Cannabis

Chart Industries Reports 2019 Fourth Quarter and Full Year Results

Published

4 years ago

February 13, 2020

ATLANTA, Feb. 13, 2020 (GLOBE NEWSWIRE) — Chart Industries, Inc. (NASDAQ: GTLS), a leading diversified global manufacturer of highly engineered equipment for the industrial gas and energy industries, today reported results for the fourth quarter and full year ended December 31, 2019. Further details can be found in the supplemental presentation included with this release. Highlights include:Full year record orders of $1.413 billion, a 23.7% increase (10.8% organic) over full year 2018, driven by record orders in trailers, LNG fueling stations, cryogenic equipment in India, lasers, hydrogen, cannabis and water treatment.Record backlog ($762.3 million), up 34.2% from the fourth quarter of 2018 (32.2% organic increase) driven by strong fourth quarter 2019 orders including the highest order quarter in history for Distribution & Storage Western Hemisphere (“D&S West”).Received engineering release in December 2019 for a Big LNG project for which orders are expected to be received in 2020.Full year record sales of $1,299.1 million, a 19.8% increase over 2018 supported by record organic sales.Full year reported earnings per diluted share $1.32 included substantial transaction, integration and restructuring costs, resulting in full year record adjusted diluted EPS of $2.52. The one-time costs in 2019 were related to restructuring and integration work that is expected to return $38.3 million annually beginning in 2020. Increased 2020 base revenue guidance to $1.645 billion to $1.710 billion and base adjusted diluted EPS guidance to $4.90 to $5.50, reflecting timing and strength of fourth quarter 2019 order activity.Fourth quarter orders of $343.5 million, a 20% increase over the third quarter of 2019, contributed to record full year orders of $1,412.9 million. Fourth quarter sequential organic order growth was over 20% in three of our four segments compared to the third quarter of 2019. We booked 37 orders greater than $1 million each, including a $23 million PDH plant, a $12 million crystallizer equipment order and a $9 million small-scale terminal order. In the fourth quarter 2019, D&S West had its highest order quarter in history, and included a $21 million LNG by rail order, the first of its magnitude for our Gas By Rail (“GBR”) unique offering. Energy & Chemicals Cryogenics (“E&C Cryo”) orders of $54.4 million was a 55% increase over the third quarter of 2019, with no significant Big LNG orders received in either quarter. Consolidated full year 2019 record order levels increased 24% (10.8% organically) over the full year 2018 and were supported by record orders in lasers, cannabis, hydrogen, water treatment, LNG fueling stations, trailers and cryogenic equipment in India.Our high demand is driven by two key areas in the business: global clean energy infrastructure buildout and specialty markets. As we support countries and customers in their efforts to move toward carbon neutral environments, demand for our LNG fueling stations, trailers, small-scale offerings and other infrastructure related products continues to increase. LNG fueling stations set record order levels in 2019, with 55 stations compared to 30 in 2018. Additionally, 2019 is our second consecutive year of record orders for trailers, with a 9.4% increase over 2018. In the fourth quarter, we received a $9 million order for a small-scale terminal in the Caribbean, and in January 2020 announced the receipt of the letter of intent for IPSMR® and cryogenic equipment for Eagle LNG’s Jacksonville small-scale LNG terminal for which we expect the order and full notice to proceed in 2020.Under our MOU with AG&P, we have begun to contribute to the infrastructure buildout in India, including 5 related stations ordered at the end of December. We also are seeing considerable activity with Indian Oil Corporation Limited (“IOCL”), with whom we have an LNG-oriented MOU and who recently executed an MOU with ExxonMobil India LNG to work together on the LNG opportunities in the region. Not only are we seeing LNG related work from IOCL, we received a $2.3 million order in January 2020 for an IOCL refinery. Our Indian facility is currently equipped to serve Indian Prime Minister Modi’s “Make in India” requirement for many Distribution & Storage products, and as part of the Air-X-Changers integration, will be manufacturing our first non-U.S. air cooled heat exchanger by the end of the first quarter 2020.India activity isn’t contained to just the global infrastructure buildout. D&S East received a $2.7 million order from India Space