Chart Industries (GTLS) Gains after Easily Topping Q2 Views

Before the open, Chart Industries (NASDAQ: GTLS) reported Q2 EPS of $0.60, $0.48 better than the analyst estimate of $0.12. Revenue for the quarter came in at $247.1 million versus the consensus estimate of $222.95 million.

Shares are up 8%.

“We delivered better than anticipated results in our Energy & Chemicals (“E&C”) segment through solid project execution, several short lead-time replacement equipment opportunities supported by our newly created LifeCycle aftermarket service offering, and contract expiration fees related to project development, which highlight our unique capabilities and competitive strengths. The short lead-time shipments were a record in the quarter and eclipsed the prior record set in the fourth quarter of 2015," stated Sam Thomas, Chart’s Chairman and Chief Executive Officer.

Mr. Thomas added, “We are focused on our working capital initiatives and are making good headway as we delivered another consecutive quarter with strong operating cash flow, despite continued weakness in energy markets. Our geographic and product diversification highlights further advantages to support continued cash flow generation. In July 2016, Bill Johnson joined us as President and COO, bringing operational and strategic talent that will help further these initiatives.”

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

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