Chart Industries Reports Second Quarter 2025 Financial Results

Chart Industries, Inc., a global leader in the design, engineering, and manufacturing of process technologies and equipment for gas and liquid molecule handling, has released its financial results for the second quarter of 2025. The report highlights significant growth in orders and sales, alongside strategic corporate developments.

Financial Highlights

For the second quarter of 2025, Chart Industries reported:

• Orders of $1.50 billion, marking a 28.6% increase compared to the same period in 2024.
• Sales of $1.08 billion, a 4.0% increase year-over-year.
• Gross profit margin of 33.6%, a slight decrease of 20 basis points from the previous year.
• Reported operating income of $169.5 million, which adjusts to $228.1 million when accounting for step-up amortization related to the Howden acquisition.
• EBITDA of $245.1 million, adjusting to $267.3 million when excluding deal-related and restructuring costs.
• Reported diluted earnings per share (EPS) of $1.53, which adjusts to $2.59, reflecting an 18.8% increase.
• Free cash flow (FCF) of $124.0 million, a 40.9% increase from the previous year.

Business and Operational Highlights

The company saw broad-based order growth across its segments, with notable increases in hydrogen, LNG, space exploration, marine, nuclear, trailers, and air-cooled heat exchangers. The Repair, Service, and Leasing (RSL) segment experienced record service orders, driven by increased demand for process technologies and full solutions.

Sales in the second quarter of 2025 grew by 4.0%, with significant contributions from space exploration (up 60.7%), hydrogen (up 29.3%), and LNG within the Heat Transfer Systems (HTS) segment (up 37.6%).

Strategic Initiatives and Corporate Developments

Chart Industries announced a five-year framework agreement with a South African utility and additional orders in space exploration and marine sectors. The company also executed a framework agreement with Linde for air coolers used in air separation plants. As of July 2025, the commercial pipeline not yet in backlog exceeds $24 billion, the highest in the company's history.

Due to the proposed acquisition of Chart by Baker Hughes, the company has withdrawn its 2025 guidance and canceled its second quarter 2025 earnings call.

Management's Perspective

Jill Evanko, CEO and President of Chart Industries, commented, "We booked $1.50 billion of orders in the second quarter 2025, demonstrating continued strength in our end markets. Our sales in solutions and aftermarket and our team’s continuous improvement efforts contributed to our adjusted operating income margin of 21.1% and our fifth consecutive quarter of gross margin as a percent of sales above 33.0%."

Future Outlook

Given the proposed acquisition by Baker Hughes, Chart Industries has withdrawn its 2025 guidance and will not be hosting a webcast or conference call to discuss the results.

SEC Filing: CHART INDUSTRIES INC [ GTLS ] - 8-K - Jul. 29, 2025