Chart Industries is continuing to see demand for its equipment and solutions related to the transition to clean energy infrastructure and specialty markets amid the coronavirus (Covid-19) pandemic.
The US equipment and systems provider yesterday released its mid-second quarter business update in which Chart said the current economic situation continues to be challenging for its oil-related product lines.
With more than $60m of cost reductions taken year-to-date, Chart said it continues to expect margin expansion throughout 2020 and strong free cash flow for the year, with debt paydown a priority.
April 2020 free cash flow of $12.6m was driven by strong earnings, cash collections and supplier terms extensions.
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