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ATLANTA - Chart Industries, Inc. (NYSE: GTLS), a $5.1 billion market cap company specializing in gas processing technologies, has been selected by Blue Spruce Operating LLC to supply a Nitrogen Rejection Unit (NRU) and helium processing technology for the Dry Piney Helium and Carbon Sequestration Project in Sublette County, WY. This collaboration marks a significant step for Blue Spruce Operating in their endeavor to become a notable provider of bulk liquid helium and natural gas in the western United States. According to InvestingPro data, Chart Industries demonstrates strong financial health with a perfect Piotroski Score of 9 and impressive revenue growth of 24.1% over the last twelve months.
The Dry Piney Project, once operational, is expected to yield over 800 million cubic feet per year of bulk liquid helium and approximately 80 million cubic feet per day of natural gas. Additionally, it aims to sequester up to 4.5 million metric tons of CO2 annually through two separate gas processing trains.
Chart’s CEO and President, Jill Evanko, expressed confidence in delivering the project within the next two years and providing long-term operational support. Blue Spruce Operating is progressing towards a final investment decision following the completion of the front-end engineering and design phase for the NRU and helium plant packages. With annual revenue reaching $4.16 billion and a robust current ratio of 1.38, InvestingPro analysis suggests Chart Industries has the financial strength to execute such major projects effectively. Subscribers can access 12 additional ProTips and comprehensive financial metrics on the platform.
Brad Gentry, Vice President – Midstream, underscored the importance of Chart’s cryogenic processing expertise for the separation, recovery, and liquefaction of helium to meet the purity standards required for global distribution.
Chart Industries is recognized for its design, engineering, and manufacturing capabilities in handling gas and liquid molecules, supporting industries that focus on clean power, water, food, and industrials. The company operates with a commitment to environmental, social, and corporate governance, maintaining transparency and accountability across its 64 global manufacturing locations and over 50 service centers.
This strategic initiative between Chart Industries and Blue Spruce Operating is anticipated to enhance domestic resources for helium, contribute to natural gas supplies, and support carbon sequestration efforts. The company’s stock has shown strong momentum with a 28.75% return over the past six months, and based on InvestingPro Fair Value calculations, the stock currently appears undervalued. The information in this article is based on a press release statement from Chart Industries, Inc. and InvestingPro’s comprehensive analysis available through their Pro Research Report, which provides detailed insights into the company’s financials and growth prospects.
In other recent news, Chart Industries reported its Q4 2024 earnings, which fell short of analysts’ expectations. The company’s earnings per share (EPS) was $2.66, missing the forecasted $3.15, while revenue for the quarter was $1.11 billion, below the expected $1.18 billion. Despite these misses, Chart Industries achieved a 17.5% organic increase in full-year sales, reaching $4.16 billion. The company maintained its growth outlook for 2025, expecting a book-to-bill ratio above 1 and targeting a mid-30s gross margin.
In related developments, Stifel analysts reiterated their Buy rating on Chart Industries with a price target of $231.00, citing a strong order backlog and robust book-to-bill ratio. Although the company fell short of its guidance for the quarter and full year, the guidance remains unchanged, targeting a 14% revenue growth. Analysts at Stifel expressed optimism about the company’s growth prospects, noting that Chart Industries is outpacing its industrial peers.
Additionally, Chart Industries highlighted strong growth in the LNG, hydrogen, and carbon capture markets. The company emphasized its expanding pipeline of opportunities and increased capacity over the past seven years. These developments reflect a positive outlook for the company’s future performance, despite recent earnings challenges.
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