Chart says Q1 orders hit record high

US LNG equipment maker Chart Industries saw a record intake of orders in the first quarter while it also increased its full-year earnings guidance.

The firm said orders increased 46 percent to $417.2 million contributing to a record backlog of $934.1 million. The orders included 105 new customers, it said.

Chart said the orders rose on the back of higher demand in several markets, including a recovery in certain end markets, continued demand for the firm’s clean products, and the combination of larger liquefaction orders for LNG and hydrogen.

Chart’s quarterly sales dropped 4.4 percent to $288.5 million.

In addition, the firm raised its full-year 2021 revenue guidance and now expects to earn $1.36 billion to $1.41 billion, compared to the prior outlook of $1.32 billion to $1.38 billion.

- Advertisements -

Most Popular

More News Like This

Siemens Energy wins contract for NEC’s Charlton LNG plant

Siemens Energy has secured a contract from Northeast Energy Center and Chart Energy & Chemicals to supply a gas/electric...

Chart books order for Corpus Christi LNG expansion project

US equipment manufacturer Chart Industries said it has booked an order for the expansion project at Cheniere's Corpus Christi...

Chart nets order for 2nd phase of Venture Global’s Plaquemines LNG project

US firm Chart Industries said it has received an order to provide equipment for the second phase of Venture...

Bechtel scores Corpus Christi expansion gig from Cheniere

US LNG exporting giant Cheniere said it has awarded a lump sum, turnkey, engineering, procurement and construction contract to...