Chart Industries Inc

Latest Results (16.11.2025):

Chart Industries Inc reported its third quarter 2025 financial results, highlighting robust order growth and improvements in margin performance amid a complex deal environment. The company recorded record orders of $1.68 billion (up 43.9% year-over-year) and sales of $1.10 billion (up 3.6%), alongside significant adjusted operating income and EBITDA improvements after accounting for deal-related costs. The results were further complemented by strong segment performance and a solid free cash flow of $94.7 million, even as merger-related activities with Baker Hughes and the terminated proposed merger with Flowserve impacted reported figures.

Record Orders Growth

Chart Industries Inc achieved record third quarter 2025 orders of $1.68 billion, a 43.9% increase from Q3 2024. This order momentum was driven by strength in LNG, data centers, and other key end markets, marking the third consecutive quarter of sequential orders growth.

Sales & Margin Summary

Sales reached $1.10 billion with a modest 3.6% increase, while the gross profit margin remained at a record 34.1% of sales. Adjusted operating income margin improved to 22.9% after excluding related deal, merger, and restructuring costs, highlighting enhanced operational efficiency.

Segment Highlights

The report detailed varied performance across segments. Heat Transfer Systems posted a 79.1% increase in orders and a 36.3% sales growth, Specialty Products saw orders grow 84.4% though sales slightly dipped by 4.7% due to timing factors, and the Cryo Tank Solutions as well as Repair, Service and Leasing segments experienced mixed results reflecting market and customer dynamics.

Merger & Acquisition Update

In a significant strategic move during Q3 2025, Chart Industries Inc entered a definitive agreement with Baker Hughes for a proposed acquisition at $210 per share in cash. Additionally, the quarter included a $266 million termination fee expense related to the previously proposed Flowserve merger, with $258 million paid by Baker Hughes and a corresponding liability recorded under U.S. GAAP.

Cash Flow & Financial Strength

The company delivered $94.7 million in free cash flow, derived from $118.0 million in net cash provided by operating activities after capital expenditures of $23.3 million. Moreover, the net leverage ratio improved to 2.78, marking the lowest level since the Howden acquisition, supporting a strengthened balance sheet.