NEW YORK, Nov. 05, 2023 (GLOBE NEWSWIRE) -- Pomerantz LLP is investigating claims on behalf of investors of Chart Industries, Inc. (“Chart” or the “Company”) (NYSE: GTLS). Such investors are advised to contact Robert S. Willoughby at newaction@pomlaw.com or 888-476-6529, ext. 7980.
The investigation concerns whether Chart and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
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On October 27, 2023, Chart reported Q3 2023 EPS of $1.28, which missed estimates by $0.23, and revenue of $897.9M, which missed estimates by $132.1M. In addition, Chart reduced is full year 2023 sales guidance from $3.66 billion to $3.80 billion down to $3.45 billion to $3.50 billion to remove sales associated with certain manufacturers due to the accelerated timeline of these divestitures versus its original forecast as well as revenue timing between quarters with associated an adjusted EBITDA 2023 range of $745 million to $760 million compared to its prior outlook range of $780 million to $810 million.
On this news, Chart’s stock price fell $36.46 per share, or 24.87%, to close at $110.12 per share on October 27, 2023.
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomlaw.com.
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CONTACT:
Robert S. Willoughby
Pomerantz LLP
888-476-6529 ext. 7980
