Chart Industries, Inc. (GTLS) in Fidelity Mid-Cap Stock Fund Q3 2024

Challenges in Cryogenic Technologies Amid Revenue Delays

Apr 14, 2025

Summary

Stock declined 14% in August, impacting fund performance.
Q2 revenue and earnings missed analysts' estimates.
Faced delays in revenue recognition and foreign exchange headwinds.
Position was trimmed during the quarter but still held at period end.

Chart Industries, Inc. (GTLS, Financial) was a significant detractor in the Fidelity Mid-Cap Stock Fund's Q3 2024 performance. The manufacturer of cryogenic process technologies saw its shares fall by 14% in August after reporting second-quarter revenue and earnings that missed analysts' expectations. The company cited delays in revenue recognition on some projects and foreign exchange headwinds as contributing factors. Despite these challenges, the fund trimmed its stake but continued to hold a position at the end of the quarter.

"On the negative side, an overweight in Chart Industries (-14%) was the fund's biggest relative detractor. Shares of the manufacturer of cryogenic process technologies fell in August after the firm reported Q2 revenue and earnings that missed analysts' estimates, citing delays in revenue recognition on some projects and foreign exchange headwinds as partly to blame." — Fidelity Mid-Cap Stock Fund Q3 2024 Fund Letter

Read full letter at gurufocus fidelity mid cap stock fund q3 2024 review 2024 Q3 page.

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