Chart Industries (GTLS), GasLog Partner on Hydrogen Distribution
Chart Industries, Inc. GTLS joined forces with GasLog LNG Services Ltd. to explore the feasibility of a commercial-scale liquid hydrogen (LH2) supply chain.
Based in Piraeus, Greece, GasLog LNG Services is a subsidiary of GasLog Ltd. The company is engaged in providing LNG shipping services. Its fleet is comprised of 37 LNG carriers, out of which 32 are operational, four are under construction and the remaining vessel is used as a floating storage and regasification unit.
As noted, the two companies will collaborate to facilitate the worldwide supply of LH2 by utilizing GasLog’s liquid hydrogen vessel and Chart Industries’ expertise in cryogenics and large-scale liquefaction solutions. GTLS will utilize its 158 years of experience for this project by providing hydrogen compression, liquefaction and refrigeration technologies, and cryogenic loading/unloading operations.
This partnership will also aid GasLog’s recent projects to develop a commercial-scale LH2 supply chain from the Middle East export markets to customers in Europe and Asia. The collaboration will also ensure the safe and efficient distribution of liquid hydrogen globally.
Price Performance
In the past year, the GTLS stock has gained 25.6% compared with the industry’s 33.2% rise.
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Zacks Rank & Stocks to Consider
Chart Industries currently carries a Zacks Rank #3 (Hold). Some better-ranked companies from the Industrial Products sector are discussed below:
Belden Inc. BDC presently has a Zacks Rank #2 (Buy) and a trailing four-quarter earnings surprise of 12.3%, on average. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
BDC’s earnings estimates have remained steady for 2024 in the past 60 days. Shares of Belden have risen 8% in the past year.
Tetra Tech, Inc. TTEK currently carries a Zacks Rank of 2. It delivered a trailing four-quarter average earnings surprise of 14.4%.
In the past 60 days, the Zacks Consensus Estimate for TTEK’s fiscal 2024 earnings has increased 2.9%. The stock has soared 26.9% in the past year.
Applied Industrial Technologies, Inc. AIT presently has a Zacks Rank of 2. It has a trailing four-quarter average earnings surprise of 10.4%.
The Zacks Consensus Estimate for AIT’s fiscal 2024 earnings has increased 1.7% in the past 60 days. The stock has gained 43.6% in the past year.
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Applied Industrial Technologies, Inc. (AIT) : Free Stock Analysis Report
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Chart Industries, Inc. (GTLS) : Free Stock Analysis Report
