Chart Industries, Inc. · NYSE:GTLS
Chart Industries — Q1 2021 Earnings Presentation
19 slides from Chart Industries's earnings presentation, Apr 22, 2021
Slide 1: Chart Industries First Quarter 2021 Results
Chart Industries FIRST QUARTER 2021 RESULTS Exhibit 99.2
Slide 2: Forward-Looking Statements
Forward-Looking Statements CERTAIN STATEMENTS MADE IN THIS PRESENTATION ARE FORW ARD-LOOKING STATEMENTS W ITHIN THE MEANING OF THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995. FORW ARD-LOOKING STATEMENTS INCLUDE STATEMENTS CONCERNING THE COMPANY’S BUSINESS PLANS, INCLUDING STATEMENTS REGARDING
Slide 3: First Quarter 2021 Summary
Q1 2021 Q1 2020 Q1 2019 Orders (1) $417 $286 $443.1/310.5 % Change +46% (5.8%)/+34.4% Backlog $934 $723 $725 % Change +29% +29% Sales $288 $302 269.0 % Change (5%) +7.2% Reported GM% 29.1% 27.3% 21.4% % Change +180 bps +770 bps Adjusted GM % 29.9% 28.5% 24.8% Basis point change +140 bps +510 bps Rep
Slide 4: Specialty Products
4 Specialty Products Q1 2021 Compared to Q1 2020 • Significant increase in hydrogen related orders (another record H2 order quarter) • Record sales in HLNG, Food & beverage and water treatment • Q1 2021 gross profit as a percent of sales negatively impacted by regional shipping mix (greater China) Q
Slide 5: Chart's Strategic Acquisitions and Investments
© 2021 Chart Industries, Inc. Confidential and Proprietary 5 Chart’s Strategic Acquisitions and Investments 2020 Development Agreement for LH2 automotive Completed master supply agreement Acquisition of cryogenic and H2 trailer business and former microbulk business 30M Euro investment with commerci
Slide 6: Our Specialty Markets Keep Growing
Our Specialty Markets Keep Growing 700M 750M 2,300M Space Cryogenic liquid propellants are used as fuel for rocket propulsion Drivers of Size Opportunity Proliferation of private space travel industry Industrial Lasers High purity liquid nitrogen (gas assist) provides a faster cut and superior
Slide 7: Measuring Progress on Our H2 Addressable Market
© 2021 Chart Industries, Inc. Confidential and Proprietary 7 Measuring Progress on Our H2 Addressable Market • 100 Fueling stations • 25 hydrogen transports • 4 hydrogen liquefiers • Space launch tanks Prior to October 14, 2020 GTLS TAM(1) $600 Million • 136 Fueling stations • 83 hydrogen transports
Slide 8: Q1 2021 First of a Kinds (FOAKs) and Meaningful Orders
Q1 2021 First of a Kinds (FOAKs) and Meaningful Orders 8 Liquid Nitrous Oxide Dosing for Coffee First PermaMax used in portable/off grid cannabis growhouses Argon Rail Cars to an IG Major Customer Increased CO2 consumption drove move to higher flow CarboMax 600 LH2 marine study for zero emission tug
Slide 9: Repair, Service & Leasing
9 Repair, Service & Leasing Q1 2021 Compared to Q1 2020: • Q1 2020 included a larger order for a Saudi customer • Q1 2021 orders continue to reflect weaker ACHX aftermarket • Improvement in gross margin reflects appropriate cost structure and increasing positive mix from aftermarket, service, repair
Slide 10: Cryo Tank Solutions
10 Cryo Tank Solutions Q1 2021 Compared to Q1 2020: • Record mobile equipment orders and sales • Rebounding of industrial gas activity, in particular when comparing March 2020 to March 2021 Q1 2021 Compared to Q4 2020: • Fourth quarter 2020 was a record order quarter • Sequential sales decline repre
Slide 11: China Is Firing on All Cylinders... Mobile Equipment is Rolling
China Is Firing on All “Cylinders” (ISO Containers)… 11 And Mobile Equipment is “Rolling”… In the first quarter of 2021: • Mobile equipment orders and sales were a record • Booked 171 trailer orders • Proudly supported carbon-neutral BioLNG to a Schenk German truck refueling site using Chart LNG tra
Slide 12: Heat Transfer Systems
12 Heat Transfer Systems Q1 2021 Compared to Q1 2020: • Order increase driven by start of air-cooled heat exchanger (ACHX) and petrochemical market recovery, New Fortress Energy FastLNG project • Sales decrease resulting from 2020 decline in ACHX orders and less Venture Global Calcasieu Pass (VGCP)
Slide 13: First Quarter 2021 Earnings Per Share
© 2021 Chart Industries, Inc. Confidential and Proprietary 13 First Quarter 2021 Earnings Per Share $ millions, except per share amounts Q1 2021 Q1 2020 Change v. PY Net income from continuing operations $25.6 $2.1 $23.5 Reported Diluted EPS $0.63 $0.06 $0.57 1 Restructuring and transaction-related
Slide 14: 2020 Actual Sales to 2021 Sales (to Low End of Range)
2020 Actual Sales to 2021 Sales (to Low End of Range) 14 (A) VG Calcasieu Pass ~$98 million in 2020, $21 million in 2021 full year outlook (B) Includes FastLNG 2021 revenue portion and 2021 petrochemical project currently in backlog as well as one additional small-scale LNG project expected to be bo
Slide 15: Full Year 2021 Guidance (Continuing Operations)
Full Year 2021 Guidance (Continuing Operations) 15© 2021 Chart Industries, Inc. Confidential and Proprietary Prior Guidance Current Guidance Revenue $1.32 to $1.38B Includes $21M of Calcasieu Pass Includes $30M from CT Non-Diluted Adjusted EPS $3.50 to $4.00 Assumes 18% ETR & 35.5M shares outstandin
Slide 16: Updated Sustainability Report
Updated Sustainability Report Issued April 6, 2021 © 2021 Chart Industries, Inc. Confidential and Proprietary 16 • Achieved lowest Total Recordable Incident Rate in our history (2020) • Actively implement Diversity and Inclusion Committee suggestions • Provide one paid day off to each team member an
Slide 17: Appendix
Appendix 17
Slide 18: Q1 2021 Free Cash Flow
© 2021 Chart Industries, Inc. Confidential and Proprietary 18 Q1 2021 Free Cash Flow (1) “Net income, adjusted” is not a measure of financial performance under U.S. GAAP and should not be considered as an alternative to net income in accordance with U.S. GAAP. Reconciliation to Net Income (U.S. GAAP
Slide 19: Prior 2020 Sales to 2021 Forecast Sales (to Low End of Range)
PRIOR 2020 Sales to 2021 Fcst Sales (to Low End of Range) 19 (A) VG Calcasieu Pass ~$98 million in 2020, $21 million in 2021 forecast (B) Expect two small-scale LNG projects to move to notice to proceed in 2021, resulting in a portion of revenue recognition in the second half of 2021 (C) A portion o