Chart Industries Inc. (GTLS), a leading provider of equipment and services for the clean energy transition, saw its stock soar 5.14% in Friday's trading session amid robust demand for liquefied natural gas (LNG) and significant order growth.

The company reported record orders of $1.55 billion in the fourth quarter of 2024, a staggering 29.4% increase compared to the same period in 2023. This surge was driven primarily by the phase one order for the Woodside Louisiana LNG project, which utilizes Chart's proprietary IPSMR® process technology, as well as strong demand across various sectors, including hydrogen, mining, space exploration, carbon capture, and traditional energy.

Chart's revenue for the quarter reached $1.11 billion, representing a 10.8% increase when excluding foreign exchange impacts. The Heat Transfer Systems and Specialty Products segments delivered outstanding performances, with the former setting records for orders, sales, gross profit, operating income, and EBITDA margins.

However, the company faced headwinds in the form of foreign exchange rates, which negatively impacted sales by $17 million compared to forecasts. Additionally, startup inefficiencies and costs at the Theodore, Alabama facility affected the gross margin of the Specialty Products segment.

Despite these challenges, Chart's adjusted operating margin improved by 1 percentage point to 22%, reflecting the company's ongoing efforts to enhance operational efficiency and leverage its strategic partnerships. Notable partnerships announced during the quarter include collaborations with ExxonMobil and Bloom Energy, focusing on clean energy solutions and carbon capture technologies.