Earnings release
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Exhibit 99.1 Chart Industries Reports 2021 Third Quarter Results Atlanta , Georgia - October 21 , 2021 - Chart Industries , Inc. ( NYSE : GTLS ) today reported results for the third quarter ended September 30 , 2021 as well as an update to our 2022 outlook . Further details can be found in the supplemental presentation included with this release . Highlights include : • • . Orders of $ 350.2 million resulted in our fourth consecutive quarter of record backlog ( $ 1,102.2 million ) , bringing year - to - date orders to $ 1,215.3 million ( + 53.3 % over year - to- date September 30 , 2020 ) Sales of $ 328.3 million were an increase of 20.2 % ( organic increase of 13.4 % ; 25.2 % excluding Big LNG ) compared to the third quarter 2020 and sequentially an increase of 2.0 % compared to the second quarter 2021 Closed on a $ 1 billion sustainability - linked revolving credit facility ( refinance of existing loan and revolver ) which lowers cost of borrowing , staggers our overall debt maturities and increases capacity while furthering our ESG leadership Reported non - diluted earnings per share ( " EPS " ) of $ 0.42 ; adjusted non - diluted EPS of $ 0.81 inclusive of all investment activity in the quarter ; $ 0.55 excluding all investment activity , driven by rapidly accelerating costs not yet covered by additional pricing actions taken Full year 2021 sales guidance of $ 1.31 billion to $ 1.33 billion ( decrease from prior guidance of $ 1.38 billion to $ 1.43 billion ) driven by project specific sales timing shifts into 2022 and associated full year 2021 adjusted non - diluted EPS of $ 2.75 to $ 3.10 driven by timing of project sales and price increases relative to backlog Increasing 2022 revenue outlook ( excluding Big LNG ) to $ 1.70 billion to $ 1.85 billion ( from prior of $ 1.60 billion to $ 1.70 billion ) ; releasing 2022 adjusted non - diluted EPS guidance of $ 5.25 to $ 6.50 ( excluding Big LNG and inclusive of expected first half 2022 continued inflationary pressures ) Summary : Our third quarter 2021 results were a juxtaposition of rapidly expanded near - term supply chain , labor and logistics challenges with strong continued broad - based demand , demonstrated in order and backlog growth . Even with record sales and sequential quarterly growth in Specialty Products and Cryo Tank Solutions , third quarter 2021 sales were less than anticipated entirely due to timing ( see the supplemental presentation slide 12 for specifics ) , which we anticipate shifts to the fourth quarter 2021 , while also anticipating that certain previously projected project revenue recognition originally expected in the fourth quarter 2021 is now captured in our 2022 outlook . Even considering the timing challenges on shipments , sales were 20.2 % higher than the third quarter 2020 ( organic increase of 13.4 % ) and 2.0 % higher than the second quarter 2021. As a reminder , the third quarter 2020 included approximately $ 25.6 million of Venture Global Calcasieu Pass sales and the second quarter 2021 had approximately $ 5 million , while 1