Slide 1: Fourth Quarter and Full Year 2024 Earnings Call
Fourth Quarter and Full Year 2024 Earnings Call February 28, 2025 © 2025 Chart Industries, Inc. Confidential and Proprietary
Slide 2: Forward Looking Statements (1/2)
Forward Looking Statements (1/2) Certain statements made in this investor presentation are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements concerning Chart’s business plans, including statements rega
Slide 3: Forward Looking Statements (2/2)
Forward Looking Statements (2/2) This presentation contains non-GAAP financial information, including adjusted diluted EPS, “net income, adjusted”, free cash flow, EBITDA, adjusted EBITDA, adjusted EBITDA margin, adjusted operating income, and adjusted operating margin. For additional information re
Slide 4: Fourth Quarter 2024 Key Takeaways
Fourth Quarter 2024 Key Takeaways All metrics are pro forma(2) y/y versus Q4 2023 unless noted otherwise • Orders of $1,553.1 million increased +29.4% • Sales of $1,106.8 million increased 10.1% (includes 0.7% FX headwind) • Adjusted operating income margin(1) of 22.0% increased +90bps • Adjusted EB
Slide 5: Fourth Quarter 2024 Key Metrics
Fourth Quarter 2024 Key Metrics All metrics are pro forma(2) y/y unless noted otherwise $ millions, except per share amounts Q4 2024 Q4 2023(2) Change Continuing Operations Total Orders $1,553.1 $1,200.3 +29.4% Book to Bill (Total) 1.4 1.2 Total Backlog 4,845.1 4,278.8 +13.2% Total Sales 1,106.8 1,0
Slide 6: Fourth Quarter 2024 Commercial Wins
Fourth Quarter 2024 Commercial Wins IPSMR® liquefaction process Nitrogen Rejection Unit Carbon capture solution (NRU) for midstream gas Exhaust gas recirculation and cold boxes for Phase 1 and helium storage for Woodside Louisiana LNG customer (EGR) for Asian shipbuilder Pulsar Helium African Power
Slide 7: Key IPSMR Developments
Key IPSMR® Developments Woodside Louisiana LNG Phase 1 Order Additional Announcements Order includes supply of integrated pre-cooled Cheniere Energy achieves first liquefied natural single mixed refrigerant (IPSMR®) liquefaction gas (“LNG”) production from the first train of its technology, two LNG
Slide 8: Fourth Quarter 2024 Key Metrics
Fourth Quarter 2024 Key Metrics All metrics are pro forma(2) y/y unless noted otherwise Sales(2) Adjusted Operating Profit(1,2) Adjusted EBITDA(1,2) +10.1% +14.9% +18.8% Sales growth driven by strong Profit growth driven by volume Excluding the foreign exchange backlog conversion at Specialty levera
Slide 9: Fourth Quarter 2024 Key Metrics
Fourth Quarter 2024 Key Metrics All metrics are pro forma y/y unless noted otherwise (2) Gross Profit Margin Operating Inc Margin(1) EBITDA Margin(1) On track to achieve medium-term Increased margin driven by both gross profit and SG&A leverage. Conversion of framework of mid-30% reported full solut
Slide 10: Fourth Quarter 2024 FCF and Capital Structure
Fourth Quarter 2024 FCF and Capital Structure Free Cash Flow(1) • 1% Convertible Notes settled in November 2024, Q4 2024 Q4 2023(3) $ in millions simplifying our capital structure Operating Cash Flow $281.5 $127.4 • Opportunistically repriced TLB in 2024, resulting in Capital Expenditures (20.5) (20
Slide 11: Pro Forma Segment Results
Pro Forma Segment Results Reported Gross Profit $ millions Orders(1) Sales(1) Margin Commentary Q4 24 Q4 23 PF Q4 24 Q4 23 PF Q4 24 Q4 23 PF Cryo Tank $138.5 $157.2 $150.2 $204.2 24.4% 22.3% • Difficult order comparison due to timing of specific larger projects in Solutions engineered systems in Q4
Slide 12: Chart Industries 2025 Outlook
Chart Industries 2025 Outlook Guidance Metrics as of February 28, 2025 Full Year Guidance Comment • Favorable large order timing in Q4 2024 Revenue $4.65 to $4.85 Billion • FX headwind of (~2%) at current FX rates Adjusted EBITDA(1) $1.175 to $1.225 Billion Adjusted Diluted Earnings $12.00 to $13.00
Slide 13: Appendix
Appendix © 2025 Chart Industries, Inc. Confidential and Proprietary 13
Slide 14: Fourth Quarter Sequential Metrics
Fourth Quarter Sequential Metrics All metrics are pro forma(2) q/q unless noted otherwise $ millions, except per share amounts Q4 2024 Q3 2024 Change Continuing Operations Total Orders 1,553.1 1,167.5 +33.0% Book to Bill (Total) 1.4 1.1 Total Backlog 4,845.1 4,535.3 +6.8% Sales 1,106.8 1,062.5 +4.2%
Slide 15: Full Year Sequential Metrics
Full Year Sequential Metrics All metrics are pro forma(2) q/q unless noted otherwise $ millions, except per share amounts 2024 2023(2) Change Continuing Operations Total Orders 5,006.8 4,422.4 +13.2% Book to Bill (Total) 1.2 1.2 Total Backlog 4,845.1 4,278.8 +13.2% Sales 4,160.3 3,558.7 +16.9% Repor
Slide 16: Full Year 2024 Key Metrics
Full Year 2024 Key Metrics All metrics are pro forma(2) y/y unless noted otherwise Sales(2) Adjusted Operating Profit(1,2) Adjusted EBITDA(1,2) +16.9% +43.9% +35.3% 1. Adjusted operating profit and Adjusted EBITDA are not measures of financial performance under U.S. GAAP and should not be considered
Slide 17: Full Year 2024 Key Metrics
Full Year 2024 Key Metrics All metrics are pro forma(2) y/y unless noted otherwise Gross Profit Margin Operating Inc Margin(1) EBITDA Margin(1) 1. Adjusted operating income margin, EBITDA and Adjusted EBITDA margin are not measures of financial performance under U.S. GAAP and should not be considere
Slide 18: Adjusted Diluted Earnings Reconciliation
Adjusted Diluted Earnings Reconciliation Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 2024 Amounts attributable to Chart common stockholders Net income attributable to Chart Industries, Inc. $49.8 $11.3 $58.6 $69.0 $79.6 $218.5 Less: Income (loss) from discontinued operations, net of tax $2.0 ($2.2) ($0.
