Chart Industries Inc. (GTLS), a provider of services and equipment for cryogenic liquefaction of gases, on Wednesday reported a net loss for the third quarter, mainly due to the merger termination fee expense.
For the three-month period to September 30, the company registered a net loss of $145.3 million, or $3.23 per share, compared with a net profit of $62.2 million, or $1.33 per share, in the same period last year.
The merger termination fee expense was $266 million, compared with $000 million a year ago. This $266 million is the termination fee expense associated with the now terminated merger with Flowserve (FLS).
Excluding items, profit was $124.9 million, or $2.78 per share, higher than $101.9 million, or $2.18 per share, a year ago. On average, the 11 analysts polled had expected the firm to earn $3.12 per share for the quarter. Analysts' estimates typically exclude special items.
Operating loss stood at $88.5 million as against the prior year's profit of $178.5 million. Sales improved to $1.100 billion from $1.062 billion in the previous year.
GTLS was up by 0.43% at $200.50 in the pre-market trade on the New York Stock Exchange.
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