Chart Industries (GTLS) Shares Surge 15.7% Amid $13-Billion Merger and Robust Q2 Earnings

Chart Industries (GTLS) surged 15.7% last week on a $13.6 billion merger with Baker Hughes and Q2 earnings growth of 34% to $69.3 million. Sales rose 4% to $1.08 billion. The transaction is expected to be completed in mid-2024, subject to regulatory and shareholder approvals.

July 2, 2025 - In a significant move to bolster its portfolio and accelerate growth, Baker Hughes (NASDAQ: BKR) has announced its acquisition of Chart Industries (NYSE: GTLS) in a deal valued at $13.6 billion. The all-cash transaction, expected to close in mid-2026, was announced on July 29, 2025, and is subject to regulatory approvals and shareholder votes.

The acquisition is set to transform Baker Hughes' Industrial & Energy Technology segment by adding Chart's differentiated capabilities across various end markets, including natural gas, data centers, and decarbonization. Chart Industries is a global leader in the design, engineering, and manufacturing of process technologies and equipment for gas and liquid molecule handling, generating $4.2 billion in revenue and $1.0 billion in adjusted EBITDA in 2024.

The deal is expected to deliver substantial synergies, with Baker Hughes projecting $325 million in annualized cost synergies by the end of the third year. The acquisition is also anticipated to be immediately accretive to growth, margins, and cash flow, with double-digit EPS accretion in the first full year after the transaction closes.

Baker Hughes Chairman and CEO Lorenzo Simonelli highlighted the strategic fit, stating, "Chart’s products and services are highly complementary to our offerings and strongly aligned with our intent to deliver distinctive and efficient end-to-end lifecycle solutions for our customers across their most critical applications."

Chart Industries President and CEO Jill Evanko echoed the sentiment, noting that the combination would allow the companies to "help our customers solve the most critical energy access and sustainability needs."

The acquisition will expand Baker Hughes' offerings in attractive growth markets and strengthen its lifecycle revenue mix. The combined company is expected to be a leader in a lower-carbon, more resource-efficient future, leveraging the strengths of both companies.

Baker Hughes will host a conference call on July 29 at 8:30 a.m. ET to discuss the transaction. The call will be broadcast live via a webcast and can be accessed at investors.bakerhughes.com.

References:
[1] https://investors.bakerhughes.com/news-releases/news-release-details/baker-hughes-acquire-chart-industries-accelerating-energy