Chart Industries, Inc. GTLS recently secured an order from Repsol to provide its advanced Howden hydrogen compression solutions for the expansion project of Repsol’s Sines industrial complex in Portugal.
GTLS’ shares decreased 1.5% yesterday, ending the trading session at $152.86.
Headquartered in Madrid, Spain, Repsol is a leading manufacturer and distributor of various petrochemical products that ranges from basic petrochemicals to derivatives. This includes several types of recyclable polyolefins, with a high degree of differentiation.
Inside the Headlines
Repsol’s expansion project at its Sines industrial complex involves the construction of two polypropylene and polyethylene plants with an investment of €657m. These plants will use solar-powered green electrolytic hydrogen to produce polymeric materials. Notably, the polymeric materials will be 100% recyclable and used in pharmaceutical, food and automotive industries.
Per the deal, Chart Industries will supply two diaphragm compressors that will ensure consistent delivery of high-pressure hydrogen for the production of polymeric materials.
Other Notable Deals
In April 2024, Chart Industries joined forces with GasLog LNG Services to explore the feasibility of a commercial-scale liquid hydrogen (LH2) supply chain. The two companies will collaborate to facilitate the worldwide supply of LH2 by utilizing GasLog LNG Services’ liquid hydrogen vessel, and Chart Industries’ expertise in cryogenics and large-scale liquefaction solutions.
In March 2024, this Zacks Rank #3 (Hold) company secured an order from Element Resources for its California-based green hydrogen production facility, Lancaster Clean Energy Center. Per the deal, GTLS will supply hydrogen liquefaction system, liquid hydrogen storage tanks, trailer loadout bays, transport, ISO containers and hydrogen compression to the facility.
Price Performance
In the past three months, GTLS stock has gained 4.3% against the industry’s decline of 3%.
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The company is poised to benefit from solid orders and backlog as well as investments in growth opportunities. Headwinds from supply-chain constraints and a hike in raw materials might be concerning.
Stocks to Consider
Some better-ranked stocks from the same space are discussed below.
Luxfer Holdings LXFR presently carries a Zacks Rank #2 (Buy). It has a trailing four-quarter average earnings surprise of 122.5%. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
The Zacks Consensus Estimate for LXFR’s 2024 earnings has increased 13.5% in the past 60 days.
Crane Company CR presently carries a Zacks Rank of 2. It delivered a trailing four-quarter average earnings surprise of 15.2%.
In the past 60 days, the Zacks Consensus Estimate for CR’s 2024 earnings has risen 3.1%.
Tennant Company TNC currently carries a Zacks Rank of 2. TNC delivered a trailing four-quarter average earnings surprise of 38%.
In the past 60 days, the Zacks Consensus Estimate for its 2024 earnings has inched up 1.9%.
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Crane Company (CR) : Free Stock Analysis Report
Chart Industries, Inc. (GTLS) : Free Stock Analysis Report
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Tennant Company (TNC) : Free Stock Analysis Report
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