Chart Industries (GTLS) Q2 2026 earnings summary

Executive summary

• Orders reached $10.5 billion, up 49% year-over-year, with IET orders doubling to $7.1 billion and RPO at $40.1 billion, including a record $37.1 billion for IET.

• Revenue was $6.7 billion, down 2% year-over-year but up 2% sequentially, reflecting portfolio breadth and resilience amid Middle East challenges.

• Net income attributable was $681 million, with GAAP diluted EPS of $0.68 and adjusted diluted EPS of $0.64.

• Adjusted EBITDA was $1,231 million, up 2% year-over-year and 6% sequentially, exceeding guidance.

• Free cash flow was $1,109 million, with cash flows from operating activities at $1,345 million.

Financial highlights

• Orders increased 49% year-over-year and 29% sequentially; revenue decreased 2% year-over-year but increased 2% sequentially.

• Adjusted net income rose 3% year-over-year and 12% sequentially; adjusted EBITDA up 2% year-over-year and 6% sequentially.

• Book-to-bill ratio was 1.6 overall and 2.2 for IET.

• Net income decreased 3% year-over-year and 27% sequentially.

Outlook and guidance

• Full-year IET order guidance raised, with Horizon 2 (2026-2028) IET orders outlook increased to over $45 billion.

• Confidence in achieving the midpoint of full-year guidance, supported by strong fundamentals and expanding portfolio.