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Chart Industries Schedules First Quarter 2023 Earnings Release and Conference Call; Announces First Quarter 2023 Ending Record Backlog for Chart and Howden Standalone

Chart Industries, Inc.
Chart Industries, Inc.

ATLANTA, April 11, 2023 (GLOBE NEWSWIRE) -- Chart Industries, Inc. (NYSE: GTLS) (“Chart”), a global leader in design, engineering, and manufacturing of process technology and equipment for clean energy, industrial gas, and diversified specialty markets, has scheduled a conference call for Friday, April 28, 2023 at 8:30 a.m. ET to discuss its first quarter 2023 financial results. Chart plans to issue its first quarter 2023 earnings release prior to market open on April 28th.

Chart experienced strong first quarter 2023 demand including reported first quarter 2023 orders of approximately $740 million inclusive of Chart’s ownership period for Howden (March 17, 2023 to March 31, 2023). Further, Chart reported record first quarter 2023 ending backlog which is reflective of record first quarter ending backlog for both Chart standalone and Howden standalone. On April 28, 2023, Chart will provide additional details around first quarter 2023 performance, synergy realization, its forward outlook, and debt reduction progress. Additional information, including cost and commercial synergies update, can be found in Chart’s Form 8-K and related exhibit filed with the SEC on April 11, 2023.

A live webcast and replay will be available on the Company's investor relations website, ir.chartindustries.com.

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Participants wishing to join the live Q&A session may request a conference call dial-in number by registering in advance using the following registration link.

Forward-Looking Statements

Certain statements made in this investor presentation are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements concerning Chart’s business plans, including statements regarding objectives, future orders, revenues, margins, earnings, performance or outlook, business or industry trends and other information that is not historical in nature. Forward-looking statements may be identified by terminology such as “may,” “will,” “should,” “could,” “expects,” “anticipates,” “believes,” “projects,” “forecasts,” “indicators”, “outlook,” “guidance,” “continue,” “target,” or the negative of such terms or comparable terminology.

Forward-looking statements contained in this presentation or in other statements made by Chart are made based on management’s expectations and beliefs concerning future events impacting Chart and are subject to uncertainties and factors relating to Chart’s operations and business environment, all of which are difficult to predict and many of which are beyond Chart’s control, that could cause Chart’s actual results to differ materially from those matters expressed or implied by forward-looking statements. Factors that could cause Chart’s actual results to differ materially from those described in the forward-looking statements include: Chart may be unable to achieve the anticipated benefits of the acquisition of Howden (the “Acquisition”) (including with respect to estimated future cost synergies); revenues following the Acquisition may be lower than expected; operating costs, customer losses, and business disruption (including, without limitation, difficulties in maintaining relationships with employees, customers and suppliers) resulting from the Acquisition may be greater than expected; our ability to successfully close on our intention to divest two product lines and achieve the anticipated proceeds from those divestitures; slower than anticipated growth and market acceptance of new clean energy product offerings; inability to achieve expected pricing increases or continued supply chain challenges including volatility in raw materials and supply; risks relating to the conflict between Russia and Ukraine, including potential energy shortages in Europe and elsewhere and the other factors discussed in Item 1A (Risk Factors) in Chart’s most recent Annual Report on Form 10-K filed with the SEC, which should be reviewed carefully.  Chart undertakes no obligation to update or revise any forward-looking statement.

Use of Non-GAAP Financial Information

This presentation contains non-GAAP financial information, including estimated future cost synergies, commercial synergies, and adjusted EBITDA as a result of the Acquisition. Chart believes these forward-looking non-GAAP measures are of interest to investors and facilitate useful illustrations of Chart’s estimated future financial results, and this information is used by Chart in evaluating internal performance. With respect to Chart’s estimated future financial results, Chart is not able to provide a reconciliation of each non-GAAP financial measure presented because certain items may have not yet occurred or are out of Chart’s control and/or cannot be reasonably predicted, and therefore such reconciliations are not available without unreasonable efforts.

About Chart

Chart is a leading diversified global manufacturer of highly engineered equipment servicing multiple market applications in Energy and Industrial Gas. The majority of Chart's products are used throughout the liquid gas supply chain for purification, liquefaction, distribution, storage and end-use applications, a large portion of which are energy-related. Chart has domestic operations located across the United States and an international presence in Asia, Australia, Europe and the Americas. For more information, visit: http://www.chartindustries.com

Investor Contact:

John Walsh
VP, Investor Relations
770-721-8899
john.walsh@chartindustries.com