Record Orders and Strong Guidance Propel Chart Industries to 22.4% Surge in February
Chart Industries: Record Orders & Future Growth Potential in Energy Transition Market
Strong guidance during its February earnings release sent the beaten-down energy-transition stock higher last month. Shares of Chart Industries (NYSE: GTLS) rose 22.4% in the month of February, according to data from S&P Global Market Intelligence.
Chart scores record orders and backlog
During the quarter, Chart recorded its first $1 billion quarter ever, with $1.02 billion in revenue and $2.25 in adjusted (non-GAAP) earnings per share (EPS). While those profit figures beat expectations, revenue actually came in a little bit lighter than analysts' forecasts.
- Orders: $1.21 billion, 20% higher than headline revenue
- Guidance: Targeting $12-14 in adjusted EPS for 2024, over 100% higher than 2023
- Valuation: Very cheap at $140 per share for a company with strong growth prospects
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