Exhibit 99.1
CHART INDUSTRIES, INC. ANNOUNCES $250 MILLION SHARE REPURCHASE AUTHORIZATION
ATLANTA, December 11, 2024 (GLOBE NEWSWIRE) — Chart Industries, Inc. (NYSE: GTLS) (“Chart”), a global leader in clean energy and industrial
gas solutions, today announced that its Board of Directors has authorized a share repurchase program of up to $250.0 million of its common stock. Under the stock repurchase program, Chart may purchase shares of its common stock through various
means, including open market transactions, block purchases, privately negotiated transactions or otherwise in accordance with applicable federal securities laws, including Rule 10b-18 and Rule 10b5-1 of the Securities Exchange Act of 1934, as amended. The program may be modified, discontinued or suspended at any time without prior notice.
We reiterate our financial policy of no share repurchases or material cash acquisitions until we are below 2.5 net leverage, or there is a meaningful market
event that would necessitate us using it. As of September 30, 2024 our net leverage ratio (per bank covenant) was 3.04.
Chart’s CEO Jill Evanko
commented: “This stock buyback authorization reflects our confidence in our business going forward. We anticipate that we will be at $3 billion of debt by the end of 2025, and look ahead at various opportunities to return value to
shareholders, continue to pay down debt, and deploy capital for productivity and growth opportunities.”
Forward-Looking Statements
Certain statements made in this press release 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, liquidity and cash flow, debt levels and leverage, 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 press release 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 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.
