Chart Industries Q3 2024 Update
Ticker: GTLS · Form: 10-Q · Filed: Nov 1, 2024 · CIK: 892553
| Field | Detail |
|---|---|
| Company | Chart Industries INC (GTLS) |
| Form Type | 10-Q |
| Filed Date | Nov 1, 2024 |
| Risk Level | medium |
| Pages | 17 |
| Reading Time | 20 min |
| Key Dollar Amounts | $0.01 |
| Sentiment | neutral |
Sentiment: neutral
Topics: 10-Q, financials, quarterly-report
TL;DR
**CHART INDUSTRIES Q3 2024 REPORT FILED: FINANCIALS DETAILED.**
AI Summary
Chart Industries Inc. reported its third-quarter results for the period ending September 30, 2024. The company's filing details its financial position and operational performance, including information on its common stock and convertible preferred stock. Specific financial figures and operational metrics are provided within the report.
Why It Matters
This 10-Q filing provides investors with a detailed look at Chart Industries' financial health and performance for the third quarter of 2024, influencing investment decisions.
Risk Assessment
Risk Level: medium — The filing is a standard quarterly report, but the complexity of financial data and potential market reactions to reported numbers introduce medium risk.
Key Numbers
- 2024 Q3 — Reporting Period (Indicates the specific quarter being reported on.)
- 2024-09-30 — As of Date (The end date for the financial reporting period.)
- 2023-12-31 — Previous Year End (Provides a comparison point to the previous fiscal year-end.)
Key Players & Entities
- Chart Industries Inc. (company) — Filer of the 10-Q report
- 20240930 (date) — Conformed period of report
- 20241101 (date) — Filing date
- 0.0170285 (dollar_amount) — Value related to common stock
- 0.05 (dollar_amount) — Value related to common stock
FAQ
What is the reporting period for this 10-Q filing?
The conformed period of report is 20240930, indicating the third quarter of 2024.
When was this 10-Q filing submitted to the SEC?
The filing was submitted on 20241101.
What is the company's primary business classification?
The company is classified under 'FABRICATED PLATE WORK (BOILER SHOPS)' with SIC code [3443].
What are the reported values related to common stock?
The filing mentions values of 0.0170285 and 0.05 related to common stock.
What is the fiscal year end for Chart Industries Inc.?
The fiscal year end for Chart Industries Inc. is 1231.
Filing Stats: 4,967 words · 20 min read · ~17 pages · Grade level 6.7 · Accepted 2024-11-01 16:44:10
Key Financial Figures
- $0.01 — ich registered Common Stock, par value $0.01 GTLS New York Stock Exchange Depositar
Filing Documents
- gtls-20240930.htm (10-Q) — 2424KB
- gtls-20240930x10qexx311.htm (EX-31.1) — 10KB
- gtls-20240930x10qexx312.htm (EX-31.2) — 10KB
- gtls-20240930x10qexx321.htm (EX-32.1) — 6KB
- gtls-20240930x10qexx322.htm (EX-32.2) — 6KB
- 0000892553-24-000174.txt ( ) — 12867KB
- gtls-20240930.xsd (EX-101.SCH) — 77KB
- gtls-20240930_cal.xml (EX-101.CAL) — 154KB
- gtls-20240930_def.xml (EX-101.DEF) — 419KB
- gtls-20240930_lab.xml (EX-101.LAB) — 917KB
- gtls-20240930_pre.xml (EX-101.PRE) — 710KB
- gtls-20240930_htm.xml (XML) — 2358KB
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 12
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 40
Quantitative and Qualitative Disclosures About Market Risk
Item 3. Quantitative and Qualitative Disclosures About Market Risk 55
Controls and Procedures
Item 4. Controls and Procedures 56
Other Information
Part II. Other Information
Legal Proceedings
Item 1. Legal Proceedings 58
Risk Factors
Item 1A. Risk Factors 58
Unregistered Sales of Equity Securities and Use of Proceeds
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 58
Mine Safety Disclosures
Item 4. Mine Safety Disclosures 58
Other Information
Item 5. Other Information 58
Exhibits
Item 6. Exhibits 59
Signatures
Signatures 60 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) September 30, 2024 December 31, 2023 ASSETS Current Assets Cash and cash equivalents $ 310.2 $ 188.3 Accounts receivable, less allowances of $ 5.2 and $ 5.9 , respectively 805.6 758.9 Inventories, net 539.4 576.3 Unbilled contract revenue 680.2 481.7 Prepaid expenses 98.8 74.9 Other current assets 114.1 134.3 Total Current Assets 2,548.3 2,214.4 Property, plant, and equipment, net 888.8 837.6 Goodwill 2,987.7 2,906.8 Identifiable intangible assets, net 2,660.4 2,791.9 Equity method investments 103.9 109.9 Investments in equity securities 116.2 91.2 Other assets 193.1 150.6 TOTAL ASSETS $ 9,498.4 $ 9,102.4 LIABILITIES AND EQUITY Current Liabilities Accounts payable $ 1,010.1 $ 811.0 Customer advances and billings in excess of contract revenue 366.0 376.6 Accrued salaries, wages, and benefits 66.0 81.5 Accrued interest 74.4 92.5 Accrued income taxes 54.4 60.0 Current portion of warranty reserve 17.5 29.4 Current portion of long-term debt 260.7 258.5 Operating lease liabilities, current 20.4 18.5 Other current liabilities 132.9 138.2 Total Current Liabilities 2,002.4 1,866.2 Long-term debt 3,623.9 3,576.4 Deferred tax liabilities 571.8 568.2 Accrued pension liabilities 7.1 6.7 Operating lease liabilities, non-current 61.7 50.7 Other long-term liabilities 96.1 95.2 Total Liabilities 6,363.0 6,163.4 3 Table of Contents September 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 September 30, 2024 and December 31, 2023 — — Common stock, par value $ 0.01 per share — 150,000,000 shares authorized, 42,809,385 and 42,754,241 shares issued and outstanding at September 30, 2024 and December 31, 2023, respectively 0.