Chart Industries, Inc. Announces $250 Million Share Repurchase Authorization
11 Dezember 2024 - 2:00PM
Chart Industries, Inc. (NYSE: GTLS) (“Chart”), a global leader in
clean energy and industrial gas solutions, today announced that its
Board of Directors has authorized a share repurchase program of up
to $250.0 million of its common stock. Under the stock repurchase
program, Chart may purchase shares of its common stock through
various means, including open market transactions, block purchases,
privately negotiated transactions or otherwise in accordance with
applicable federal securities laws, including Rule 10b-18 and Rule
10b5-1 of the Securities Exchange Act of 1934, as amended. The
program may be modified, discontinued or suspended at any time
without prior notice.
We reiterate our financial policy of no share
repurchases or material cash acquisitions until we are below 2.5
net leverage, or there is a meaningful market event that would
necessitate us using it. As of September 30, 2024 our net leverage
ratio (per bank covenant) was 3.04.
Chart’s CEO Jill Evanko commented: “This stock buyback
authorization reflects our confidence in our business going
forward. We anticipate that we will be at $3 billion of debt by the
end of 2025, and look ahead at various opportunities to return
value to shareholders, continue to pay down debt, and deploy
capital for productivity and growth opportunities.”
Forward-Looking Statements
Certain statements made in this press release are
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. Forward-looking
statements include statements concerning the Company’s business
plans, including statements regarding completed acquisitions,
liquidity and cash flow, debt levels and leverage, and other
information that is not historical in nature. Forward-looking
statements may be identified by terminology such as “may,” “will,”
“should,” “could,” “expects,” “anticipates,” “believes,”
“projects,” “forecasts,” “outlook,” “guidance,” “continue,”
“target,” or the negative of such terms or comparable
terminology.
Forward-looking statements contained in this press release or in
other statements made by the Company are made based on management's
expectations and beliefs concerning future events impacting the
Company and are subject to uncertainties and factors relating to
the Company's operations and business environment, all of which are
difficult to predict and many of which are beyond the Company's
control, that could cause the Company's actual results to differ
materially from those matters expressed or implied by
forward-looking statements. Factors that could cause the Company’s
actual results to differ materially from those described in the
forward-looking statements include the factors discussed in Item 1A
(Risk Factors) in the Company’s most recent Annual Report on Form
10-K filed with the SEC, which should be reviewed carefully. The
Company undertakes no obligation to update or revise any
forward-looking statement.
About Chart IndustriesChart Industries, Inc. is
a global leader in the design, engineering, and manufacturing of
process technologies and equipment for gas and liquid molecule
handling for the Nexus of Clean™ - clean power, clean water, clean
food, and clean industrials, regardless of molecule. The company’s
unique product and solution portfolio across stationary and
rotating equipment is used in every phase of the liquid gas supply
chain, including engineering, service and repair and from
installation to preventive maintenance and digital monitoring.
Chart is a leading provider of technology, equipment and services
related to liquefied natural gas, hydrogen, biogas, and CO2 capture
amongst other applications. Chart is committed to excellence in
environmental, social, and corporate governance (ESG) issues both
for its company as well as its customers. With 64 global
manufacturing locations and over 50 service centers from the United
States to Asia, Australia, India, Europe, and South America, the
company maintains accountability and transparency to its team
members, suppliers, customers, and communities. To learn more,
visit www.chartindustries.com.
Investor Contact:John WalshSVP, Investor and
Government
Relations770-721-8899john.walsh@chartindustries.com
This press release was published by a CLEAR® Verified
individual.
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