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Chart (GTLS) Reports Q3: Everything You Need To Know Ahead Of Earnings

GTLS Cover Image

Gas handling company Chart (NYSE:GTLS) will be announcing earnings results tomorrow before market hours. Here’s what to expect.

Chart missed analysts’ revenue expectations by 6.3% last quarter, reporting revenues of $1.04 billion, up 14.6% year on year. It was a slower quarter for the company, with a miss of analysts’ EBITDA and earnings estimates.

Is Chart a buy or sell going into earnings? Read our full analysis here, it’s free.

This quarter, analysts are expecting Chart’s revenue to grow 21.7% year on year to $1.09 billion, slowing from the 118% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $2.48 per share.

Chart Total Revenue

Heading into earnings, analysts covering the company have grown increasingly bearish with revenue estimates seeing 11 downward revisions over the last 30 days (we track 15 analysts).

Looking at Chart’s peers in the gas and liquid handling segment, some have already reported their Q3 results, giving us a hint as to what we can expect. SPX Technologies delivered year-on-year revenue growth of 7.8%, missing analysts’ expectations by 3.2%, and ITT reported revenues up 7.7%, in line with consensus estimates. ITT’s stock price was unchanged following the results.

Read our full analysis of SPX Technologies’s results here and ITT’s results here.

Investors in the gas and liquid handling segment have had steady hands going into earnings, with share prices flat over the last month. Chart is up 2.5% during the same time and is heading into earnings with an average analyst price target of $183.91 (compared to the current share price of $122.78).

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