Chart Industries Slips On Earnings Miss, Lower Outlook

(RTTNews) - Shares of engineered equipment maker for the energy and industrial gas industries, Chart Industries, Inc. (GTLS) are falling more than 8% Thursday morning after reporting third-quarter results that missed analysts' view. The company also lowered its full-year outlook.

Income from continuing operations in the third quarter was $15.6 mullion or $0.36 per share compared with $15.8 million or $0.43 per share in the same quarter a year ago.

Excluding items, adjusted earnings were $0.55 per share, that missed the average estimate of 19 analysts polled by Thomson Reuters at $0.84 per share.

The company reported sales of $328.3 million, that missed the consensus estimate of $348.21 million.

Looking forward, the company has lowered its full-year revenue outlook to $1.31 billion- $1.33 billion from prior guidance of $1.38 billion to $1.43 billion, driven by project specific sales timing shifts into 2022.

Chart Industries currently sees adjusted non-diluted EPS in the range of $2.75 to $3.10 in the full year.

Analysts expect the company to report earnings of $3.78 per share on revenue of $1.39 billion for the period.

GTLS, currently at $166.24, has traded in the range of $80- $206.29 in the past 52 weeks.