Chart Industries Inc. (GTLS) reported a profit for its second quarter that demonstrated growth compared to the previous year but fell short of Wall Street expectations.
The company recorded a net income of $51.8 million, or $1.10 per share, marking a significant increase from the $2.2 million, or $0.05 per share, reported in the same quarter last year.
On an adjusted basis, excluding special items, Chart Industries Inc. posted earnings of $2.18 per share for the quarter.
According to data from Thomson Reuters, analysts had projected the company's earnings to be $2.46 per share on average, excluding special items.
Revenue for the quarter saw a substantial rise, increasing by 14.5% to $1.040 billion from $908.1 million in the corresponding period last year.
Summary of Chart Industries Inc. Q2 Earnings (GAAP):
- Net Income (Q2): $51.8 million vs. $2.2 million last year.
- Earnings Per Share (Q2): $1.10 vs. $0.05 last year.
- Revenue (Q2): $1.040 billion vs. $908.1 million last year.
