Chart Industries Plots Course Amid LNG Delays, Hydrogen Growth

October 31, 2023--Researched by Industrial Info Resources (Sugar Land, Texas)--Despite boasting a strong project backlog that includes several highly anticipated liquefied natural gas (LNG) projects, Chart Industries Incorporated (NYSE:GTLS) (Atlanta, Georgia), which provides engineered equipment to the clean-energy and industrial-gas markets, cut its full-year revenue outlook amid changes in customer schedules and designs, compounded by supply-chain delays, especially for major LNG projects.

Industrial Info is tracking more than $34 billion worth of active and planned projects involving Chart's services in the U.S., including nearly $20 billion worth of plant-expansion projects. Executives say 2023's revenue is now expected to total between $3.45 billion and $3.5 billion, a decline of 4% to 9% the from previous guidance, as projects such as Tellurian Incorporated's (Houston, Texas) Driftwood LNG face setbacks.

Other companies featured: Cheniere Energy Incorporated (NYSE:LNG), Plug Power Incorporated (NASDAQ:PLUG)