morning, thank update. us Shannon. our and through go you, for to quarter you XXXX and Thank first today Good results joining business everyone,
our is today Scott me Joining Accounting Merkle, Officer. Chief
the of presentation update You'll views COVID-XX related morning. actions the the uncertainty supplemental walk to hear as an and this pandemic, book, surrounding we breadth our through about on XXXX order given our COVID continued released of recent our our
But you here now, uncertainty As on our times. X, strategy we’re unchanged markets from preparing our see in even as uncertain these responding slide is to well impacts, and in continued now long-term as can right for coronavirus. the
deemed our are safety team members. our businesses of In X, the the Starting is slide given fact foremost on that and first particular, essential.
critical yet continue of workforce in our have to our be as members XX% care approximately We to that have working products. team possible manufacture we many as must remotely, factories
the companies safety and the examples points, designated measures interaction, time by touch to which schedules end to team all lunches for just on all to hands. groups we around team on to the department not deep facilities cost members; stay without designed plates our your taken closing ensure and are call just equipment nearby are and have have during world, cleaning of work. cleaning for community assistance start doors manufacturing rotating following locations a opening two to into personal we safe finally, each members providing broken kick reduce at shift enhanced for shift, reduce our the enhanced times in protective staggered few And of the using employees, Therefore, installed and
hospital March X, support fees our those of assistance the need visits. healthcare suspended portion of non-critical employee to Beginning and we in while also Teladoc doctor's reducing
status and is March meet we oxygen locations ramp by our employees the we Given governments safe production as critical in the beginning particular demand. all products where essential keeping in increasing to our operate, medical for
We have to in our of production I were our across facility, total Georgia XX% XX% operational doubled in We locations and did Czech a in in increase will by days these first share our for the slide. products. able coming our Republic which the non-working XX for impacts factory on Minnesota location quarter the
manufacturing use in the team lead European did demand times. job an achieving product dual to Additionally, localized US certifications the when ability our exceeded Europe quickly urgent for exceptional
an it To the receive months. take as is typically from bodies this authority quite certifying governing would to six up accomplishment
those non-essential just and under hold. averaged save As million we Last expenses. of year, on the million March, $X.X is in all in these travel companies and travel with per company days, we $X month, from expenses
bottom world contribute until line While reopens. temporary the savings, to these our are they
heads. million of of of These week. from Since declining as the corporate. a These been reductions million all flattening in our the actions able demand variable savings well beginning cost this were relation have which assessing manpower full needs segments direct the cost structure. quickly have reductions are to to over as organization constantly reduced FinFans our are XXX we order across by combination annualized labor $XX year, adapt We primarily workforce our changing taken of savings and XX% in in to rates of response and have $XX.X in the resulted time
$X.X the $XX.X savings expect FinFans on timing The in a early in based the our reductions reduction of and the of the million saw reductions from year-to-date of in remainder annualized which largest was QX $XX We for segment XXXX. E&C million is savings million.
$XXX,XXX. XXXX, you magnitude that synergies. agile metric year. These of and March, cost a the in rate this per reductions generated December on addition manage be We'll in responsibly in demand per sense are run a FinFans of in to per per to person and revenue actively through To market $XXX,XXX crisis. chart-wide based same of is by integration was taken go-forward the continue actions Coming year savings person give and out
The margin XXXX in first the quarter are SG&A XXXX and reflected savings gross results.
