Maxi Kleber (Dallas Mavericks) with a dunk vs the Orlando Magic, 03/01/2021
Maxi Kleber (Dallas Mavericks) with a dunk vs the Orlando Magic, 03/01/2021
Jaguar Land Rover (JLR) has revealed that production at two of its UK manufacturing plants is to be suspended due to a shortage of parts. The company said that operations at the Castle Bromwich and Halewood sites would be affected through a "limited period" of non-production from next Monday. It blamed a COVID-19 crisis issue of semi-conductor shortages, widely flagged by the industry as a whole and blamed for disruption to schedules among rivals and at other firms which rely on computer chips.
Top news and what to watch in the markets on Thursday, April 22, 2021.
New York, New York--(Newsfile Corp. - April 22, 2021) - The following statement is being issued by Levi & Korsinsky, LLP:To: All persons or entities who purchased or otherwise acquired securities of Lordstown Motors Corp ("Lordstown Motors") (NASDAQ: RIDE) between August 3, 2020 and March 24, 2021. You are hereby notified that a securities class action lawsuit has been commenced in the United States District Court for the Northern District of Ohio. To get ...
New York, New York--(Newsfile Corp. - April 22, 2021) - The following statement is being issued by Levi & Korsinsky, LLP:To: All persons or entities who purchased or otherwise acquired securities of XL Fleet Corp. ("Xl Fleet") (NYSE: XL) between October 2, 2020 and March 2, 2021. You are hereby notified that a securities class action lawsuit has been commenced in the United States District Court for the Southern District of New York. To ...
The U.S. House of Representatives on Thursday is set to approve, for the second time in less than a year, legislation making the District of Columbia the 51st state in a move sure to further inflame tensions between Democrats and Republicans in Congress. The population of Washington, D.C. is heavily Democratic. As a state, it likely would elect two Democratic senators, potentially changing the balance of power in the Senate, which now has 50 Democrats and 50 Republicans.
Every year as Earth Day (22 April) approaches, many are reminded once again to make an effort to do a little bit more to save the earth.
WASHINGTON — It won't rival Netflix for drama, but 40 world leaders will try to save the planet from ever-worsening global warming in a two-day climate summit livestreamed for binge viewing. While there will be many faces on screen, this will clearly be President Joe Biden’s show. Biden will convene the summit on Thursday, and what he says will call the shots for what’s to come. He’s trying to show that the United States is again serious about cutting pollution of heat-trapping gases with a new American goal for reducing emissions. Then he’ll try to cajole other nations to ratchet up the pollution-cutting promises they made in 2015's Paris climate agreement. All of it via virtual diplomacy. Along the way, there may be intrigue, potential conflicts and pathos. A viewer’s guide: HOW TO WATCH All sessions will be livestreamed on the White House and State Department channels. Sessions are scheduled to run from 8 a.m. EDT to midday on Thursday and Friday. THE THEME It’s simple: The U.S. is returning to the climate fight and wants to lead again. After the United States helped negotiate the last two climate agreements — 1997’s Kyoto Protocol and 2015’s Paris accord — Presidents George W. Bush and Donald Trump backed out. The United States last year became the only country to leave the Paris deal. For the Biden administration, this summit is “their version of ‘we’re baaack,’” said Henry “Jake” Jacoby, co-founder of the MIT Center for Global Change Science. “And they want to do that in a dramatic way.” That dramatic way is to announce one of the world’s most ambitious national goals for cutting the gases that cause climate change: cutting them between 50% and 52% by 2030 compared with 2005. “That is quite a welcome message after the four years we painfully witnessed,” said Christiana Figueres, the former U.N. climate chief, who helped forge the Paris accord. “The fact that the United States is back is very important.” WHY WATCH Human-caused climate change is getting worse around the globe. On average about 23 million people a year are displaced by weather-related storms, fires and floods, according to the World Meteorological Organization. Hundreds of billions of tons of snow and ice are lost each year. Sea level rise is accelerating. In Paris, world leaders set two goals to limit global warming to 3.6 degrees Fahrenheit (2 degrees Celsius) and if possible to limit it to no more than 2.7 degrees Fahrenheit (1.5 degrees Celsius) compared with pre-industrial temperatures. However, the world has already warmed almost 2.2 degrees Fahrenheit (1.2 degrees Celsius). “We are on the verge of the abyss,” U.N. Secretary-General Antonio Guterres said Monday. Leaders still hope that somehow the more stringent Paris goal can be met even as scientists say it is less and less likely. The leaders attending the summit represent "the group that will make it possible that we keep the 1.5-degree goal within reach,” U.N. climate chief Patricia Espinosa told The Associated Press. THE KEY ANNOUNCEMENT The Paris agreement calls for ratcheting up 6-year-old commitments to cut carbon emissions with tougher goals aimed at 2030. Biden's new target aims for cutting the country's greenhouse gas emissions from 50% to 52%, aiming to achieve it by emphasizing decarbonization across the government and economy. That would put “the U.S. at the top of the pack,” said former Obama White House environment official Kate Larsen, a director at the private research Rhodium Group. It would be about the same as the European Union but behind the United Kingdom. After the U.S. announces its target, other nations will be invited to present tougher targets. FOLLOW THE MONEY Just as important is money, Espinosa said. That’s because poorer nations, which are using polluting fossil fuels to develop, need financial help to switch to cleaner but more expensive fuels. The Paris agreement commits richer nations, like the United States, to spend billions of dollars to help poorer nations because it makes the world cleaner for everyone, she said. Years ago, the developed world committed to $100 billion in public and private financial help, much of which hasn’t been paid. Eventually that needs to increase to $1 trillion a year because that's how much it will take to get the world to decarbonize and help poorer nations adapt to rising sea levels, worsening storms and other climate harms, former climate chief Figueres said. The U.S. promised $3 billion in aid in Paris but paid only the first $1 billion. Then Trump cancelled the rest. Biden has put $1.2 billion in his latest budget proposal. “The U.S. is way behind on its commitment because of those four Trump years,” Figueres said. “And needs to play catch up, not on its own, but hand-in-hand with all of the other industrialized nations.” Also look for private companies to contribute. WHOM TO WATCH This is Biden’s show, and he will kick it off, formally announcing the 50% to 52% emissions cut. He’ll be followed by the leaders of the world’s biggest economies, which spew 80% of the greenhouse gases. The U.S., which has put the most greenhouse gases in the atmosphere over decades, and current top carbon-polluting nation China, last week issued a joint statement saying they’re working together to be more ambitious on climate. Chinese President Xi Jinping will deliver an important speech, the government announced. Also keep an eye on the leader of India, the third-biggest emitter. Then there’s the human factor. The tighter Paris goal of 1.5 degrees Celsius is because small island nations, such as the Marshall Islands and Jamaica, said further warming and sea level rise could wash them out of existence. Some of those leaders will talk at the summit. “The message they will bring humanizes climate change,” Figueres said. “Let’s not only talk about gigatons (of emissions), let’s talk about human impact today, not just in the future.” ALSO STARRING Others to closely watch: leaders of Japan and South Korea, who are being pressured to stop financing new coal power plants in other countries. Brazil President Jair Bolsonaro will be on the spot because his country's 2030 goal is weaker than the nation's 2025 goal and there's pressure to stop Amazon deforestation. And Russia's Vladimir Putin, who has clashed with Biden, will also appear. But there's more. Pope Francis will speak on Thursday, while Bill Gates and Michael Bloomberg are featured on Friday. Mayors, governors, financial leaders, numerous Biden appointees plus Vice-President Kamala Harris and indigenous and youth activists will also get screen time. THE SEQUEL This all leads to formal climate negotiations in November in Glasgow, Scotland, which is the big follow-up to the Paris agreement. The United Nations is counting on nearly 200 nations to announce tougher emission cut targets before that meeting, which will hash out still lingering issues. “This week is getting the ball rolling,” said Nigel Purvis, a former State Department climate negotiator in Democratic and Republican administration. Seth Borenstein, The Associated Press
Since their 2019 launch, Miku has been at the forefront of innovation in contact-free respiratory monitoring. Now Miku announces the Miku Pro Smart Baby Monitor, their newest offering, designed to connect parents to their little ones in a way no monitor has done before. The product features Miku's proprietary SensorFusion™ technology, clinically tested to track breathing and sleeping patterns with no physical contact, delivering industry-leading safety and accuracy.
Ontario Teachers’ Pension Plan Board ("Ontario Teachers’") and Stella Point Capital ("Stella Point") today announced an agreement to sell First American Payment Systems ("First American"), a leader in technology-enabled, electronic payments, to Deluxe (NYSE: DLX) for US$960 million. Ontario Teachers’ and Stella Point will fully exit in conjunction with the transaction, thus successfully concluding their long partnership with First American since 2014.
The scheme will enable holidaymakers to prove they have been vaccinated or recently tested.
Two days after a Minneapolis jury found a white police officer guilty of murdering George Floyd, the city will lay to rest Daunte Wright, another Black man whose violent death has raised fresh concerns over the way police treat people of color. The funeral for Wright, 20, who was shot by a white police officer in a Minneapolis suburb on April 11 after a routine traffic stop, will be attended by a number of high-profile civil rights activists as well as family and friends. The service is scheduled to begin at 12 p.m. CDT (1:00 p.m. ET) at Shiloh Temple International Ministries, a historically Black church in north Minneapolis.
The "Two days International Master Class Strategic Intelligence" conference has been added to ResearchAndMarkets.com's offering.
France's foreign minister on Thursday defended a military takeover in Chad despite objections from the opposition there, saying it was necessary for security amid "exceptional circumstances". The son of Chad's slain leader Idriss Deby took over as president and armed forces commander on Wednesday and dissolved the government and parliament as rebel forces threatened to march on the capital. Under the constitution, the speaker of the National Assembly should have become interim president.
Russia and China will also be taking part in the virtual talks hosted by the White House.View on euronews
LONDON (Reuters) -Output at two of Jaguar Land Rover's (JLR) British car factories will be temporarily halted from Monday, due to COVID-19 supply chain disruption, including a lack of semi-conductors, the firm said on Thursday. "We have adjusted production schedules for certain vehicles which means that our Castle Bromwich and Halewood manufacturing plants will be operating a limited period of non-production from Monday 26th April," the Tata Motors-owned company said. The COVID-19 pandemic has driven up demand for semiconductor chips for use in electronics like computers, as people worked from home, and suppliers are struggling to adjust, hitting output at many automakers.
A break up can trigger 'stress cardiomyopathy'.
Capitalism makes us ‘actively incentivised to harm the planet’, it’s time to protect life on Earth, Dr Gail Bradbrook tells Harry Cockburn
ATLANTA, April 22, 2021 (GLOBE NEWSWIRE) -- Chart Industries, Inc. (NYSE: GTLS) today reported results for the first quarter ended March 31, 2021. Further details can be found in the supplemental presentation included with this release. All figures in this release and supplemental presentation represent our continuing operations in our external reportable segments of Cryogenic Tank Solutions (“CTS”), Heat Transfer Systems (“HTS”), Specialty Products (“Specialty”) and Repair, Service & Leasing (“RSL”). Highlights include: Record orders of $417.2 million (excluding Big LNG), contributing to record backlog of $934.1 million and including orders with 105 new customers and 21 first-of-a-kind (“FOAK”) Reported diluted earnings per share (“EPS”) of $0.63 (+950% or 10.5 times compared to Q1 2020); when adjusted for one-time costs, adjusted diluted EPS was $0.80 (+196% compared to Q1 2020) Gross margin as a percent of sales of 29.1% (29.9% adjusted) is the highest in four years, reflecting the increasing growth of our higher margin business and continued operational execution; gross margin as a percent of sales increased over 100 basis points (both reported and adjusted) when compared to the first quarter 2020 and the fourth quarter 2020 Repair, Service & Leasing and Specialty Products comprised 41.1% of our total net sales, the highest quarter in our history (and compared to 34.1% for FY 2020)Completed acquisition of Cryo Technologies (hydrogen liquefaction) and investments in Svante (carbon capture) and Transform Materials (hydrogen)Full year 2021 guidance of revenue of $1.36 billion to $1.41 billion is an increase from prior outlook of $1.32 billion to $1.38 billion and associated non-diluted adjusted EPS of $3.65 to $4.15, an increase from the prior 2021 outlook of $3.50 to $4.00 2021 started off with momentum. Orders of $417.2 million were the highest in our history (excluding Big LNG), driven by broad based demand, including a recovery in certain end markets, continued demand for our clean products supporting the strongest current macro trend of sustainability, and the combination of larger liquefaction orders for LNG and hydrogen or numerous smaller orders (32 orders over $1 million each in the quarter). This continued record level order activity contributed to record backlog of $934.1 million. Sales of $288.5 million were in line with our expectations when considering typical seasonality as well as the timing shift from the first quarter 2021 to the second quarter 2021 of approximately $10 million of shipments (primarily ISO containers from China) that were shipped in March 2021 but the revenue is recognized in April 2021 and $5 million of Venture Global Calcasieu Pass revenue shift based on delivery schedule. Reported gross margin as a percent of sales of 29.1% (29.9% when adjusted for one-time items) was the highest in four years, reflecting continued operational execution, synergy achievements through integrations and the increasing impact of our higher growth, higher margin businesses which now represent a larger portion of our total revenue. The strength in gross margin coupled with our SG&A cost control resulted in reported diluted earnings per share of $0.63 (10.5 times higher than our $0.06 in the first quarter 2020) and when adjusted for one-time costs, adjusted EPS was $0.80 (inclusive of $0.06 of mark-to-market investment earnings). Adjusted EPS grew 196% when compared to one year ago. Many will ask how the first quarter 2021 compared to quarters before COVID-19, and so we have included this table to compare to the first quarter of 2020 and the first quarter of 2019. Q1 2021Q1 2020Change Backlog934.1723.329.1%Orders417.2285.846.0%Sales288.5301.9-4.4%Reported Gross Margin %29.1%27.3%+180 bpsAdjusted Gross Margin %29.9%28.5%+140 bpsReported Diluted EPS0.630.06950.0%Adjusted Diluted EPS0.800.27196.3% Q1 2021Q1 2019Change Backlog934.1725.128.8%Orders417.2443.1-5.8%Orders Excluding Big LNG417.2310.134.5%Sales288.5269.07.2%Reported Gross Margin %29.1%21.4%+770 bpsAdjusted Gross Margin %29.9%24.8%+510 bpsReported Diluted EPS0.63(0.15)n/aAdjusted Diluted EPS0.800.24233.3% Strategic inorganic and organic investments for growth and productivity are paying off. Demand for our extensive process and equipment offering, in particular for Specialty Products and Repair, Service & Leasing, continues to accelerate, as evidenced by our first quarter 2021 results. RSL and Specialty were 41.1% of our total net sales in the first quarter 2021, the highest quarter for this metric to date (full year 2020 was 34.1% of total net sales). Our Specialty segment had record backlog, orders and gross profitRecord hydrogen orders of $71.2 million more than three times last quarter which was our prior recordFood & Beverage, HLNG vehicle tanks and water treatment each had record salesIn RSL, fans aftermarket and leasing had record sales We booked record hydrogen orders ($71.2 million) in the first quarter 2021, including two 15 ton per day liquefiers for Plug Power. In March 2021, CALSTART, Inc received a $500,000 grant award from the California Energy Commission to develop an actionable hydrogen fuel cell-powered tugboat design that will be ready for construction and implementation at the Port of Los Angeles (called “HyZET”). We, along with our HyZET consortium partners including Ballard Power, will develop a pathway to decarbonize the marine sector by identifying and addressing challenges related to producing, delivering, transferring, and storing liquid hydrogen to power a zero-emission tugboat. In addition to the orders already in backlog, we are working with 214 hydrogen customers and potential customers under 54 non-disclosure agreements (“NDAs”), a significant increase compared to one year ago, when we were in conversations with just over 30 customers about hydrogen equipment, and under four NDA’s. As the hydrogen industry accelerates, we are proud to be one of 11 founding member companies of Hydrogen Forward, focused on advancing hydrogen development in the United States, co-lead with Reliance Industries the India Hydrogen Alliance (“IH2A”) to promote hydrogen as a fuel and complement renewables and be a cornerstone investor in the Five T Hydrogen Fund, the world’s first hydrogen-only fund which plans to begin investing in early 2022. Also, in the first quarter 2021, we announced our investment and commercial agreements with Transform Materials, a company with a unique hydrogen and acetylene process, and the acquisition of Cryo Technologies (“CT”), which closed on February 16, 2021. These inorganic investments are already resulting in an increased commercial pipeline for global liquefaction opportunities. The combination of CT and Chart brings both of our liquefaction engineering expertise together, Chart’s capabilities in precooling, brazed aluminum heat exchangers and cold box fabrication, and the high demand in the market for full liquefaction and equipment offerings, in particular on hydrogen and helium. This morning we received a Letter of Intent (“LOI”) for CT’s helium liquefaction large scale Helium plant for one of the largest independent oil and gas producers in Russia. The scope of our supply for the minimum 5 million liter per year helium plant includes equipment supply for the plant, commissioning and start-up and the order is expected to be greater than $40 million. In keeping with our strategy, we do not have construction responsibility for the project. Our near-term addressable market for our existing product offering for hydrogen is sized at $2.3 billion, and since the beginning of 2020 we have already booked orders of $109.3 million (of which $94.7 million of orders were in the past two quarters). More details can be found in the supplemental presentation at the end of this release on slide seven. Another strategic, synergistic acquisition that touches on the clean revolution, this time clean water, was completed in November 2020. BlueInGreen (“BIG”) brought us a full dissolution water treatment package, inclusive of both technology and equipment, and we booked $1.7 million of orders in the first quarter 2021, bringing our total orders since the BIG acquisition to 14 where we sold both BIG technology and Chart equipment together ($5.5 million). With President Biden’s proposed American Jobs Plan expected to include spending of over $100 billion toward the United States’ aging water systems, we anticipate the demand for this part of our nexus of clean products and technologies to accelerate. And while carbon capture and direct air capture are in earlier growth stages than hydrogen or water treatment, the U.S. Infrastructure Plan also includes a focus on building CCUS facilities and expanding the 45Q tax credit, which further supports our view that carbon capture is a high potential breakout market for Chart products and technologies. It is not only driven by opportunities in the U.S., but also our pipeline of various stage quoting activity for carbon and direct air capture that is global – ranging from the Middle East to Norway to Canada to Mexico, among others. With over 80 projects in various stages of our commercial pipeline (compared to ~20 only six months ago), we are excited for the increasing global government support coupled with our expanded technology offering. In the first quarter 2021, we completed a $15 million investment in Svante, a carbon capture technology company listed in the Global Cleantech 100, for just under 10% ownership alongside other investors including Suncor. We continue to organically grow our repair, service and leasing business, both through investments in a larger fleet and strategic repair locations. This is returning to us immediately, with 44 new leases signed in the first quarter of 2021, compared to 28 new leases signed in the fourth quarter 2020 and five new leases signed in the first quarter of 2020. Additionally, February was our first month with leasing revenue greater than $1 million, and this grew an additional 250% in March 2021. RSL is set to have an extraordinary and record second quarter 2021 due to the timing of the ISO container shipments mentioned above that moved from the first quarter 2021 to the second quarter 2021. Beyond leasing, the repair and service business continues to gain traction in Europe, with a newly minted service & maintenance long-term agreement with Gasum for their LNG fueling station network in Finland and Sweden. “Record orders (excluding Big LNG) across the broader business in the first quarter 2021, couple with continued execution on profitability set us up early (and often) for a very strong second half of 2021,” stated Jill Evanko, Chart’s CEO and President. “We are seeing immediate benefit from our strategic inorganic investments in the order book as reflected in our record backlog, and the momentum in the clean revolution – clean energy, clean water, clean food and clean industrial – is just getting started.” We continue to see strong demand for new and unique FOAK projects, not just from our existing customers but also from our new customers (105 in Q1 2021 of which 72 were outside of North America). We booked 21 FOAK orders in the first quarter of 2021, including the first liquid nitrous oxide VIP system for dosing for La Colombe Coffee Roasters and a $47 million order with New Fortress Energy for their Fast LNG first-of-a-kind 1.4 MTPA liquefier. Speaking of LNG, HLNG vehicle tanks continued the “record” streak that began in the fourth quarter of 2020, outpacing prior periods again in the first quarter of 2021 with record sales and orders of $28.3 million, just under last quarter’s record ($29.1 million). This is driven by expanded interest in LNG over the road trucking from customers and geographies as well as growing restrictions on diesel trucking in Europe. Since January 2021, nighttime transit for diesel Euro IV trucks on the Inntal motorway in Austria is not allowed, so LNG trucks allow for business owners to continue to transport goods overnight. For example, OMV Turkey is using LNG trucks (with Chart tanks!) and increasing activity for LNG trucks and buses in locations such as Japan and India. The core business is recovering and gaining momentum.It is not just Specialty and RSL that are coming out of the gate strong in 2021. Record Cryo Tank Solutions backlog of $245.8 million as of March 31, 2021 is up 10.6% over the fourth quarter of 2020. Record orders and sales in CTS mobile equipment in the first quarter 2021 supported this increasing backlog, and with record trailer orders in the quarter (both units and dollars), we are increasing our CTS sales outlook for the full year 2021 on mobile equipment specifically (see 2021 guidance below). Strong first quarter 2021 ORCA unit orders are a leading indicator for continued strong Perma sales throughout the remainder of the year. Our China business also contributed to the strong first quarter, with record backlog and record first quarter sales. Additionally, global ISO Container demand continued at heightened levels as the new year started. We booked orders for 121 ISO containers and shipped 99 units in the first quarter of 2021. Industrial gas major customer activity as well as independent distributor activity was the strongest it has been since pre-COVID levels. One of our top five IG major customers ordered the most in their history with us in March 2021 in any one month, and we expect, as more COVID-19 restrictions are lifted, increased industrial gas customer activity. Our most cyclical business is Heat Transfer Systems and the first quarter 2021 showed the beginning of signs of recovery, yet not fully embedded. For example, upstream and process inquiries increased by 25% from February 2021 to March 2021, and while not yet translating at that level of order book, pricing and asset utilization is holding steady. First quarter 2021 orders of $105 million increased 15% from the first quarter 2020, driven by a $47 million order for NFE’s FastLNG liquefaction as well as growth in petrochemical applications internationally. We continue to expect small-scale LNG (“ssLNG”) and LNG infrastructure to grow, not only in the United States but in locations where the first step in the energy transition is to move from coal to another, cost effective and readily available power source such as carbon neutral LNG (as evidenced by the formation of Japan’s new Carbon Neutral LNG Buyers Alliance). Additionally, while there is recovery in traditional fuel applications, our HTS equipment is being sought after through (and reflected in) the Specialty segment for applications ranging from carbon capture solutions to biogas. Even the traditionalists are exploring “going green”, with upgrades and retrofits trending toward heat recovery, geothermal applications and green diesel projects. Replacement activity in HTS is increasing, consistent with existing plants running at high capacities, benefitting our RSL segment. We expect that the need for backup supply and peak shaving capabilities in places such as Texas (USA) will benefit our order book in 2021. Expecting strong Free Cash Flow (“FCF”) in 2021.First quarter 2021 free cash flow of ($3.2) million after $11.5 million of capital expenditures was in line with our typical first quarter FCF seasonality being the lowest quarter of the year. The first quarter 2021 FCF was also impacted by the following three factors.(1) timing of the ISO container revenue recognition that shifted from Q1 2021 to Q2 2021 will directly and positively impact FCF in the second quarter 2021. (2) Strength in March 2021 orders for HLNG vehicle tanks and beverage equipment drove an increase in inventory in the first quarter 2021; these products typically have a four to eight week lead-time and therefore end of quarter inventory levels reflected this book to bill timing. (3) And finally, the necessity to have material available for the on-time delivery of our remainder of the year shipments and strong orders on longer lead-time products such as trailers and railcars will contribute to our anticipated strong second half 2021 FCF. We expect adjusted FCF to sequentially increase each quarter this year given the shipment forecast for the remainder of 2021, and we are increasing our expected full year 2021 free cash flow outlook to be between $200 million and $220 million. Full year 2021 guidance: Each quarter in 2021 will be better than the prior. Full year 2021 sales are expected to be approximately $1.36 billion to $1.41 billion, inclusive of $21 million of Venture Global’s Calcasieu Pass revenue ($5 million remaining to ship) as well as $30 million of expected 2021 revenue from the acquisition of CT. This is an increase over the prior full year 2021 sales guidance of $1.32 billion to $1.38 billion, resulting from the strong first quarter 2021 order book, including specific liquefaction projects for Plug Power (hydrogen) and New Fortress Energy (FastLNG) and commercial opportunities increasing from our inorganic investments and acquisitions completed in the past six months. There is no additional Big LNG revenue included in our outlook although we believe at least one new order will be received during the year. As we have indicated previously, there are many moving pieces that contribute to a range, and we have provided a walk to our view of a point in the range by segment and major market category in the supplemental presentation on slide 14 (the prior walk is included in the appendix of the presentation on slide 19). This year, we expect the first half of 2021 to be lower than the second half of 2021 based on the lead-time of our backlog, and more specifically, we expect each quarter to sequentially increase over the prior quarter this year. We anticipate full year non-diluted adjusted earnings per share to be approximately $3.65 to $4.15 on 35.5 million weighted average shares outstanding, up from our previous estimate of $3.50 to $4.00 per share. Our assumed effective tax rate is 18% for the full year 2021. Our expected capital expenditure outlook is unchanged from our prior guidance and is expected to be in the $40 million to $50 million range, driven by organic investments in our high growth areas inclusive of expanding product capabilities in our Teddy Trailer and Tank facility, completion of our repair and service facility in South Carolina, USA, R&D new product development for hydrogen and continued targeted lease fleet expansion. FORWARD-LOOKING STATEMENTS Certain statements made in this presentation are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements concerning the Company’s business plans, including statements regarding completed acquisitions, divestitures, and investments, cost synergies and efficiency savings, objectives, future orders, revenues, margins, earnings or performance, liquidity and cash flow, capital expenditures, business trends, clean energy market opportunities, governmental initiatives, including executive orders and other information that is not historical in nature. Forward-looking statements may be identified by terminology such as "may," "will," "should," "could," "expects," "anticipates," "believes," "projects," "forecasts," “outlook,” “guidance,” "continue," “target,” or the negative of such terms or comparable terminology. Forward-looking statements contained in this presentation or in other statements made by the Company are made based on management's expectations and beliefs concerning future events impacting the Company and are subject to uncertainties and factors relating to the Company's operations and business environment, all of which are difficult to predict and many of which are beyond the Company's control, that could cause the Company's actual results to differ materially from those matters expressed or implied by forward-looking statements. Factors that could cause the Company’s actual results to differ materially from those described in the forward-looking statements include: the Company’s ability to successfully integrate recent acquisitions and achieve the anticipated revenue, earnings, accretion and other benefits from these acquisitions; slower than anticipated growth and market acceptance of new clean energy product offerings; risks relating to the recent outbreak and continued uncertainty associated with the coronavirus (COVID-19) and the other factors discussed in Item 1A (Risk Factors) in the Company’s most recent Annual Report on Form 10-K filed with the SEC, which should be reviewed carefully. The Company undertakes no obligation to update or revise any forward-looking statement. USE OF NON-GAAP FINANCIAL INFORMATION This presentation contains non-GAAP financial information, including adjusted gross margin as a percent of sales, adjusted earnings per diluted and non-diluted share, net income attributable to Chart Industries, Inc. adjusted, and free cash flow. For additional information regarding the Company's use of non-GAAP financial information, as well as reconciliations of non-GAAP financial measures to the most directly comparable financial measures calculated and presented in accordance with accounting principles generally accepted in the United States ("GAAP"), please see the reconciliation pages at the end of this news release and the slides titled "First Quarter 2021 Earnings Per Share," and “Q1 2021 Free Cash Flow” included in the supplemental slides accompanying this release. The Company believes these non-GAAP measures are of interest to investors and facilitate useful period-to-period comparisons of the Company’s financial results, and this information is used by the Company in evaluating internal performance. With respect to the Company’s 2021 full year earnings outlook, the Company is not able to provide a reconciliation of the adjusted earnings per non-diluted share or adjusted FCF because certain items may have not yet occurred or are out of the Company’s control and/or cannot be reasonably predicted. CONFERENCE CALL As previously announced, the Company will discuss its first quarter 2021 financial results on a conference call on Thursday, April 22, 2021 at 9:30 a.m. ET. Participants may join the conference call by dialing (877) 312-9395 in the U.S. or (970) 315-0456 from outside the U.S., entering conference ID 1269077. Please log-in or dial-in at least five minutes prior to the start time. A taped replay of the conference call will be archived on the Company’s website, www.chartindustries.com. You may also listen to a recorded replay of the conference call by dialing (855) 859-2056 in the U.S. or (404) 537-3406 outside the U.S. and entering Conference ID 1269077. The replay will be available beginning 12:30 p.m. ET, Thursday, April 22, 2021 until 12:30 p.m. ET, Thursday, April 29, 2021. About Chart Industries, Inc.Chart Industries, Inc. is a leading independent global manufacturer of highly engineered equipment servicing multiple applications in the Energy and Industrial Gas markets. Our unique product portfolio is used in every phase of the liquid gas supply chain, including upfront engineering, service and repair. Being at the forefront of the clean energy transition, Chart is a leading provider of technology, equipment and services related to liquefied natural gas, hydrogen, biogas and CO2 Capture amongst other applications. We are committed to excellence in environmental, social and corporate governance (ESG) issues both for our company as well as our customers. With over 25 global locations from the United States to Asia, Australia, India, Europe and South America, we maintain accountability and transparency to our team members, suppliers, customers and communities. To learn more, visit www.Chartindustries.com. About CALSTART A national nonprofit consortium with offices in New York, Michigan, Colorado and California and partners world-wide, CALSTART works with 280+ member company and agency innovators to build a prosperous, efficient and clean high-tech transportation industry. We overcome barriers to modernization and the adoption of clean vehicles. CALSTART is changing transportation for good. CALSTART.org For more information, click here: http://ir.chartindustries.com/ See URL below for a link to our Supplemental Information for our 2021 First Quarter Results: http://ml.globenewswire.com/Resource/Download/b1f05227-9043-411a-a748-6fc97c3ea9c4 Investor Relations Contact: Wade Suki, CFADirector of Investor Relations832firstname.lastname@example.org CHART INDUSTRIES, INC. AND SUBSIDIARIESCONDENSED CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED)(Dollars and shares in millions, except per share amounts) Three Months Ended March 31, 2021 March 31, 2020 December 31, 2020Sales$288.5 $301.9 $312.4 Cost of sales204.6 219.6 224.5 Gross profit83.9 82.3 87.9 Selling, general, and administrative expenses46.2 52.5 41.0 Amortization expense8.8 14.0 8.4 Asset impairments (1)— — 16.0 Operating expenses55.0 66.5 65.4 Operating income (2) (3) (4) (5)28.9 15.8 22.5 Interest expense, net2.0 7.2 (3.5)Gain on bargain purchase— — (5.0)Unrealized (gain) loss on investments in equity securities(3.3) 4.8 (16.3)Financing costs amortization1.2 1.0 1.1 Foreign currency (gain) loss and other(0.2) 0.3 2.3 Income from continuing operations before income taxes29.2 2.5 43.9 Income tax expense3.1 0.4 6.0 Net income from continuing operations26.1 2.1 37.9 Income from discontinued operations, net of tax (6)— 6.4 220.3 Net income26.1 8.5 258.2 Less: Income attributable to noncontrolling interests of continuing operations, net of taxes0.5 — 0.4 Net income attributable to Chart Industries, Inc.$25.6 $8.5 $257.8 Net income attributable to Chart Industries, Inc. Income from continuing operations$25.6 $2.1 $37.5 Income from discontinued operations, net of tax (6)— 6.4 220.3 Net income attributable to Chart Industries, Inc.$25.6 $8.5 $257.8 Basic earnings per common share attributable to Chart Industries, Inc.: Income from continuing operations$0.72 $0.06 $1.06 Income from discontinued operations— 0.18 6.23 Net income attributable to Chart Industries, Inc.$0.72 $0.24 $7.29 Diluted earnings per common share attributable to Chart Industries, Inc. Income from continuing operations (7) (8)$0.63 $0.06 $0.97 Income from discontinued operations— 0.18 5.72 Net income attributable to Chart Industries, Inc.$0.63 $0.24 $6.69 Weighted-average number of common shares outstanding: Basic35.55 35.77 35.34 Diluted40.62 36.01 38.55 _______________(1) Includes $16.0 impairment of our trademarks and trade names indefinite-lived intangible assets related to the AXC business in our Heat Transfer Systems segment for the three months ended December 31, 2020. (2) Includes depreciation expense of: $10.7, $9.6 and $9.3 for the three months ended March 31, 2021, 2020 and December 31, 2020, respectively. (3) Includes restructuring costs of: $0.7, $5.2, and $0.9 for the three months ended March 31, 2021, March 31, 2020 and December 31, 2020, respectively. (4) Includes acquisition-related contingent consideration adjustments of $0.8 in our Specialty Products segment for the three months ended March 31, 2021. (5) Includes transaction-related costs of $2.6 for the three months ended December 31, 2020, which were mainly related to the Sustainable Energy Solutions, Inc., BlueInGreen, LLC and Alabama Trailers acquisitions. (6) Includes gain on sale of our cryobiological products business of $224.2, net of taxes of $25.2, for the fourth quarter 2020. (7) Includes an additional 4.74 shares related to the convertible notes due 2024 and associated warrants in our diluted earnings per share calculation for the first quarter 2021. The associated hedge, which helps offset this dilution, cannot be taken into account under U.S. generally accepted accounting principles (“GAAP”). If the hedge could have been considered, it would have reduced the additional shares by 2.57 for the first quarter 2021. (8) Includes an additional 2.84 shares related to the convertible notes due 2024 and associated warrants in our diluted earnings per share calculation for the fourth quarter 2020. The associated hedge, which helps offset this dilution, cannot be taken into account under U.S. GAAP. If the hedge could have been considered, it would have reduced the additional shares by 1.72 for the fourth quarter 2020. CHART INDUSTRIES, INC. AND SUBSIDIARIESCONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)(Dollars in millions) Three Months Ended March 31, 2021 March 31, 2020 December 31, 2020Net Cash Provided By Operating Activities$8.3 $25.5 $60.2 Investing Activities Proceeds from sale of businesses— — 317.5 Acquisition of businesses, net of cash acquired(55.0) — (51.9)Investments(40.0) — (50.8)Capital expenditures (1)(11.5) (10.3) (10.6)Government grants0.2 0.1 0.2 Net Cash (Used In) Provided By Investing Activities(106.3) (10.2) 204.4 Financing Activities Borrowings on revolving credit facilities187.7 64.5 120.5 Repayments on revolving credit facilities(102.5) (84.7) (56.0)Repayments on term loan— (2.8) (335.7)Proceeds from exercise of stock options5.6 2.0 6.8 Common stock repurchases from share-based compensation plans(3.0) (1.7) (0.2)Common stock repurchases (2)— (19.3) — Net Cash Provided By (Used In) Financing Activities87.8 (42.0) (264.6)Effect of exchange rate changes on cash— (3.0) 4.4 Net (decrease) increase in cash, cash equivalents, restricted cash, and restricted cash equivalents(10.2) (29.7) 4.4 Cash, cash equivalents, restricted cash, and restricted cash equivalents at beginning of period (3)126.1 120.0 121.7 CASH, CASH EQUIVALENTS, RESTRICTED CASH, AND RESTRICTED CASH EQUIVALENTS AT END OF PERIOD (3)$115.9 $90.3 $126.1 _______________(1) Includes capital expenditures for discontinued operations $0.2 for the three months ended March 31, 2020. (2) Includes $19.3 in shares repurchased through our share repurchase program. On March 11, 2021, the share repurchase program expired with no further repurchases. (3) Includes restricted cash and restricted cash equivalents of $1.0 for all periods presented. CHART INDUSTRIES, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED)(Dollars in millions) March 31,2021 December 31,2020ASSETS Cash and cash equivalents$114.9 $125.1 Accounts receivable, net186.4 200.8 Inventories, net279.9 248.4 Other current assets132.6 128.7 Property, plant, and equipment, net409.3 414.5 Goodwill911.3 865.9 Identifiable intangible assets, net481.4 493.1 Investments119.9 78.9 Other assets16.6 15.1 TOTAL ASSETS$2,652.3 $2,570.5 LIABILITIES AND EQUITY Current liabilities$660.3 $634.8 Long-term debt303.1 221.6 Other long-term liabilities122.9 134.8 Equity1,566.0 1,579.3 TOTAL LIABILITIES AND EQUITY$2,652.3 $2,570.5 CHART INDUSTRIES, INC. AND SUBSIDIARIESOPERATING SEGMENTS (UNAUDITED)(Dollars in millions) Three Months Ended March 31, 2021 March 31, 2020 December 31, 2020Sales Cryo Tank Solutions$103.9 $98.0 $110.5 Heat Transfer Systems69.2 112.9 78.9 Specialty Products77.3 52.9 85.1 Repair, Service & Leasing41.4 40.7 41.0 Intersegment eliminations(3.3) (2.6) (3.1)Consolidated$288.5 $301.9 $312.4 Gross Profit Cryo Tank Solutions$25.2 $24.1 $24.0 Heat Transfer Systems15.8 26.1 19.5 Specialty Products28.2 20.3 26.5 Repair, Service & Leasing14.7 11.8 17.9 Consolidated$83.9 $82.3 $87.9 Gross Profit Margin Cryo Tank Solutions24.3 % 24.6 % 21.7 %Heat Transfer Systems22.8 % 23.1 % 24.7 %Specialty Products36.5 % 38.4 % 31.1 %Repair, Service & Leasing35.5 % 29.0 % 43.7 %Consolidated29.1 % 27.3 % 28.1 %Operating Income (Loss) Cryo Tank Solutions$15.6 $11.6 $11.2 Heat Transfer Systems3.9 5.5 (9.9)Specialty Products17.9 13.8 19.9 Repair, Service & Leasing8.3 4.6 12.1 Corporate(16.8) (19.7) (10.8)Consolidated (1) (2) (3)$28.9 $15.8 $22.5 Operating Margin (Loss) Cryo Tank Solutions15.0 % 11.8 % 10.1%Heat Transfer Systems5.6 % 4.9 % (12.5)%Specialty Products23.2 % 26.1 % 23.4 %Repair, Service & Leasing20.0 % 11.3 % 29.5 %Consolidated10.0 % 5.2 % 7.2 % _______________(1) Restructuring costs (credits) for the three months ended: March 31, 2021 were $0.7 ($0.3 - Cryo Tank Solutions, $0.4 - Heat Transfer Systems).March 31, 2020 were $5.2 ($1.8 - Cryo Tank Solutions, $2.8 - Heat Transfer Systems, and $0.6 - Corporate).December 31, 2020 were $0.9 ($0.1 - Cryo Tank Solutions, $0.6 - Heat Transfer Systems, $0.3 - Specialty Products, and $(0.1) - Corporate). (2) Includes $16.0 impairment of our trademarks and trade names indefinite-lived intangible assets related to the AXC business in our Heat Transfer Systems segment for the three months ended December 31, 2020. (3) Includes acquisition-related contingent consideration adjustments of $0.8 in our Specialty Products segment for the three months ended March 31, 2021. CHART INDUSTRIES, INC. AND SUBSIDIARIESORDERS AND BACKLOG (UNAUDITED)(Dollars in millions) Three Months Ended March 31,2021 March 31,2020 December 31,2020Orders Cryo Tank Solutions$129.5 $100.9 $132.0 Heat Transfer Systems104.9 91.6 139.9 Specialty Products144.5 57.1 94.4 Repair, Service & Leasing40.5 42.9 54.5 Intersegment eliminations(2.2) (6.7) (3.8)Consolidated$417.2 $285.8 $417.0 As of March 31,2021 March 31,2020 December 31,2020Backlog Cryo Tank Solutions$245.8 $222.3 $222.6 Heat Transfer Systems (1)361.4 334.4 329.2 Specialty Products270.5 130.3 199.7 Repair, Service & Leasing57.4 39.9 63.1 Intersegment eliminations(1.0) (3.6) (4.6)Consolidated$934.1 $723.3 $810.0 _______________(1) Heat Transfer Systems segment backlog as of March 31, 2021, March 31, 2020 and December 31, 2020 was inclusive of $6.4, $93.0 and $21.0 of backlog remaining on Calcasieu Pass, respectively. Also included in Heat Transfer Systems segment backlog for all periods presented is approximately $40.0 million related to the previously announced Magnolia LNG order where production release is delayed. As we previously reported, in general, similar projects previously put on hold in the market are beginning to move ahead as the clean energy infrastructure build out ramps up. CHART INDUSTRIES, INC. AND SUBSIDIARIESRECONCILIATION OF EARNINGS PER DILUTED SHARE TO ADJUSTED EARNINGS PER DILUTED SHARE (UNAUDITED)(Dollars in millions, except per share amounts) Three Months Ended March 31, 2021 March 31, 2020Diluted earnings per common share attributable to Chart Industries, Inc. – continuing operations (U.S. GAAP)$0.63 $0.06 Restructuring, transaction-related and other costs (1)0.10 0.19 Other one-time costs (2)0.04 0.05 Dilution impact of convertible notes (3) (4)0.05 — Tax effects(0.02) (0.03)Adjusted diluted earnings per common share attributable to Chart Industries, Inc. – continuing operations (non-GAAP)$0.80 $0.27 Mark-to-market adjustments to investments in equity securities (5)$(0.08) $0.15 Tax effects0.02 (0.03)Adjusted diluted earnings per common share, excluding strategic investments, attributable to Chart Industries, Inc. – continuing operations (non-GAAP)$0.74 $0.39 Three Months Ended March 31, 2021 March 31, 2020Diluted earnings per common share attributable to Chart Industries, Inc. – discontinued operations (U.S. GAAP)$— $0.18 Adjusted diluted earnings per common share attributable to Chart Industries, Inc. – discontinued operations (U.S. GAAP)$— $0.18 Three Months Ended March 31, 2021 March 31, 2020Diluted earnings per common share attributable to Chart Industries, Inc. – consolidated (U.S. GAAP)$0.63 $0.24 Restructuring, transaction-related and other costs (1)0.10 0.19 Other one-time costs (2)0.04 0.05 Dilution impact of convertible notes (3) (4)0.05 — Tax effects(0.02) (0.03)Adjusted diluted earnings per common share attributable to Chart Industries, Inc. – consolidated (non-GAAP)$0.80 $0.45 Mark-to-market adjustments to investments in equity securities (5)(0.08) 0.15 Tax effects0.02 (0.03)Adjusted diluted earnings per common share, excluding strategic investments, attributable to Chart Industries, Inc. – consolidated (non-GAAP)$0.74 $0.57 ______________(1) Restructuring, transaction-related and other costs were as follows: During the first quarter of 2021, we recorded $0.7 in restructuring costs, primarily related to headcount reductions and facility relocation and moving expenses.During the first quarter of 2020, we recorded $5.2 in restructuring costs, primarily related to headcount reductions, in order to manage through a downturn in our Heat Transfer Systems segment and smaller reductions in our other segments and corporate in order to reduce redundant work. (2) Other one-time costs include commercial and legal settlements, and Covid-19 related costs, which include freight, sourcing and safety costs directly related to manufacture and fulfillment of critical care products. (3) Includes an additional 4.74 shares related to the convertible notes due 2024 and associated warrants in our diluted earnings per share calculation for the first quarter 2021. The associated hedge, which helps offset this dilution, cannot be taken into account under U.S. GAAP. If the hedge could have been considered, it would have reduced the additional shares by 2.57 for the first quarter 2021. (4) Includes an additional 2.84 shares related to the convertible notes due 2024 and associated warrants in our diluted earnings per share calculation for the fourth quarter 2020. The associated hedge, which helps offset this dilution, cannot be taken into account under U.S. GAAP. If the hedge could have been considered, it would have reduced the additional shares by 1.72 for the fourth quarter 2020. (5) Includes mark-to-market fair value adjustments of our investments in equity securities related to Stabilis and McPhy for the first quarter 2021 and Stabilis for the first quarter 2020. Adjusted earnings per diluted share is not a measure of financial performance under U.S. GAAP and should not be considered as an alternative to earnings per share in accordance with U.S. GAAP. Management believes that adjusted earnings per share facilitates useful period-to-period comparisons of our financial results and this information is used by us in evaluating internal performance. Our calculation of this non-GAAP measure may not be comparable to the calculations of similarly titled measures reported by other companies. CHART INDUSTRIES, INC. AND SUBSIDIARIESRECONCILIATION OF NET INCOME ATTRIBUTABLE TO CHART INDUSTRIES, INC. TO NET INCOME ATTRIBUTABLE TO CHART INDUSTRIES, INC., ADJUSTED (UNAUDITED)(Dollars in millions) Three Months Ended March 31, 2021 March 31, 2020 December 31, 2020Net income attributable to Chart Industries, Inc., (U.S. GAAP)$25.6 $8.5 $257.8 Income attributable to noncontrolling interests, net of taxes (U.S. GAAP)0.5 — 0.4 Net Income (U.S. GAAP)26.1 8.5 258.2 Gain on sale of business— — (249.4)Gain on bargain purchase— — (5.0)Asset impairments— — 16.0 Interest accretion of convertible notes discount— 1.9 2.1 Employee share-based compensation expense3.4 2.9 1.8 Financing costs amortization1.2 1.0 1.1 Unrealized foreign currency transaction (gain) loss(4.6) — 5.4 Unrealized (gain) loss on investment in equity securities(3.3) 4.8 (16.3)Deferred income tax expense— — 1.0 Other non-cash operating activities1.9 3.2 4.2 Income from continuing operations attributable to Chart Industries, Inc., adjusted (non-GAAP)$24.7 $22.3 $19.1 _______________Income from continuing operations attributable to Chart Industries, Inc., adjusted is not a measure of financial performance under U.S. GAAP and should not be considered as an alternative to net income in accordance with U.S. GAAP. Management believes that Income from continuing operations attributable to Chart Industries, Inc., adjusted, facilitates useful period-to-period comparisons of our financial results and this information is used by us in evaluating internal performance. Our calculation of this non-GAAP measure may not be comparable to the calculations of similarly titled measures reported by other companies. RECONCILIATION OF NET CASH PROVIDED BY OPERATING ACTIVITIES FROM CONTINUING OPERATIONS TO FREE CASH FLOW (UNAUDITED)(Dollars in millions) Three Months Ended March 31, 2021 March 31, 2020 December 31, 2020Net cash provided by operating activities from continuing operations$8.3 $25.5 $60.2 Capital expenditures(11.5) (10.3) (10.6)Free cash flow (non-GAAP)$(3.2) $15.2 $49.6 _______________Free cash flow is not a measure of financial performance under U.S. GAAP and should not be considered as an alternative to net cash provided by operating activities from continuing operations in accordance with U.S. GAAP. Management believes that free cash flow facilitates useful period-to-period comparisons of our financial results and this information is used by us in evaluating internal performance. Our calculation of this non-GAAP measure may not be comparable to the calculations of similarly titled measures reported by other companies. CHART INDUSTRIES, INC. AND SUBSIDIARIESRECONCILIATION OF GROSS PROFIT TO ADJUSTED GROSS PROFIT AND SELLING, GENERAL AND ADMINISTRATIVE EXPENSES TO ADJUSTED SELLING, GENERAL AND ADMINISTRATIVE EXPENSES (UNAUDITED)(Dollars in millions) Three Months Ended March 31, 2021 Cryo Tank Solutions Heat Transfer Systems Specialty Products Repair, Service & Leasing Intersegment Eliminations Corporate ConsolidatedSales$103.9 $69.2 $77.3 41.4 $(3.3) $— $288.5 Gross profit as reported (U.S. GAAP)25.2 15.8 28.2 41.4 — — 83.9 Restructuring, transaction-related and other one-time costs— 1.4 0.8 0.1 — — 2.3 Adjusted gross profit (non-GAAP)$25.2 $17.2 $29.0 $14.8 $— $— $86.2 Adjusted gross profit margin (non-GAAP)24.3 % 24.9 % 37.5 % 35.7 % — % — % 29.9 % Selling, general and administrative expenses as reported (U.S. GAAP)$8.9 $7.0 $9.1 $4.4 $— $16.8 $46.2 Restructuring, transaction-related and other one-time costs(0.2) (0.1) (0.9) — — (1.9) (3.1)Adjusted selling, general and administrative expenses (non-GAAP)$8.7 $6.9 $8.2 $4.4 $— $14.9 $43.1 Three Months Ended December 31, 2020 Cryo Tank Solutions Heat Transfer Systems Specialty Products Repair, Service & Leasing Intersegment Eliminations Corporate ConsolidatedSales$110.5 $78.9 $85.1 $41.0 $(3.1) $— $312.4 Gross profit as reported (U.S. GAAP)24.0 19.5 26.5 $17.9 — — 87.9 Restructuring, transaction-related and other one-time costs0.7 0.7 — 0.5 — — 1.9 Adjusted gross profit (non-GAAP)$24.7 $20.2 $26.5 $18.4 $— $— $89.8 Adjusted gross profit margin (non-GAAP)22.4 % 25.6 % 31.1 % 44.9 % — % —% 28.7 % Selling, general and administrative expenses as reported (U.S. GAAP)$11.6 $8.2 $6.4 $4.1 $— $10.7 $41.0 Restructuring, transaction-related and other one-time costs— (0.2) — (0.1) — 0.1 (0.2)Adjusted selling, general and administrative expenses (non-GAAP)$11.6 $8.0 $6.4 $4.0 $— $10.8 $40.8 CHART INDUSTRIES, INC. AND SUBSIDIARIESRECONCILIATION OF GROSS PROFIT TO ADJUSTED GROSS PROFIT AND SELLING, GENERAL AND ADMINISTRATIVE EXPENSES TO ADJUSTED SELLING, GENERAL AND ADMINISTRATIVE EXPENSES (UNAUDITED) (CONTINUED)(Dollars in millions) Three Months Ended March 31, 2020 Cryo Tank Solutions Heat Transfer Systems Specialty Products Repair, Service & Leasing Intersegment Eliminations Corporate ConsolidatedSales$98.0 $112.9 $52.9 $40.7 $(2.6) $— $301.9 Gross profit as reported (U.S. GAAP)24.1 26.1 20.3 11.8 — — 82.3 Restructuring, transaction-related and other one-time costs0.1 2.0 1.0 0.7 — — 3.8 Adjusted gross profit (non-GAAP)$24.2 $28.1 $21.3 $12.5 $— $— $86.1 Adjusted gross profit margin (non-GAAP)24.7 % 24.9 % 40.3 % 30.7 % — % — % 28.5 % Selling, general and administrative expenses as reported (U.S. GAAP)$11.1 $11.2 $6.1 $4.4 $— $19.7 $52.5 Restructuring, transaction-related and other one-time costs(0.9) (1.1) (0.5) (0.7) — (1.4) (4.6)Adjusted selling, general and administrative expenses (non-GAAP)$10.2 $10.1 $5.6 $3.7 $— $18.3 $47.9 CHART INDUSTRIES, INC. AND SUBSIDIARIESRECONCILIATION OF GROSS PROFIT TO ADJUSTED GROSS PROFIT (UNAUDITED)(Dollars in millions) Three Months Ended March 31, 2019 Cryo Tank Solutions Heat Transfer Systems Specialty Products Repair, Service & Leasing Intersegment Eliminations Corporate ConsolidatedSales$98.6 $83.7 $52.1 $35.9 $(1.3) $— $269.0 Gross profit as reported (U.S. GAAP)17.0 13.2 19.2 8.2 — — 57.6 Restructuring, transaction-related and other one-time costs5.0 1.6 — 2.4 — — 9.0 Adjusted gross profit (non-GAAP)$22.0 $14.8 $19.2 $10.6 $— $— $66.6 Adjusted gross profit margin (non-GAAP)22.3% 17.7% 36.9% 29.5% — % —% 24.8% _______________Adjusted gross profit, adjusted gross profit margin and adjusted selling, general and administrative expenses are not measures of financial performance under U.S. GAAP and should not be considered as an alternative to gross profit, gross profit margin and selling, general and administrative expenses in accordance with U.S. GAAP. Management believes that adjusted gross profit, adjusted gross profit margin and adjusted selling, general and administrative expenses facilitate useful period-to-period comparisons of our financial results and this information is used by us in evaluating internal performance. Our calculations of these non-GAAP measures may not be comparable to the calculations of similarly titled measures reported by other companies.
Dublin, April 22, 2021 (GLOBE NEWSWIRE) -- The "Sapphire Glass Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026" report has been added to ResearchAndMarkets.com's offering. The global sapphire glass market reached a value of US$ 808 Million in 2020. Sapphire glass is a synthetically manufactured crystal that exhibits similar hardness as diamond, which makes it highly durable. Typically produced in cylindrical sticks, called boules, the production of sapphire glass is an expensive, energy-intensive and slow process. It features high resistance to thermal shock with a melting point of 2030 degrees Celsius, coupled with a compressive strength of 2000 mega Pascals, which makes it stronger than stainless steel. The durable properties of sapphire glass make it ideal for use in the manufacturing of consumer electronic devices that utilize digital output displays, such as tablets, smartphones and laptops. Other than this, sapphire glass is also used in the production of products such as watches, bullet-proof glass, windows of armored vehicles, and visors or screens in military body armor suits.In recent years, there has been a significant rise in the usage of sapphire glass in various sectors, including defense, military, safety equipment and medical devices. In the defense and aerospace industries, sapphire glass is widely utilized in commercial aircraft, such as Gulfstream, and military platforms, such as the F-35 Joint Strike Fighter. Besides this, manufacturers across the globe are increasingly using this material in the production of transparent armor systems, countermeasure systems, electro-optical windows, and vision systems. The escalating demand for sapphire glass can also be attributed to the increasing production of medical surgical systems, where it is used in optical medical analysis devices. Moreover, sapphire glass is widely required in volatile industrial environments, such as in the petrochemical industry, that experience harsh conditions, and high temperatures and pressure. This requirement has prompted industry players to manufacture more versatile products, such as sapphire glass windows that can be installed in flame detectors and analyzers for hazardous materials and combustible gas leaks. Looking forward, the publisher expects the global sapphire glass market to exhibit strong growth during the next five years.Breakup by Product Type: High Grade Transparency Sapphire GlassGeneral Transparency Sapphire Glass General transparency sapphire glass is the most popular product in the market.Breakup by Application: SmartphonesWatchesOptical and Mechanical InstrumentsSafety EstablishmentsMedical DevicesOthers At present, smartphones represent the largest application segment.Regional Insights: North AmericaEuropeAsia PacificMiddle East and AfricaLatin America On the geographical front, North America represents the biggest market, accounting for the majority of the market share.Key Questions Answered in This Report: How has the global sapphire glass market performed so far and how will it perform in the coming years?What are the key regional markets in the industry?What has been the impact of COVID-19 on the global sapphire glass industry?What is the breakup of the market based on the product type?What is the breakup of the market based on the application?What are the various stages in the value chain of the industry?What are the key driving factors and challenges in the industry?What is the structure of the industry and who are the key players?What is the degree of competition in the industry? Key Topics Covered: 1 Preface2 Scope and Methodology3 Executive Summary4 Introduction5 Global Sapphire Glass Market5.1 Market Overview5.2 Market Performance5.3 Impact of COVID-195.4 Market Breakup by Product Type5.5 Market Breakup by Application5.6 Market Breakup by Region5.7 Market Forecast6 Market Breakup by Product Type7 Market Breakup by Application8 Market Breakup by Region9 SWOT Analysis 10 Value Chain Analysis11 Porters Five Forces Analysis12 Price Analysis13 Competitive Landscape13.1 Market Structure13.2 Key Players13.3 Profiles of Key Players KYOCERA CorporationRayotek Scientific Inc.Rubicon Technology IncSaint-Gobain GroupCrystran Ltd.Crystalwise Technology Inc.Monocrystal PLCSCHOTT North America Inc. (SCHOTT AG)Swiss Jewel CompanyGTAT CorporationPrecision Sapphire Technologies LtdSense-tech Innovation CompanyNamiki Precision Jewel Co. LtdDK AZTEC Co. LtdTera Xtal Technology Corporation For more information about this report visit https://www.researchandmarkets.com/r/olxwct CONTACT: CONTACT: ResearchAndMarkets.com Laura Wood, Senior Press Manager email@example.com For E.S.T Office Hours Call 1-917-300-0470 For U.S./CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900
Scott Morrison refuses to budge on climate target as Biden pledges to halve US emissions by 2030. Australia increasingly isolated as prime minister sticks to 26-28% emissions cut by 2030 on 2005 levels