our year-one synergy and financial commitments.

We set numerous full year 2022 and fourth quarter 2022 historical records.

1
The following information was filed by Chart Industries Inc (GTLS) on Friday, February 24, 2023 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Inside Chart Industries Inc's 10-K Annual Report:

Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Audit Information
Cover
Consolidated Balance Sheets
Consolidated Balance Sheets (Parentheticals)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Cash Flows (Parenthetical)
Consolidated Statements Of Comprehensive Income
Consolidated Statements Of Equity
Consolidated Statements Of Equity (Parenthetical)
Consolidated Statements Of Income
Accumulated Other Comprehensive (Loss) Income
Accumulated Other Comprehensive (Loss) Income (Details)
Accumulated Other Comprehensive (Loss) Income (Tables)
Business Combinations
Business Combinations (Tables)
Business Combinations - Contingent Consideration (Details)
Business Combinations - Intangible Assets Acquired (Details)
Business Combinations - Narratives (Details)
Business Combinations - Net Asset Acquired (Details)
Commitments And Contingencies
Commitments And Contingencies - Narratives (Details)
Debt And Credit Arrangements
Debt And Credit Arrangements (Tables)
Debt And Credit Arrangements - 2024 Convertible Notes (Details)
Debt And Credit Arrangements - Committed Bridge Loan Facility And Committed Term Loan B (Details)
Debt And Credit Arrangements - Fair Value Disclosure (Details)
Debt And Credit Arrangements - Foreign Facilities (Details)
Debt And Credit Arrangements - Interest Expense And Financing Cost Amortization (Details)
Debt And Credit Arrangements - Notes Interest Accretion Schedule (Details)
Debt And Credit Arrangements - Restricted Cash (Details)
Debt And Credit Arrangements - Scheduled Annual Maturities (Details)
Debt And Credit Arrangements - Senior Secured And Unsecured Notes (Details)
Debt And Credit Arrangements - Senior Secured Revolving Credit Facility (Details)
Debt And Credit Arrangements - Summary Of Outstanding Borrowings (Details)
Discontinued Operations
Discontinued Operations (Tables)
Discontinued Operations - Cash Flows Related To Discontinued Operations (Details)
Discontinued Operations - Income For Discontinued Operations (Details)
Discontinued Operations - Narratives (Details)
Earnings Per Share
Earnings Per Share (Tables)
Earnings Per Share - Antidilutive Securities (Details)
Earnings Per Share - Earnings Per Share (Details)
Employee Benefit Plans
Employee Benefit Plans (Tables)
Employee Benefit Plans - Actuarial Assumptions (Details)
Employee Benefit Plans - Asset Category And Fair Value Of Plan Assets (Details)
Employee Benefit Plans - Expected Future Payments (Details)
Employee Benefit Plans - Narratives (Details)
Employee Benefit Plans - Net Pension Expense (Details)
Employee Benefit Plans - Projected Benefit Obligation And Plan Asset Fund Status (Details)
Employee Benefit Plans - Rollforward Of Unobservable Plan Assets (Details)
Financial Instruments And Derivative Financial Instruments
Financial Instruments And Derivative Financial Instruments (Tables)
Financial Instruments And Derivative Financial Instruments - Concentration Of Credit Risks (Details)
Financial Instruments And Derivative Financial Instruments - Derivatives And Hedging (Details)
Financial Instruments And Derivative Financial Instruments - Fair Value Disclosures About Debt (Details)
Financial Instruments And Derivative Financial Instruments - Fair Value Of Assets And Liabilities Of Derivatives (Details)
Financial Instruments And Derivative Financial Instruments - Schedule Of Other Accumulated Comprehensive Income (Loss) (Details)
Goodwill And Intangible Assets
Goodwill And Intangible Assets (Tables)
Goodwill And Intangible Assets - Finite-Lived And Indefinite-Lived Intangible Assets (Details)