basis First quarter margin the percent over XXXX. sales over a sequentially points gross of increased points of as XXXX QX and XXX XXX basis quarter fourth
percent first of expense the a as both with XXXX and primarily FinFans. margin only a million in share-based sequentially cost of the of E&C first quarter each X.X gross onetime year-over-year and exception for the which year when the included was significant $XX.X normalized quarter. for SG&A, sales increased segments of compensation severance, Each million
taken XXXX we've expect reduction cost decrease of a We activities continue result as to in SG&A year-to-date. to further the
for just amend XX, group our do impacts. to cap. not prudent to we've not our bank We leverage uncertainty the the it any we Well, even referred publicly case case we on thought in hitting nor quickly covenant extreme prior was March anticipate the ahead covenant ratio of worked downside scenarios. given get to coronavirus did we lender of what As stated net with as
April of that the down the stepped successfully Flipping XX. Previously, ratio slide leverage as XXXX. we covenant completed see net amendment can X.X you XX, process to times X, to on September
pricing XXXX of that X.X covenant to worth end It’s is do does times, new we level the times grid unchanged tier of the expect shown at Our to corner not our and slide. also step as X.X left-hand pointing above in Once the not new hold through prior until which X.XX XXXX. is our up down out a exceed. pricing covenant to there
of existing leverage of matures hand of until notes, debt is our loan, million little and Finally, term our current is March revolver on XX. ratio cash XXXX $XX inclusive our very X.X as net and our convertible
amendment sheet, Given and cost actions, reduction recent the our not the balance Act. covenant our CARES using we foresee do currently
care every the including supplies indicated, just considered the transportation diagnosis manufacture I Chart’s or and Homeland COVID-XX gases treatment in through exceptions As In and where production infrastructure States, considered to the the sites, business of equipment. have one we is COVID seven of has essential the manufacturers and and essential testing, in granted of European manufacturing not been of medical medical one Italy. hit critical related United been at as of distributors equipment are Department our all manufacturers, energy locations Indian hardest countries, The of operators same Security. of approvals in locations our warehouse and
of February. our facilities in first unable for We the being the the XX there case of days total in we government where first approval We of was in did status our China. have quarter a we our to mandatory or XX either were days produce and essential shutdown waited late across in Chinese was production quarter with early those as locations January in as the lost a
later The that lost We from revenue revenue because not XXXX. pushed but the of were as of in China. million $X.X that QX of revenue pushed to $X of shutdowns China these with XXX% of mid-February. rather XX out in out operational first in coronavirus We estimate quarter total days million do was
hospital slide medical FDA X, applications to products By care for States what feed Europe. regulatory is to and This to really critical to liquid must in be oxygen So, the to medical storage XX.XX% pure in of standards does supplied European tanks production? in specialized varying Chart’s with metal background respect Pharmacopoeia into by oxygen hospital cylinders of either hospitals it the or certified on is that meet or into mean medically the capacities. standards way trucked compressed that has form the United
applications as these source the in delivery from bulk for range oxygen storage primary mobile to liquid of to micro tanks products bulk systems used cylinders Our to systems hospitals.
used a bulk liquid bulk supply storage micro storage for can provide primary systems backup oxygen tank. the to XX-hour of respiratory be for and Our oxygen hospital’s applications liquid mandatory
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be in the to to health Liquid it cylinders home system and can well used together oxygen manifold as remotely liquid hospital. as in fill oxygen supply field homes nursing being care
the viruses. be can used sold samples biological research storage shippers multiple the for including And treatment recently, cryobiological for of for COVID-XX. and transport units Our we of the
Europe both treated patients received XX to are in therapy. million of have CDC The and there In oxygen ill that up high XX% the cylinders assured use. for over full COVID US, critically
these already, of for cylinders XX% products, received currently medical mentioned oxygen are permission used cylinder certified, not to only we in be XX% which our are both service, dual-coated to certified produce can regions. only and However, as
Europe XX% XX% Products X.X% year that above XXXX revenue. This full the slightly run in total can about used for in X% of medical in under XX% applications States, that the and just Chart manufactured in is United be of Asia. with that
liquid have rates three and in customers hospital weeks medical form. folds Italy much as in as rise to for in oxygen of Spain, Our consumption like reported places industrial normal five medical suppliers times a and oxygen cylinder gas and recent levels. saw demand in In XX both
increased the XX% QX to of Turning medical oxygen slide specific XXXX. QX compared our first to compared XX% to quarter X, known and orders
the You order can middle see X. increases regions in of each slide
area levels particular medical specifically. the both quarter quarter, first demand we are South second entire higher than in North and has have this order in where America the kits As oxygen increased entered for further month-to-date in
Mexico. April For of for shifts example, medical orders orders. the first COVID related is yesterday, of ready million orders one quarter XX% past we’ve responding week, applications situation entire that these the are Through customer at received in the for in for to month-to-date $X.X
We expect orders pre-COVID later these levels types XXXX. return of to in to
up call products employees time can slide. of products. to on them life-saving is some our not stories We healthcare There facilities, hospitals, this pop-up enough medical But to all of locations. other share this highlighted thank ramped to and our see production critical the on care you expedite have efforts who on
main tanks story. one team additional Friday a call XX:XX at afternoon the City hospitals that New a share On three recent Chart failed. PM, area the in Commercial at York received me Let
is there and reason oxygen the supply. they overdrew is down it unknown, shut that industry the system assumption While
to PM, By able same the of have afternoon, sure given afternoon. I'm find that arrived isn't very you supply that dedicated challenges to XX easy were X:XX chain on the next a late, DuraCyls we onsite which know truck
people’s XX and to these truck to Our XX news wouldn't team lives. be hope helped We load operations a that [indiscernible] stayed Friday headline the save units all evening story. XX
slowly, For started products, the shutdown the cryobiological in first quarter China. particular in with
first COVID-XX a both under from happening increase in by first total began of quarter increased $XX of is The with February early late XX% impacts increase over million, the As quarter dramatically and driven March, just indirectly orders XXXX. demand and directly COVID. orders
the China with there bio has banks reopened, activity from increased been mentioned, As in region.
