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February 28, 2013
13:11 EDTGTLSChart Industries higher after Q4 earnings results beat estimates
Chart Industries (GTLS) shares are trading higher today after reporting Q4 results earlier this morning. Chart Industries manufactures and supplies engineered equipment used in the production, storage, and end-use of hydrocarbon and industrial gases globally. The company reported Q4 EPS of 80c against consensus estimates of 76c on revenue of $303.9M against consensus estimates of $277.59M. The company also provided adjusted FY13 EPS guidance of $3.00-$3.40 against consensus estimates of $3.53 on revenue of $1.2B-1.3B against consensus estimates of $1.19B. The CEO, Samuel F. Thomas, cited significant improvement in capacity and lead times in distribution & storage in the liquefied natural gas, LNG, business. "These initiatives are enabling Chart to meet rising customer demand and uphold our status as a leading worldwide supplier to the energy, industrial gas, and biomedical industries, especially in high-growth energy markets such as the build-out of LNG infrastructure," Thomas said, also adding that he sees bottlenecks that are holding up LNG infrastructure build-out in USA are likely to be resolved in the coming year. In midday trading, Chart Industries (GTLS) shares have risen 9.5% to $71.75.
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