Chart Industries Inc (GTLS) Q1 2021 Earnings Call Transcript fool.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from fool.com Daily Mail and Mail on Sunday newspapers.
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Howard grew up in Philadelphia watching the Philly sports teams struggle for championships. He has been investing since 1989 and been a Fool since 2001. Prior to joining The Fool as a contract writer in 2019, Howard worked in the steel business as an engineer for 28 years. When he isn’t writing, he is usually out for a run, or relaxing to the music of the Grateful Dead.
What happened
Shares of on-site power generation company
Bloom Energy (NYSE:BE) hit a five-month low recently, but are continuing to bounce off that level today. As of 12:10 p.m. EDT, Bloom shares were up 5.4% above Thursday s closing price.
Press release content from Globe Newswire. The AP news staff was not involved in its creation.
Chart Industries Reports 2021 First Quarter Results
Chart Industries, Inc.April 22, 2021 GMT
ATLANTA, April 22, 2021 (GLOBE NEWSWIRE) Chart Industries, Inc. (NYSE: GTLS) today reported results for the first quarter ended March 31, 2021. Further details can be found in the supplemental presentation included with this release. All figures in this release and supplemental presentation represent our continuing operations in our external reportable segments of Cryogenic Tank Solutions (“CTS”), Heat Transfer Systems (“HTS”), Specialty Products (“Specialty”) and Repair, Service & Leasing (“RSL”). Highlights include:
Record orders of $417.2 million (excluding Big LNG), contributing to record backlog of $934.1 million and including orders with 105 new customers and 21 first-of-a-kind (“FOAK”)
CF Industries to produce green hydrogen and ammonia in Louisiana; inks deal with thyssenkrupp
Sharing the news on Wednesday (21
st April), the US-based company said it will integrate the produced hydrogen into existing ammonia synthesis loops to enable production of 20,000 tonnes of green ammonia a year.
Construction and installation are expected to begin in the second half of 2021. It is hoped the project will be completed in 2023, when it will then be one of the largest of its type in North America.
German steelmaker thyssenkrupp will develop the alkaline water electrolyser. CF Industries and thyssenkrupp have inked an engineering and procurement contract for the effort.
Bloom Energy (NYSE:BE) are down between 39% and 57% in the past three months. Today, however, investor sentiment is turning and giving shares of those companies a bump. As of 3:45 p.m. EDT Wednesday, shares of Nikola, Plug, and Bloom Energy were up 6.3%, 5.8%, and 5.1%, respectively.
So what
Each of these names has had negative press over the past year. Nikola was called out by a short-seller for exaggerating the ability of its semitruck technology and other items that forced founder and chairman Trevor Milton to resign last year. Plug Power recently said it was going to have to restate three years worth of financials related to the accounting of warrants it issued to customers as incentives, and Bloom Energy was the subject of a