Goodwill And Intangible Assets - Future Amortization Expense (Details)
Goodwill And Intangible Assets - Goodwill Rollforward (Details)
Goodwill And Intangible Assets - Government Grants (Details)
Goodwill And Intangible Assets - Narratives (Details)
Income Taxes
Income Taxes (Tables)
Income Taxes - Deferred Tax Asset And Liabilities (Details)
Income Taxes - Effective Tax Rate Reconciliation (Details)
Income Taxes - Income From Continuing Operations Before Income Taxes (Details)
Income Taxes - Narratives (Details)
Income Taxes - Significant Components (Details)
Income Taxes - Unrecognized Income Tax Benefits (Details)
Inventories
Inventories (Details)
Inventories (Tables)
Investments
Investments (Tables)
Investments - Equity Method Investment Narrative (Details)
Investments - Equity Method Investments (Details)
Investments - Investments In Equity Securities (Details)
Investments - Investments In Equity Securities Narrative (Details)
Investments - Narratives (Details)
Leases
Leases (Tables)
Leases - Cost Of Equipment Leased (Details)
Leases - Future Minimum Payments (Details)
Leases - Narratives (Details)
Leases - Payments For Sales-Type Leases (Details)
Leases - Payments To Operating Leases (Details)
Leases - Sales From Sales-Type And Operating Leases (Details)
Nature Of Operations And Principles Of Consolidation
Nature Of Operations And Principles Of Consolidation (Details)
Product Warranties
Product Warranties (Details)
Product Warranties (Tables)
Property, Plant And Equipment
Property, Plant And Equipment (Details)
Property, Plant And Equipment (Tables)
Property, Plant And Equipment - Narratives (Details)
Restructuring Activities
Restructuring Activities (Tables)
Restructuring Activities - Narratives (Details)
Restructuring Activities - Restructuring Accruals (Details)
Restructuring Activities - Restructuring Charges (Details)
Revenue
Revenue (Tables)
Revenue - Change In Contract Assets And Liabilities (Details)
Revenue - Disaggregation By Timing (Details)
Revenue - Narratives (Details)
Schedule Ii ??? Valuation And Qualifying Accounts
Schedule Ii ??? Valuation And Qualifying Accounts (Details)
Segment And Geographic Information
Segment And Geographic Information (Tables)
Segment And Geographic Information - Assets (Details)
Segment And Geographic Information - Geographic Information (Details)
Segment And Geographic Information - Product Sales Information (Details)
Segment And Geographic Information - Segment Income (Details)
Share-Based Compensation
Share-Based Compensation (Tables)
Share-Based Compensation - Directors' Stock Grants (Details)
Share-Based Compensation - Performance Units Narratives (Details)
Share-Based Compensation - Performance Units Rollforward (Details)
Share-Based Compensation - Restricted Stock And Rsu's Narratives (Details)
Share-Based Compensation - Restricted Stock And Rsu's Rollforward (Details)
Share-Based Compensation - Share-Based Plans Narratives (Details)
Share-Based Compensation - Stock Option Valuation Assumptions (Details)
Share-Based Compensation - Stock Options Activity Rollforward (Details)
Share-Based Compensation - Stock Options Narratives (Details)
Shareholders' Equity
Shareholders' Equity (Tables)
Shareholders' Equity - Additional Information (Details)
Shareholders' Equity - Schedule Of Mandatory Convertible Preferred Stock (Details)
Significant Accounting Policies
Significant Accounting Policies (Details)
Significant Accounting Policies (Policies)
Significant Accounting Policies (Tables)
Significant Accounting Policies - Impact On Financial Statements (Details)
Ticker: GTLS
CIK: 892553
Form Type: 10-K Annual Report
Accession Number: 0000892553-23-000043
Submitted to the SEC: Fri Feb 24 2023 11:55:59 AM EST
Accepted by the SEC: Fri Feb 24 2023
Period: Saturday, December 31, 2022
Industry: Fabricated Plate Work Boiler Shops

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