Chart Industries Reports 4% Revenue Growth and $76.1M Net Income in Q2 2025

Chart Industries, Inc. reported a solid financial performance for the second quarter of 2025, with consolidated sales reaching $1,082.3 million, a 4.0% increase from $1,040.3 million in the same period last year. The company’s net income attributable to Chart Industries, Inc. was $76.1 million, up from $58.6 million in the prior year, reflecting a significant increase in profitability. The earnings per share for the quarter were $1.54, compared to $1.23 in the second quarter of 2024. For the first half of 2025, total sales amounted to $2,083.8 million, a 4.7% increase from $1,991.0 million in the first half of 2024, with net income attributable to the company rising to $125.6 million from $69.9 million.

The company experienced notable changes in its operational segments. The Heat Transfer Systems segment saw a substantial sales increase of 24.8% year-over-year, driven by strong demand in LNG projects and data centers. Conversely, the Cryo Tank Solutions segment reported a decline in sales of 5.8%, attributed to lower industrial gas sales in the U.S. The Specialty Products segment also experienced a modest sales increase of 5.5%, while the Repair, Service & Leasing segment's sales decreased by 6.2%, primarily due to a lack of high-margin emergency service repair contracts that had boosted performance in the previous year.

In terms of strategic developments, Chart Industries announced a proposed merger with Baker Hughes Company on July 28, 2025. Under the terms of the merger agreement, each share of Chart's common stock will be converted into $210.00 in cash. The merger is subject to various conditions, including stockholder approval and regulatory clearances. Additionally, the company terminated a previous merger agreement with Flowserve Corporation, incurring a termination payment of $266 million, of which $258 million will be covered by Baker Hughes on Chart's behalf.

Operationally, Chart Industries reported a total backlog of $5,536.5 million as of June 30, 2025, compared to $4,426.0 million a year earlier, indicating strong future revenue potential. The company’s cash and cash equivalents increased to $344.0 million, up from $310.5 million at the end of 2024. The company also noted improvements in cash provided by operating activities, which rose to $85.9 million for the first half of 2025, compared to $21.0 million in the same period of 2024. Looking ahead, Chart Industries remains focused on executing its growth strategy while navigating macroeconomic challenges, including geopolitical tensions and inflationary pressures.