The Surprising Reason Chart Industries Stock Crashed Today

The Surprising Reason Chart Industries Stock Crashed Today
·2 min read

Shares of Chart Industries (NYSE: GTLS) crashed today, having tumbled 10.7% as of 11:35 a.m. EDT after releasing third-quarter numbers that fell short of analysts' estimates. Chart Industries manufactures a wide range of servicing equipment for the energy and industrials sectors under four segments: cryogenic tank solutions; heat transfer systems; repair, service, and leasing; and specialty products. If you're wondering why Chart Industries' net income declined despite such strong top-line growth, here's what happened: Although the company increased prices for most products last quarter, those increases weren't enough to offset the rise in costs for raw material, containers, and freight.

Our goal is to create a safe and engaging place for users to connect over interests and passions. In order to improve our community experience, we are temporarily suspending article commenting