many store biological periods inventory as We our cryobio research. freezers have have do not those surgeries we delayed, so that sold sold to for institutions longer elective And time for to to companies of are valuable COVID assets perish. products need
industrial have we live masks safe to XX, To-date, to that employees slide providers stock. and donated makes local hospital banded in serve in. have share thousands those safety our crisis. our to We to working NXX community thank hospitals continue identify that work communities we of personal care to it we our to our through needs, me customer in together people keep from health to while this and Flipping donate gear each proud protective
COVID to starting medium recent dynamics from Let's fundamentals, trends on the slide move term discussion long demand market XX. and our and
energy targets to transition strength We forward. have with in fundamentals going long-term associated important infrastructure before whether exist emissions carbon this markets reductions global, the asked the clean of and will that the particular were continue about our that. needed Many see in to so
need during global from a hear, of the be more price this seeing that natural out Even an actions be and the which on will timeline. recent parliament protect in Indian we more focus of what will recent for impacts that approved this versus the diesel achieved to excise XXXX coming oil crisis shutdown, on transition their gasoline energy From duty top help can given by XXXX independence gas. longer leaders there the ranging increase will and the line be the
$XXX first million flat Calcasieu Venture of of quarter is Pass take included XXXX LNG which Backlog million to Global to $XXX orders. the of
increased is million $XX on shown over backlog slide first removing quarters. there When remaining was in to year-over-year As expected Pass as XX. quarter which end backlog next evenly the of of that, revenue fairly of be XXXX, Calcasieu X% as the four the recognized
In $XXX $XXX the related the in portion the the LNG of of D&S D&S West, XX for segment the up highest a million which highest since PetroChina of business, for of quarter the XX% over backlog first first history million the backlog of quarter backlog is East included quarter March XXXX of significant XXXX. is first backlog.
worth customers any material We included XX not obtained This Also have of to-date. Africa, the new in sold cancellations were in in and new X Asia, X XX China, quarter had XX Europe in India, new our we is in XX America. XXXX March. to first in that in these noting XXX XX customers North of of Mexico. and which of in customers were outside backlog Southeast
a orders application new million XX a a have million retrofit and in order we $X.X E&C from exchanger as refinery in West. million application industrial Cryo; E&C D&S April, in air-cooled for in $X.X FinFans; space order customers for for $X.X a well an launch as To-date, heat plant order
$XXX were XXXX of with nearly Cryo million Global flat quarter the and of E&C of over revenue. up Venture sales million $XX.X the XX% inclusion is increase of Sales Pass of Calcasieu first an XX% organically.
of Calcasieu any first XXXX Pass The not revenue. include quarter did
Storage the since full through known of operations in environment. & and we to segment took based systems each we’ll whose the product slide of walk product Europe. In vehicle showing West, hold pandemic consistent HLNG line weakening two demand. Distribution weeks On to our line These left six XX, main tanks. are are strengthening short-term from XX is HLNG to demand you the on with as fuel to are a sole-source categories located weakening has customers information global last the This right
over expected and customers weeks the four current dropped customers’ closed are to expectation levels month with our return for have Order in production the June. reopen been to by lines weeks. These the in coming prior XX% these with activity orders that past normal
our by of a by We be Assuming line March would annual in million early adjust $XX three-month XXXX. million the to to situation. in reduced forecasted workforce orders, in current this period revenue to reduced his for $XX line our XX% product level demand of this
products. use We’ve of our made fuel significant potential other HLNG progress customers' on systems
haul a this two to the customers pilot to and having with in expect to large year India logistics we and both Specifically, in companies add US Russia successful fleet move their ahead mine LNG trucks, one LNG recently completed program.
