Fri, Feb 28, 9:18 PM (58 days ago)
**Chart Industries, Inc. (GTLS) 2024 Financial Summary** For the fiscal year ended December 31, 2024, Chart Industries, Inc. reported robust financial performance with consolidated sales of $4,160.3 million, up 24.1% from $3,352.5 million in 2023. The net income attributable to the company surged to $218.5 million, compared to $47.3 million in the prior year, driven by operational synergies from the Howden acquisition and improved margins across segments. Operating expenses were effectively managed, leading to an operating margin increase to 15.6% from 11.7%. The gross profit margin also improved to 33.4%, reflecting better cost management and a favorable sales mix. Chart's strategic overview includes a focus on clean energy technologies, with significant investments in liquefied natural gas (LNG) and hydrogen solutions. The acquisition of Howden for $4.4 billion has further solidified its market position. Key risk factors include cyclical demand, dependency on major customers, and economic uncertainties due to geopolitical tensions. The company maintains a healthy financial condition with total assets of $9,123.9 million and total liabilities of $6,128.7 million. Looking ahead, Chart anticipates continued growth driven by strong backlog levels of $4,845.1 million and strategic initiatives in the clean energy sector.