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Chart Industries Inc (GTLS) SEC Filing 10-Q Quarterly report for the period ending Tuesday, June 30, 2020

Chart Industries Inc

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CIK: 892553 Ticker: GTLS

Exhibit 99.1
Chart Industries Reports 2020 Second Quarter Results

Atlanta, Georgia – July 23, 2020 - Chart Industries, Inc. (NASDAQ: GTLS), a leading diversified global manufacturer of highly engineered equipment for the industrial gas and energy industries, today reported results for the second quarter ended June 30, 2020. Further details can be found in the supplemental presentation included with this release. Highlights include:

•Second quarter 2020 orders of $267.6 million included $125.1 million in June 2020, making it the highest order month of 2020 to date, a record order month for HLNG vehicle tanks and contributing to a record order quarter for LNG fueling stations
•Booked small-scale LNG terminal order for U.S. utility customer ($13.3 million)
•Signed five long-term agreements with major customers including repair and service, and booked orders with 132 new customers in the second quarter 2020; total new customers year-to-date of 260 includes 68 specialty market customers
•Expanded to eight confidential pilot projects for hydrogen (from four at the end of Q1 2020)
•Gross margin as a percent of sales of 29.8% (30.3% normalized for restructuring charges) is an increase of 310 basis points over the second quarter of 2019 and 130 basis points sequentially over the first quarter of 2020
•Executed on $61.2 million of annualized cost savings in the first half of 2020, driving expected continued expansion of gross margin and operating income as a percent of sales throughout the second half of 2020
•Generated $54.8 million of net cash provided by operating activities, which equates to $44.1 million of operational free cash flow (after $11 million of capital expenditures) resulting in net leverage ratio of 2.97, a reduction from 3.12 at the end of the first quarter 2020
•Reported earnings per diluted share of $0.57 includes restructuring and other one-time items resulting in adjusted earnings per diluted share of $0.63
•Full year 2020 guidance of revenue of $1.3 billion to $1.4 billion and associated diluted adjusted EPS of $3.00 to $3.50

We finished the second quarter of 2020 with $125.1 million of orders in the month of June, bringing second quarter total orders to $267.6 million. June was the strongest order month of 2020 to date and included a $13.3 million utility-scale LNG terminal order.

Medical oxygen-related orders, generally for use with COVID-19 patients, increased 23.9% in the second quarter of 2020 compared to the first quarter. We saw peak medical oxygen demand in the month of April with related orders tapering to more typical levels in late May and June. In early July 2020, orders have begun to pick up for these applications due to “round two” of COVID-19 hot spots in the United States and Latin America. Perhaps more impactful to our year and next decade growth is the fact that COVID-19 has sparked an emphasis on health and clean

The following information was filed by Chart Industries Inc (GTLS) on Thursday, July 23, 2020 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-Q Quarterly 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-Q Quarterly Report:

Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Cover
Condensed Consolidated Balance Sheets (Unaudited)
Condensed Consolidated Balance Sheets (Unaudited) (Parentheticals)
Condensed Consolidated Statements Of Cash Flows (Unaudited)
Condensed Consolidated Statements Of Cash Flows (Unaudited) (Parentheticals)
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Accumulated Other Comprehensive Loss (Tables)
Accumulated Other Comprehensive Loss - Accumulated Other Comprehensive Loss Rollforward (Details)
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Debt And Credit Arrangements (Tables)
Debt And Credit Arrangements - 2024 Notes Narratives (Details)
Debt And Credit Arrangements - Fair Value Disclosures About Debt (Details)
Debt And Credit Arrangements - Foreign Facilities (Details)
Debt And Credit Arrangements - Interest Expense And Financing Cost Amortization (Details)
Debt And Credit Arrangements - Letters Of Credit (Details)
Debt And Credit Arrangements - Notes Interest Accretion Schedule (Details)
Debt And Credit Arrangements - Senior Secured Revolving Credit Facility And Term Loan (Details)
Debt And Credit Arrangements - Summary Of Outstanding Borrowings (Details)
Earnings Per Share
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Goodwill And Intangible Assets - Intangible Assets (Excluding Goodwill) (Details)
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Reportable Segments
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Reportable Segments - Product Sales Information (Details)
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Restructuring Activities - Restructuring Charges (Details)
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Share-Based Compensation (Details)
Subsequent Event

Material Contracts, Statements, Certifications & more

Chart Industries Inc provided additional information to their SEC Filing as exhibits

Exhibit 31.1: Rule 13A-14(A)/15D-14(A) Certification
Exhibit 32.1: Section 1350 Certification
Ticker: GTLS
CIK: 892553
Form Type: 10-Q Quarterly Report
Accession Number: 0000892553-20-000083
Submitted to the SEC: Thu Jul 23 2020 1:42:43 PM EST
Accepted by the SEC: Thu Jul 23 2020
Period: Tuesday, June 30, 2020
Industry: Fabricated Plate Work Boiler Shops

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