MergerMay 11, 2026, 04:14 PM
Chart Industries Merger with Baker Hughes Progresses; Q1 Net Loss $(17.1)M
AI Summary
Chart Industries' proposed merger with Baker Hughes Company is progressing, with shareholder approval secured and the transaction expected to close, subject to regulatory conditions. For the first quarter of 2026, Chart Industries reported a net loss of $(17.1) million, a significant decline from a net income of $49.5 million in the prior year. Sales also decreased by 11.65% year-over-year to $884.8 million.
Key Highlights
- Shareholders approved the merger with Baker Hughes on October 6, 2025, with each share converting to $210.00 cash.
- Q1 2026 net loss attributable to Chart Industries, Inc. was $(17.1) million, down from $49.5 million in Q1 2025.
- Q1 2026 sales decreased 11.65% to $884.8 million from $1,001.5 million in Q1 2025.
- Basic and diluted EPS for Q1 2026 were $(0.36), compared to $0.95 and $0.94 respectively in Q1 2025.
- Cryo Tank Solutions sales were $145.6 million, Heat Transfer Systems $246.1 million, Specialty Products $214.5 million.
- Repair, Service & Leasing sales were $278.6 million in Q1 2026.
- Net cash used in operating activities was $(248.0) million in Q1 2026, up from $(60.0) million in Q1 2025.
- Remaining performance obligations totaled $6,282.9 million as of March 31, 2026.