secwatch.observer — SEC 8-K summary
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Issuer:     CHART INDUSTRIES INC (GTLS)
CIK:        0000892553
Form:       8-K
Filed at:   2024-08-02T23:59:59+00:00
Accession:  0000892553-24-000132
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Chart Industries reports record Q2 but cuts FY2024 guidance on timing and FX headwinds
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- Record Q2 sales of $1.04B (+18.8% YoY); adjusted EPS $2.18 vs. $2.08 consensus estimate.
- FY2024 guidance cut: sales $4.45-4.6B (prev $4.7-5.0B), adj. EBITDA $1.08-1.15B (prev $1.175-1.30B), adj. EPS $10.75-11.75 (prev $12.00-14.00).
- Record gross margin 33.8% (+310 bps YoY); adjusted EBITDA margin 24.7% (+37.2% YoY).
- Net leverage 3.26, down 0.82 since Howden close; commercial synergies $924M well above $350M year-three target.
- Q2 free cash flow $88M vs $175M outlook due to emergency field service work and customer timing; FY FCF guidance $400-475M (prev $575-625M).

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/892553/000089255324000132/0000892553-24-000132-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/892553/000089255324000132/gtls-20240802.htm
  HTML page:      https://secwatch.observer/filing/0000892553-24-000132

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer