Workflow
Chart Industries Authorizes $250M Worth of Share Buyback Program
GTLSChart(GTLS) ZACKS·2024-12-13 16:20

Core Viewpoint - Chart Industries, Inc. has announced a share buyback program authorized by its board of directors, allowing the repurchase of up to 250millionworthofshares,indicatingacommitmenttoreturningvaluetoshareholders[3].CompanyDetails−Thecompany′ssharesclosedat250 million worth of shares, indicating a commitment to returning value to shareholders [3]. Company Details - The company's shares closed at 197.86, showing relative stability in the market [2]. - The share buyback can be executed through various methods including open market purchases and privately negotiated transactions, adhering to specific SEC rules [3]. - Chart Industries has reiterated its financial policy of refraining from share buybacks or significant cash acquisitions until its net leverage ratio falls below 2.5, with a target to reduce debt to 3billionbytheendof2025[4].−AsoftheendofQ32024,thenetleverageratiostoodat3.04[4].MarketPerformance−ChartIndustrieshasamarketcapitalizationof3 billion by the end of 2025 [4]. - As of the end of Q3 2024, the net leverage ratio stood at 3.04 [4]. Market Performance - Chart Industries has a market capitalization of 8.5 billion and currently holds a Zacks Rank of 3 (Hold) [5]. - The company has experienced a share price increase of 50.7% over the past year, outperforming the industry average growth of 19.9% [6]. - The Zacks Consensus Estimate for the company's 2024 earnings remains stable at $8.91 per share [6].