received significant formal our breaking Europe. further in the systems late we LNG leadership second position to us vehicles granted for Also, for This yesterday LNG be notice that patent in news, region. fuel a enhances will
in considered have loss we’ve a water water municipalities not applications primarily treatment essential orders is slowed with would this orders are if also are a municipalities Originally, being would one the first time at and municipalities quarter. quarter with treatment and Dosing and consistent. that business thought budget already COVID, have have The the given but for equipment, I four space different that reason line in used. second is they booked
products. help the is dossers although fuel which change activity with have a applications dossers new working for we particular, they are order is using in of their quarter seen way recent to used Dosing wide company, packaging a weeks. industry with swath new we a In are consistent additive our being prior the
week, enhancement Just we for this an past dosser eyelash first product. sold our
In up level. for of X% Hydrogen, nearly were the our & at XX% food addition demand, I've continue quarter of Orders specialty of critical over demand. increasing quarter and above first markets first already in orders over all previously discussed the cannabis, fourth XXXX. XXXX and products the strengthening up quarter forecasted beverage XXXX the and to the which show care space
including and increasing will customers new with that with food by their somewhat are and down. demand our continue associated fast Our shut restaurants products, confirmed McDonald's, all are stores builds. casual Customers and they independent having Yum! offset for have by to that Chick-Fil-A convenience hit
stores QX tanks, gauges. convenience new with telemetrics beverage by had the speedway tank feature with on X,XXX a stores & each sales included that beverage food sales content strong driven new
shelter Many cannabis demand to lifestyle, and also COVID-XX wine premium ever-changing have wine, continue canned that In the placed alcohol, issued in today's and risen. orders beer, combat the central states include has for category. to
nitrogen customers, Coppola wine key liquid to with our our Family in of the Coppola a supported dosing of One in the the systems. one Winery, packaging in first of premium their wine cans can. offer We Family Winery
while food were beverage & quarter on categories two XX% reason tail this beverage are Overall, & weaker has food The we have that in the the beverage XXXX. demand typical XX% orders and to been above, than from compared XXXX as quarter seen described restaurant in as seeing the downs. compared that slide we of first fourth is the of impacts the showed the of casual past now believe we week, up shut to
Finally, This throughout D&S you'll purchases. is infrastructure aftermarket trend new hear existing and all theme service of is a that a repair segments is utilization demand increasing. West and there versus to
and demand in half For quarter revenues XX% the gas over taken driven D&S operating first repair reductions majors West, and service of second of industrial increased income cost the parts, XXX% more the with XXXX. than from increased by XXXX up
in fourth quarter aftermarket regasification for service and first the increasing the repair booked West regas we're D&S percent region. both Malaysian In of in requests number station D&S a we and In quarter, X.X% XXXX. X.X% West the quarter, East, terminals. of up the from an of as bid for sales total seeing first was first the
on third the We South quarter, United regas in for expecting orders well regas in as also locations for quoting as stations are the XX States America. military
booked quarter, which XX. and on shown XX the quarter per LNG year. fueling on row XXXX, on which stations QX slide LNG with the record XXXX same the filling is throughout second was is D&S level In the the we stations, which East level XX same as is first average par a
we April, verbal from stations. received in filling Shell of the supply LNG Additionally, commitment seven for
expansion allow currently multi-year, toward are contract, will working first stations. for of a seven teams which Our the long-term all
Asia India. In which record. month order second XXXX to China intake the above-average had a was in the heat in E&C in best a for Korea products highest brazed region Middle last business the March with the of the outside intake history order aluminum a East December in This second only March. IOCL the month of Pacific was year, box sale had cold for its of region, exchanger second and and India
months. have in softening and in in This sooner trailers years lead is XXXX is were trailer impact for XXXX. trailer We not demand weeks. surprising recent on than order expected softening expected would record XX seen both as Any revenue plus it trailer be XXXX us, to orders but not XXXX we are times in happening as
Moving the XXXX dramatically whatsoever. this million none a energy of with and row processing on plant orders. for to cryo fell with In years received XX. of Starting top shown segment chemical $X.X we a our natural after of far starting XXXX, in significant demand gas for few XXXX the of columns, which right we total related equipment saw and slide a and three is on which plants
being Our original in seven expectation plants was ordered the first to half. with none in XXXX five
orders XXXX, none impact we of our which these few XXXX $X Given of expect the million. gas very types would in approximately revenue current to and would by oil situation,
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offtake on equipment X $XXX revenue. million This for Global per Venture capacity Plaquemines. XXXX project, is continued agreement their their project annum next million streak ton of
VG reminder, for has clearance – already a Plaquemines. for As final
that continue And approved even XXXX. content project. in loan LNG project. but on XXXX million FID If have FERC that moves on Jordan these have construction, Florian project November XX, the On $XX their not to to would extended difficult we Cove of in equipment ahead yet FID Jordan Cove progress March times. term
development Petroleum phase. the projects currently second that have equipment bidding being they the aluminum for of on Qatar including the other project. zero and field cancelled this north stated brazed for We're content
demand Moving the E&C middle for Cryo. column consistent to labeled
and -- can weeks. that have we petroleum demand You petrochemical industrial as global recent expected see gas LNG applications, continues small-scale into even applications
they While all ahead. have have to petrochem move confirmed plan some projects they that may slower schedules,
three still average and are expect XXXX to awarded from there we be Specifically, on chart these content in to million range $XX million that in $XX each.
