Chart Industries, Inc. (GTLS),an engineered equipment manufacturer, disclosed its first-quarter results on Friday. The company reported a net income from continuing operations of $6.7 million or $0.14 share, which contrasts significantly with the net loss of $22.7 million or $0.54 share during the same quarter last year. This financial turnaround was primarily driven by revenue growth; however, both the earnings and revenue fell short of market predictions.
After adjusting for one-off items, the company reported earnings of $1.49 per share, a rise from $1.38 per share in the previous year. Despite this improvement, the earnings didn't meet the average estimate of $1.55 per share predicted by analysts queried by Thomson-Reuters. It's important to note, analysts' estimates usually leave out special items.
The company's revenue for this quarter saw a substantial boost advancing to $950.7 million from $531.5 million the previous year. Despite this increase, it was less than the predicted consensus of $972.88 million.
In terms of forecasts, Chart Industries maintains that the full-year sales will fall within $4.7 billion to $5.0 billion. Additionally, the company anticipates that the adjusted Earnings per Share (EPS) will range between $12.00 and $14.00.
Market experts predict that the company will report earnings of $10.56 per share on a revenue of $4.67 billion for the year.
