Chart Industries Q1 Results Miss Estimates; Sees Annual Earnings Above View

(RTTNews) - Chart Industries, Inc. (GTLS), a manufacturer of engineered equipment, Friday reported net income from continuing operations of $6.7 million or $0.14 per share for the first quarter compared with net loss of $22.7 million or $0.54 per share in the same quarter a year ago, mainly helped by growth in revenue. However, earnings as well as revenue were below the Street expectations.

Excluding one-time items, the company posted adjusted earnings of $1.49 per share, up from $1.38 per share last year, but missed the average estimate of analysts polled by Thomson-Reuters of $1.55 per share. Analysts' estimates typically exclude special items.

Revenue for the quarter increased to $950.7 million from $531.5 million in the previous year. The consensus estimate was for $972.88 million.

Looking ahead, Chart Industries still expects full-year sales to be in the range of $4.7 billion to $5.0 billion. Adjusted EPS for the year is expected between $12.00 and $14.00.

Analysts expect the company to report earnings of $10.56 per share on revenue of $4.67 billion for the year.