Chart Industries, Inc. Files 10-Q for Period Ending March 31, 2024

TL;DR

<b>Chart Industries, Inc. has filed its Q1 2024 10-Q report.</b>

AI Summary

CHART INDUSTRIES INC (GTLS) filed a Quarterly Report (10-Q) with the SEC on May 3, 2024. Chart Industries, Inc. filed a 10-Q report for the period ending March 31, 2024. The filing covers the first quarter of fiscal year 2024. The company's fiscal year ends on December 31st. Chart Industries is incorporated in Delaware. The company's business address is in Ball Ground, Georgia.

Why It Matters

For investors and stakeholders tracking CHART INDUSTRIES INC, this filing contains several important signals. This 10-Q filing provides an update on Chart Industries' financial performance and position for the first quarter of 2024. Investors and analysts can use this report to assess the company's operational status, financial health, and any material changes since the last filing.

Risk Assessment

Risk Level: low — CHART INDUSTRIES INC shows low risk based on this filing. The filing is a standard quarterly report (10-Q) and does not contain immediate red flags or significant negative developments.

Analyst Insight

Review the detailed financial statements and management discussion within the 10-Q to understand the company's performance drivers and outlook.

Key Numbers

• 2024-03-31 — Period End Date (Conformed Period of Report)
• 2024-05-03 — Filing Date (Filed as of Date)
• 1231 — Fiscal Year End (Fiscal Year End)
• 3443 — SIC Code (Standard Industrial Classification)

Key Players & Entities

• CHART INDUSTRIES INC (company) — Filer name
• GTLS (company) — Ticker symbol
• 2024-03-31 (date) — Period of report
• 2024-05-03 (date) — Filing date
• Ball Ground, GA (location) — Business address city and state

FAQ

Industry Context

Chart Industries operates in the fabricated plate work (boiler shops) industry, classified under SIC code 3443.

Regulatory Implications

The filing is a standard 10-Q, adhering to the reporting requirements of the Securities Exchange Act of 1934.

What Investors Should Do

1. Analyze the financial statements for revenue, net income, and cash flow.
2. Review management's discussion and analysis for insights into operational performance.
3. Compare key metrics to previous periods and industry benchmarks.

Key Dates

• 2024-03-31: Quarterly Period End — End of the reporting period for the 10-Q filing.
• 2024-05-03: Filing Date — Date the 10-Q report was officially filed with the SEC.

Year-Over-Year Comparison

This is the initial 10-Q filing for the fiscal year 2024, following the 2023 annual report.

Key Financial Figures

• $0.01 — ich registered Common Stock, par value $0.01 GTLS New York Stock Exchange Depositar

Filing Documents

• gtls-20240331.htm (10-Q) — 1762KB
• gtls-20240331x10qexx311.htm (EX-31.1) — 10KB
• gtls-20240331x10qexx312.htm (EX-31.2) — 10KB
• gtls-20240331x10qexx321.htm (EX-32.1) — 6KB
• gtls-20240331x10qexx322.htm (EX-32.2) — 6KB
• 0000892553-24-000096.txt (&nbsp;) — 11100KB
• gtls-20240331.xsd (EX-101.SCH) — 78KB
• gtls-20240331_cal.xml (EX-101.CAL) — 152KB
• gtls-20240331_def.xml (EX-101.DEF) — 418KB
• gtls-20240331_lab.xml (EX-101.LAB) — 840KB
• gtls-20240331_pre.xml (EX-101.PRE) — 667KB
• gtls-20240331_htm.xml (XML) — 1912KB

Financial Information

Part I. Financial Information

Financial Statements

Item 1. Financial Statements Page Condensed Consolidated Balance Sheets 3 Condensed Consolidated Statements of Operations and Comprehensive Loss 5 Condensed Consolidated Statements of Cash Flows 7 Condensed Consolidated Statements of Equity 9 Notes to the Unaudited Condensed Consolidated Financial Statements 10

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 36

Quantitative and Qualitative Disclosures About Market Risk

Item 3. Quantitative and Qualitative Disclosures About Market Risk 46

Controls and Procedures

Item 4. Controls and Procedures 47

Other Information

Part II. Other Information

Legal Proceedings

Item 1. Legal Proceedings 49

Risk Factors

Item 1A. Risk Factors 49

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 49

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 49

Exhibits

Item 6. Exhibits 50

Signatures

Signatures 51 2 Table of Contents

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements CHART INDUSTRIES, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) (Dollars in millions, except per share amounts) March 31, 2024 December 31, 2023 ASSETS Current Assets Cash and cash equivalents $ 191.9 $ 188.3 Accounts receivable, less allowances of $ 5.5 and $ 5.9 , respectively 799.6 758.9 Inventories, net 572.3 576.3 Unbilled contract revenue 553.6 481.7 Prepaid expenses 121.0 74.9 Other current assets 132.9 134.3 Total Current Assets 2,371.3 2,214.4 Property, plant, and equipment, net 850.3 837.6 Goodwill 2,948.8 2,906.8 Identifiable intangible assets, net 2,711.3 2,791.9 Equity method investments 106.7 109.9 Investments in equity securities 95.3 91.2 Other assets 164.2 150.6 TOTAL ASSETS $ 9,247.9 $ 9,102.4 LIABILITIES AND EQUITY Current Liabilities Accounts payable $ 868.8 $ 811.0 Customer advances and billings in excess of contract revenue 389.8 376.6 Accrued salaries, wages, and benefits 67.1 81.5 Accrued interest 53.3 92.5 Accrued income taxes 52.6 60.0 Current portion of warranty reserve 31.1 29.4 Current portion of long-term debt 259.9 258.5 Operating lease liabilities, current 18.9 18.5 Other current liabilities 152.2 138.2 Total Current Liabilities 1,893.7 1,866.2 Long-term debt 3,731.8 3,576.4 Long-term deferred tax liabilities 573.1 568.2 Accrued pension liabilities 6.7 6.7 Operating lease liabilities, non-current 52.1 50.7 Other long-term liabilities 96.2 95.2 Total Liabilities 6,353.6 6,163.4 3 Table of Contents March 31, 2024 December 31, 2023 Equity Preferred stock, par value $ 0.01 per share, $ 1,000 aggregate liquidation preference — 10,000,000 shares authorized, 402,500 shares issued and outstanding at both March 31, 2024 and December 31, 2023 — — Common stock, par value $ 0.01 per share — 150,000,000 shares authorized, 42,799,791 and 42,754,241 shares issued and outstanding at March 31, 2024 and December 31, 2023, respectively 0.4 0.4 A

View Full Filing

View this 10-Q filing on SEC EDGAR