Chart Industries, Inc. reported a consolidated revenue of $4.26 billion for the fiscal year ending December 31, 2025, marking a 2.5% increase from $4.16 billion in 2024. The company's net income attributable to Chart Industries decreased significantly to $42.3 million, down from $222 million in the previous year, primarily due to a $266 million termination fee related to the abandoned merger agreement with Flowserve. The gross profit margin improved slightly to 33.7% from 33.4% in 2024, driven by better margins in the Cryo Tank Solutions and Heat Transfer Systems segments, although this was offset by lower margins in the Repair, Service & Leasing and Specialty Products segments.
The company experienced a notable increase in its backlog, which rose to $5.89 billion as of December 31, 2025, compared to $4.85 billion a year earlier. This growth was largely attributed to strong order activity in the Specialty Products segment, which saw orders increase by 33% to $2.08 billion, driven by demand in carbon capture, nuclear, and other specialty markets. Conversely, the Repair, Service & Leasing segment reported a decline in sales, primarily due to a lack of repeat emergency field service work that had boosted 2024 results.
Strategically, Chart completed the acquisition of Howden for $4.4 billion in March 2023, enhancing its position in the clean energy sector. However, the company also faced challenges, including the termination of its merger agreement with Flowserve, which resulted in a significant financial impact. Looking ahead, Chart has entered into a merger agreement with Baker Hughes, which is expected to close in the second quarter of 2026, pending regulatory approvals.
Operationally, Chart employed 11,777 individuals as of December 31, 2025, with a significant portion of its workforce based internationally. The company continues to focus on expanding its global footprint, with 62 manufacturing locations and over 50 service centers worldwide. Despite the challenges posed by macroeconomic conditions, including geopolitical tensions and inflation, Chart remains committed to its growth strategy, particularly in the clean energy market, which is expected to drive future demand for its products and services.
About CHART INDUSTRIES INC
Chart Industries, Inc. designs, engineers, and manufactures process technologies and equipment for gas and liquid molecule handling across clean energy sectors. Its core segments include Cryo Tank Solutions, Heat Transfer Systems, Specialty Products, and Repair, Service & Leasing. Serving global producers and distributors of industrial, hydrocarbon, and hydrogen gases, Chart offers integrated solutions for storage, liquefaction, purification, and lifecycle services, leveraging advanced technology and a broad global footprint.
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