Chart Industries has reported lower sales volume across all of its product lines in its third-quarter financial results ending 30th September, 2016, stifled by the continued and challenging conditions of energy markets.
Net sales decreased 22.8% to $203m from $264m in the comparable 2015 period, but gross profit reached $69.6m, or 31.4% of sales, which the company explains was favourably impacted by the insurance recovery costs related to its BioMedical business.
Overall, its Distribution & Storage (D&S) outfit continued to see a good order flow for downstream LNG terminals in Europe as well as securing new orders in its Lifecycle business, although its results were negatively impacted by the continued energy market slowdown seen in its Energy & Chemicals (E&C) business.
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