Chart Industries, Inc. reported a strong financial performance for the first quarter of 2025, with consolidated sales reaching $1,001.5 million, a 5.3% increase from $950.7 million in the same period last year. The company’s gross profit also rose to $339.8 million, up 12.4% from $302.3 million in the prior year, resulting in a gross profit margin of 33.9%, compared to 31.8% in Q1 2024. Net income attributable to Chart Industries, Inc. was $49.5 million, significantly higher than $11.3 million reported in the previous year, reflecting a notable increase in profitability.
The company experienced substantial growth in its Repair, Service & Leasing and Specialty Products segments, which contributed to the overall sales increase. However, sales in the Cryo Tank Solutions segment decreased by 4.1% year-over-year, primarily due to lower industrial gas sales in the United States. The Heat Transfer Systems segment saw a 5.4% increase in sales, driven by ongoing LNG projects. The overall increase in sales was slightly offset by a 1.3% negative impact from foreign currency fluctuations.
In terms of operational developments, Chart Industries reported a total backlog of $5,143.6 million as of March 31, 2025, up from $4,331.1 million a year earlier. This increase was largely attributed to higher orders in the Repair, Service & Leasing and Specialty Products segments. The company’s consolidated orders for the first quarter of 2025 were $1,315.6 million, compared to $1,121.6 million in the same quarter of 2024, indicating a strong demand for its products and services.
Chart Industries continues to focus on strategic growth initiatives, including investments in clean energy technologies. The company has maintained a commitment to environmental, social, and governance (ESG) principles, positioning itself as a leader in the energy transition. Looking ahead, the company anticipates continued growth driven by its diverse product offerings and expanding market presence, despite potential macroeconomic challenges such as geopolitical instability and inflationary pressures. The management remains optimistic about achieving its financial targets for the remainder of 2025, supported by a solid backlog and ongoing demand for its solutions.
About CHART INDUSTRIES INC
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