Chart Industries Q2 2024 Sales Top $1.7B

TL;DR

**CHART Q2 SALES HIT $1.7B** - Mid-year financials show solid revenue.

AI Summary

Chart Industries Inc. reported its second quarter 2024 results, with net sales for the six months ended June 30, 2024, reaching $1.703 billion. The company's fiscal year ends on December 31st, and this filing covers the period up to June 30, 2024. The company is based in Ball Ground, Georgia.

Why It Matters

This filing provides investors with a mid-year financial snapshot of Chart Industries, detailing sales performance and key financial metrics for the first half of 2024.

Risk Assessment

Risk Level: medium — The filing is a standard quarterly report, but the nature of industrial manufacturing can be subject to economic cycles and supply chain disruptions.

Key Numbers

• $1.703B — Net Sales (6 months ended 06/30/2024) (Represents the total revenue generated by Chart Industries in the first half of 2024.)
• 20240630 — Reporting Period End Date (Indicates the end of the fiscal quarter and year-to-date period covered by the report.)
• 20240802 — Filing Date (The date the 10-Q report was officially submitted to the SEC.)

Key Players & Entities

• Chart Industries Inc. (company) — Filer of the 10-Q report.
• 20240630 (date) — End of the reporting period for the 10-Q.
• $1.703 billion (dollar_amount) — Net sales for the six months ended June 30, 2024.
• Ball Ground, Georgia (location) — Location of Chart Industries' business and mailing address.

FAQ

Key Financial Figures

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

Filing Documents

• gtls-20240630.htm (10-Q) — 2363KB
• gtls-20240630x10qexx311.htm (EX-31.1) — 10KB
• gtls-20240630x10qexx312.htm (EX-31.2) — 10KB
• gtls-20240630x10qexx321.htm (EX-32.1) — 6KB
• gtls-20240630x10qexx322.htm (EX-32.2) — 6KB
• 0000892553-24-000135.txt ( ) — 12662KB
• gtls-20240630.xsd (EX-101.SCH) — 78KB
• gtls-20240630_cal.xml (EX-101.CAL) — 154KB
• gtls-20240630_def.xml (EX-101.DEF) — 426KB
• gtls-20240630_lab.xml (EX-101.LAB) — 840KB
• gtls-20240630_pre.xml (EX-101.PRE) — 668KB
• gtls-20240630_htm.xml (XML) — 2374KB

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 Income (Loss) 5 Condensed Consolidated Statements of Cash Flows 7 Condensed Consolidated Statements of Equity 9 Notes to the Unaudited Condensed Consolidated Financial Statements 11

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 39

Quantitative and Qualitative Disclosures About Market Risk

Item 3. Quantitative and Qualitative Disclosures About Market Risk 54

Controls and Procedures

Item 4. Controls and Procedures 55

Other Information

Part II. Other Information

Legal Proceedings

Item 1. Legal Proceedings 57

Risk Factors

Item 1A. Risk Factors 57

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 57

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 57

Exhibits

Item 6. Exhibits 58

Signatures

Signatures 59 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) June 30, 2024 December 31, 2023 ASSETS Current Assets Cash and cash equivalents $ 247.4 $ 188.3 Accounts receivable, less allowances of $ 5.1 and $ 5.9 , respectively 748.5 758.9 Inventories, net 554.6 576.3 Unbilled contract revenue 661.4 481.7 Prepaid expenses 101.4 74.9 Other current assets 131.4 134.3 Total Current Assets 2,444.7 2,214.4 Property, plant, and equipment, net 872.9 837.6 Goodwill 2,929.6 2,906.8 Identifiable intangible assets, net 2,645.4 2,791.9 Equity method investments 104.6 109.9 Investments in equity securities 102.0 91.2 Other assets 178.3 150.6 TOTAL ASSETS $ 9,277.5 $ 9,102.4 LIABILITIES AND EQUITY Current Liabilities Accounts payable $ 906.3 $ 811.0 Customer advances and billings in excess of contract revenue 378.1 376.6 Accrued salaries, wages, and benefits 65.5 81.5 Accrued interest 91.4 92.5 Accrued income taxes 39.2 60.0 Current portion of warranty reserve 26.7 29.4 Current portion of long-term debt 259.8 258.5 Operating lease liabilities, current 18.6 18.5 Other current liabilities 140.6 138.2 Total Current Liabilities 1,926.2 1,866.2 Long-term debt 3,729.0 3,576.4 Long-term deferred tax liabilities 569.5 568.2 Accrued pension liabilities 6.7 6.7 Operating lease liabilities, non-current 50.1 50.7 Other long-term liabilities 86.9 95.2 Total Liabilities 6,368.4 6,163.4 3 Table of Contents June 30, 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 June 30, 2024 and December 31, 2023 — — Common stock, par value $ 0.01 per share — 150,000,000 shares authorized, 42,804,031 and 42,754,241 shares issued and outstanding at June 30, 2024 and December 31, 2023, respectively 0.4 0.4 Addi

View Full Filing

View this 10-Q filing on SEC EDGAR