Chart’s Q2 orders surge

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

The firm said orders jumped 83.2 percent year-on-year to $447.9 million contributing to a record backlog of $1.08 billion. The orders included 133 new customers, it said.

Chart said the orders rose on the back of higher demand in several markets.

These include 16 first-of-a-kind orders, including the first LNG road tankers to be operated in South Africa. Chart also booked record HLNG vehicle tank orders and the largest LNG bus order in its history, it said.

Also, the firm said it has received full notice to proceed on the New Fortress Energy’s “Fast LNG” project.

Chart’s quarterly sales increased 11.2 percent to $322 million.

In addition, the firm raised its full-year 2021 revenue guidance and now expects to earn $1.38 billion to $1.43 billion, compared to the prior outlook of $1.36 billion to $1.41 billion.

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