million recognized the equipment Coast included late in an received revenue to we revenue XXXX processed in project year. This deliver plant. was Gulf $XX.X of February, be PDH which In for and for design US order our original forecast to
which Eagle be small heat The technology exchangers awarded have January. bid range. yet this would We are for to $XX and the $X been air project those million not Jacksonville's for LOI in we equipment and million cooled scale received in in a and process on facility for coolers LNG
work We expect the a in engineering project begin conjunction to limited the to proceed second with quarter. on notice in matrix
in particular Additionally, progress utilities, their time on and lines. small-scale projects original we see to for power bid continue generation
terminals total bid content. that XX We the to ahead have order to to potential XX point move pipeline chance $XXX XXXX indicated realistic over of have order These have this million a projects year. operators our in continue
cases. ExxonMobil Indian small-scale small-scale major cooperation begun Corporation Oil the continuing the have as that in companies we signed international their letter infrastructure Even LNG of that global with journey, in on by February, oil many out are the evidenced using and build
month. seeing for be is Lifecycle past and that would in to in is $X our repair one be business Finally, demand particular service potential million around There the which expect service in and the next weeks a increased we repair decision few made opportunities. project
have exchangers. you brazed of aluminum globally competitors for as heat Additionally, know, four many we
those late quarter. certification One first competitors a permanently had revoked regional the of in
requests seen alternative we this, are from for looking result a bids customers their As that an have for in uptick supply of of brazed.
also COVID of slide situation. from not hardest on Moving XX, bottom FinFans to from to-date, FinFans, but the our E&C just hit shown segment the oil-and-gas is
month fall in the in three the March, the use. the past our on million particular, first and mid of out heat quickly anticipate upstream related quarter will highest of end $XX quarters, including we in were orders to air-cooled side that the exchanger off; this business of While the
upstream upstream announced our customers revenue of to publicly midstream In spending XXXX, of Chart our applications. total some approximately CapEx have To-date, related million of over cuts and $XXX mid and XX%.
I order COVID operating quarter declines that we in out commented XX% As possibility during maintain with we the the and update, over year-over-year headcount at this of segment, in total first out these of revenue of of expect have segment levels. the can XX% and profitability taken the the air coolers we
The in along percent fans an a the is for quarter, seen breathe FinFans order up from portion customers of first a is demand like this sales service XXXX. repair. our portion and and West, the differentiate was in ways fans, our with business XX.X% medium long to fan continues aftermarket has for the and increase and looking E&C the D&S attributable in Service in from as in Cofimco strength XX.X% A for creative and themselves levels QX repair of the year; increase to in segment term. highest this to
orders part we had firsts of are the on of first-of-a-kind as XX Examples QX. total shown XX slide FinFans in for
with for emergency key a as strategic facilities; of vertical as For our reserves field putting completed for trials order oil well Department petroleum the example, customer. high-specification first first we storage vertical fan Energy of the crude into one US
fundamentals types of $X we combination to be the the quarter, earlier. as in energy ever view as as transition ordering Other related with are These current first-of-a-kind demonstrates that first clean the described orders, out of and I our long-term varied well medium- coming over situation. as that XX in market important global million the will plan applications the orders customers
energy few last for of order through as ships. passenger the at cruise we we might A clean study came continue to And a a come while order received marine vessels will March. COVID-XX you the the week us an think that including is in examples, reiterates this completely This standstill, further for situation. the transition industry passenger liquid-hydrogen-propelled
We biogas continue. this process that The working so booked larger our power. company applications retail from These renewed to expect gas fields recently use LNG these to a of project subsidies trend higher efficiencies. farms in transitioning we we their their a generate for for is Italy. an with first to And food in government chicken order from Italian finally propane farm biomethane large for plants are
first-of-a-kind carbon these orders footprint customers footprint applications XXXX reduce Slide in customers our while XX and their their support initiative figures and more shows looking of becoming our Many carbon ESG reductions. XXXX efficient. are future that in our to
free to to earnings I'll Scott walk it our over now hand through and flow. cash