Slide 19: Adjusted Diluted EPS Reconciliation Table
Adjusted Diluted EPS Reconciliation Table 2024 Diluted Q4 2023 Diluted EPS Q1 2024 Diluted EPS Q2 2024 Diluted EPS Q3 2024 Diluted EPS Q4 2024 Diluted EPS EPS Reported income from continuing operations attributable to Chart (U.S. GAAP) $0.88 $0.14 $1.10 $1.34 $1.60 $4.17 Unrealized loss (gain) on in
Slide 20: Pro Forma Adjusted Diluted EPS Reconciliation Table
Pro Forma(2) Adjusted Diluted EPS(1) Reconciliation Table $ millions, except per share Q4 2024 Q4 2023 Net income (loss) attributable to Chart Industries, Inc. $79.6 $49.8 Less: (Loss) income from discontinued operations, net of tax (0.7) 2.0 Income from continuing operations 80.3 47.8 Less: Mandato
Slide 21: Fourth Quarter 2024 Adjusted EBITDA
Fourth Quarter 2024 Adjusted EBITDA Three Months Ended Year Ended December 31, December 31, December 31, December 31, 2024 2023 2024 2023 Net income (loss) from continuing operations $83.3 $51.4 $236.3 $57.5 Income tax expense (benefit) 27.7 7.2 78.6 3.0 Interest expense, net 79.8 86.4 328.5 289.1 A
Slide 22: Pro Forma Free Cash Flow Reconciliation Table
Pro Forma(3) Free Cash Flow(1) Reconciliation Table $ millions Q4 2024 Q4 2023 Net cash provided by (used in) operating activities from continuing operations $281.5 $128.7 Operating cash from American Fan, Cofimco and Cryo Diffusion (divested in fourth quarter 2023) — (1.3) Pro-forma operating cash
Slide 23: Segment Pro Forma Reconciliation
Fourth Quarter Segment Pro Forma(1) Reconciliation Three Months Ended December 31, 2023 Cryo Tank Heat Transfer Specialty Repair, Service Intersegment Corporate Consolidated Solutions Systems Products & Leasing Eliminations Orders $157.6 $324.7 $399.8 $328.4 ($1.4) $0.0 $1,209.1 Less: Orders from bu
Slide 24: 2023 Segment Pro Forma Reconciliation
2023 Segment Pro Forma(1) Reconciliation Twelve months ended December 31, 2023 Cryo Tank Heat Transfer Specialty Repair, Service & Intersegment Solutions Systems Products Leasing Eliminations Corporate Consolidated Orders $ 608.8 $ 1,114.2 $ 1,341.6 $ 1,100.8 $ (25.2) $ — $ 4,140.2 Howden standalone
Slide 25: Operating Income (Loss) to Adjusted Operating Income (Loss)
Operating Income (Loss) to Adjusted Operating Income (Loss) Three Months Ended December 31, 2024 Heat Repair, Cryo Tank Specialty Intersegment Transfer Service & Corporate Consolidated Solutions Products Eliminations Systems Leasing Sales $150.2 $288.8 $316.9 $350.7 $0.2 $— $1,106.8 Operating income
Slide 26: Operating Income to Adjusted Operating Income FY 2024
Operating Income to Adjusted Operating Income(1) FY 2024 Q1 2024 Q2 2024 Q3 2024 Q4 2024 2024 Sales $950.7 $1,040.3 $1,062.5 $1,106.8 $4,160.3 Operating income as reported 112.9 167.8 178.5 188.3 647.5 Operating income margin 11.9 % 16.1 % 16.8 % 17.0 % 15.6 % Restructuring & related costs, deal rel
Slide 27: Q4 2023 Pro Forma Adjusted EBITDA & Adjusted Operating Income
Q4 2023 Pro Forma(2) Adjusted EBITDA & Adjusted Operating Income(1) Three Months Twelve Months Ended December Ended December 31, 2023 31, 2023 EBITDA (non-GAAP) $ 220.7 $ 614.6 Howden standalone EBITDA, net of Roots, American Fan, Cofimco and Cryo Diffusion divestiture impacts (2.2) 17.4 Pro forma E