Chart Industries (GTLS) Tops Q3 EPS by 24c, Revenues Miss; Boosts FY18 EPS Guidance, Offers 'First Look' at FY19 Revenue Guidance

Chart Industries (NASDAQ: GTLS) reported Q3 EPS of $0.74, $0.24 better than the analyst estimate of $0.50. Revenue for the quarter came in at $272.2 million versus the consensus estimate of $299.5 million.

• Realigned segmentation to support the announced acquisition of VRV, s.p.a. and its subsidiaries (collectively “VRV”), and divestiture of CAIRE Medical, the oxygen-related products from within the former BioMedical segment.
• Orders of $264 million grew 21% (3% organically) over the third quarter of 2017 on a continuing operations basis driven by a 28% increase in orders in D&S Eastern Hemisphere, reflecting strength in trailers and standard tanks in the region.
• Sales of $272 million grew 34% (16%) organically over the third quarter of 2017, on a continuing operations basis.
• Reported EPS from continuing operations of $0.65 excludes $0.02 of reported EPS from discontinued operations. Adjusted EPS from continuing operations of $0.74 reflects continued margin expansion execution and early 80/20 wins.
• Increased full year adjusted EPS guidance range to $1.90 to $2.00 on a continuing operations basis.
• First look at 2019 guidance of revenue of $1.24 to $1.30 billion (16% to 18% growth or 6 to 7% organic growth) and adjusted EPS of $2.40 to $2.75 (assuming closure of VRV and CAIRE deals by the end of the fourth quarter of 2018, and no large LNG project revenue).

GUIDANCE:

Chart Industries sees FY2018 EPS of $1.90-$2.00, versus the consensus of $1.90.

Chart Industries sees FY2019 revenue of $1.24-1.3 billion, versus the consensus of $1.29 billion.

For earnings history and earnings-related data on Chart Industries (GTLS) click here.

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