Chart Industries
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Chart Industries (GTLS) investor relations material

Chart Industries Q4 2025 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q4 2025 earnings summary27 Feb, 2026

Executive summary

  • Full year 2025 orders rose 13.4% to $5.68B, with a book-to-bill ratio of 1.33; sales increased 2.5% to $4.26B, or 4.1% excluding non-recurring 2024 projects.

  • Adjusted operating income for 2025 was $884.4M (20.7% margin), up 6.2% excluding non-recurring 2024 items; adjusted EBITDA reached $1.01B (23.8% margin).

  • Fourth quarter 2025 orders fell 23.8% year-over-year due to absence of large LNG orders; backlog grew 21.5% to $5.89B.

  • Q4 2025 sales declined 2.5% to $1.08B; adjusted operating margin was 19.1%, down 290 bps, with gross margin at 33.3%.

  • Pending acquisition by Baker Hughes approved by shareholders, with expected close in Q2 2026.

Financial highlights

  • Full year 2025 reported operating income was $358.4M (8.4% margin); adjusted for deal and amortization costs, operating income was $884.4M (20.7% margin).

  • Full year adjusted EBITDA was $1.01B (23.8% margin); reported EBITDA was $625.7M (14.7% margin).

  • Q4 2025 adjusted EBITDA was $238.8M (22.1% margin), down 350 bps year-over-year.

  • Q4 2025 reported EPS was $1.01; adjusted EPS was $2.51.

  • Free cash flow for 2025 was $204.8M; Q4 2025 FCF was $66.2M, impacted by working capital and deal costs.

Outlook and guidance

  • 44% of year-end 2025 backlog expected to ship in the next 12 months.

  • Management highlights growth opportunities in data centers, carbon capture, nuclear, marine, and industrial gases.

  • Forward-looking statements note risks from supply chain, inflation, regulatory reviews, and global conflicts.

Specialty Products Q4 margin decline drivers
Q4 FCF impact from Baker Hughes deal costs
Data center market opportunity for LNG solutions
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Frequently asked questions

Chart Industries, Inc. manufactures and sells engineered equipment for the energy and industrial gas industries worldwide. The company provides natural gas treating process equipment and related products to prevent carbon dioxide from poisoning downstream applications such as engines and turbines. It also produces a range of hydrocarbon gas separation process systems that are used for separating hydrocarbon gases such as propane, butane, pentane, hexane, heptane, and other natural gas liquids (NGLs) from produced crude oil at field facilities or wellheads. In addition, the company offers products that are used in onshore oil fields in oil field well completion applications. It primarily serves oil production companies; independent refiners; oilfield service companies; drilling contractors; equipment manufacturers; petrochemical and chemical producers; government agencies; power generation companies; utilities; airlines; shipping companies; chemical and metal processors; steel producers; pulp and paper mills and chemical plant operators. Chart Industries is headquartered in Ball Ground, Georgia.

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