Chart’s Q2 profit, sales rise

For illustration purposes only (Image courtesy of Chart)

US LNG equipment maker Chart Industries on Thursday reported second-quarter profit of $12.3 million as compared to $2.8 million in the year before.

The equipment maker posted sales revenue of $319.9 million in the period, a rise of 34 percent over the second quarter of 2017.

Orders of $360.3 million increased 43 percent on the second quarter of 2017.

“With the strength in packaged gas, order activity in Asia, and European LNG vehicle tank and trailer demand, combined with our right-sized cost structure, we expect to see the second half of 2018 at higher sales and earnings levels than the first half of the year,” said Jill Evanko, Chart’s President and CEO.

“The $28 million Hudson order received in the second quarter for a large LNG project is exciting for our energy and chemicals segment, as it further demonstrates the strategic value of the combination of Hudson and Chart,” added Evanko.

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