2021 started off with great momentum for Chart Industries, with the US-based company toda (22nd April) reporting record orders of $417.23m in its first quarter (Q1) 2021 results.
The highest in the company’s history, Q1 results were driven by broad based demand, including recovery in certain end markets, continued demand for clean products, and the combination of larger liquefaction orders for LNG and hydrogen.
Sharing the results today (22nd April), Chart said the order activities has contributed to a record backlog of $943.1m. Sales of $288.5m for the quarter were also reported, and are said to be in line with Chart’s expectations.
Reported gross margin as a percent of sales of 29.1% was the highest in four years, reflecting continued operational execution, synergy achievements through integrations and the increasing impact of higher growth, higher margin businesses which now represent a larger portion of our total revenue.
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