Why Chart Industries Shares Are Rising Today
Portfolio Pulse from Akanksha Bakshi
Chart Industries, Inc. (NYSE:GTLS) reported Q2 FY23 sales growth of 10.3% YoY to $908.1 million, missing the consensus of $971.81 million. Adjusted EPS was $1.19, beating the consensus of $0.93. The company's Q2 results reflect the first full quarter of ownership of Howden. The company agreed to sell Comco fans business to PX3 Partners for $80 million and a French product line for €4.25 million. GTLS anticipates generating ~$500 million from divestitures, including the $380 million from the announced Roots and Comco divestitures. GTLS shares traded higher by 8.26% at $171.68 on the last check Friday.
July 28, 2023 | 2:58 pm
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Chart Industries reported Q2 FY23 sales growth but missed consensus. It beat the consensus on adjusted EPS. The company sold its Comco fans business and a French product line. GTLS shares traded higher.
The company's Q2 results show growth but missed the consensus, which could have a negative impact. However, the adjusted EPS beat the consensus, which is positive. The company also made significant sales of its businesses, which could provide a cash influx. The stock price increased, indicating a positive market reaction.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100