Research Organization (“ISRO”) in the fourth quarter for hydrogen tanks, a sign that our specialty markets are expanding beyond just D&S West. Our equipment and solutions for the specialty markets help our customers achieve their sustainability and carbon neutral emissions targets with hydrogen being a key component. We design and build liquid hydrogen storage tanks for customers who integrate them into hydrogen fuel cell vehicle fueling stations for cars, buses, and forklifts. Hydrogen fuel cell vehicles have zero tailpipe emissions while traditional transportation accounts for 17% of global CO₂ emissions. Another anticipated significant growth driver in specialty markets for 2020 is our LNG vehicle tank solution for over the road trucking. In the fourth quarter 2019, orders and sales were lower than anticipated as a key customer chose to move full production to a new Chart model tank design. Not only will these orders and sales move into 2020, the customer has indicated higher volumes due to this product transition. Additionally, we expect a new over the road trucking customer outside of Europe to begin production in the second half of 2020. With the increased forecast provided by customers and the increasing movement to expedite cleaner fuel options in Europe, we are nearing completion of the European LNG vehicle tank capacity expansion project. First deliveries are expected in the second quarter of 2020. Once ramped-up, we expect our LNG vehicle tank capacity will more than double to over $200 million dollars of potential revenue throughput annually. The order strength throughout 2019 contributed to full year record sales both including and excluding Air-X-Changers and VRV. Full year sales of $1,299.1 million represents a 19.8% increase over 2018. Even with the record full year sales in 2019, backlog ended at $762.3 million, the highest in our history. This record backlog is an increase of 34.2% from the fourth quarter of 2018, or a 32.2% organic increase. The fourth quarter book to bill ratio was 1.0, with book to bill ratios of 1.2 in both D&S East and West. Backlog includes approximately $125 million of Venture Global Calcasieu Pass project revenue, of which $100 million is expected to be recognized in 2020. Backlog does not include additional Big LNG project orders as of December 31, 2019, although in the fourth quarter 2019 we received an engineering release for one of the Big LNG projects that we expect orders to be received in 2020. We continue to expect orders between $700 million and $1 billion of additional Big LNG projects in 2020, in particular, Tellurian’s Driftwood (Phase 1, 16.6 MTPA) and Cheniere’s Corpus Christi Stage Three. Tellurian has all permits secured, including the December FERC approval to move ahead with groundwork at the site. Tellurian announced last month that they have “already made the decision to go forward with this project. The only thing remaining is the incremental notice that is given at the end of financing” which is expected to occur by mid-2020. Cheniere has indicated a 2020 Final Investment Decision (“FID”), and will leverage their existing infrastructure at Corpus Christi to move ahead quickly. Additionally, we are beginning to see orders related to optimization and retrofitting of existing LNG export terminals, with a $1 million air cooler order received in early January related to this type of work.“Significant demand in the fourth quarter of 2019 for our cryogenic equipment in both global infrastructure applications as well as specialty markets contributed to 2019 record orders, sales and backlog for Chart” said Jill Evanko, Chart’s President and CEO. “With the expectation of continued broad-based order strength throughout 2020 as well as additional Big LNG orders, we expect 2020 to be another record year.”Fourth quarter reported diluted earnings per share (“EPS”) of $0.34 included many one-time and unusual items that will not repeat in 2020. The one-time items related to restructuring costs ($0.23), integration costs ($0.14), transaction and other costs ($0.08), including the mark to market on our investment in Stabilis. Offsetting to these addbacks was a reduction to adjusted earnings per share of ($0.07) for tax effect.In the fourth quarter and throughout 2019, we completed the majority of our right sizing cost efforts incurring significant one-time costs but driving $13.2 million of projected annualized cost savings included in our 2020 outlook. In addition, we completed $25.1 million of integration cost synergies, also included in our 2020 outlook. These actions were primarily associated with headcount reductions, facility consolidations, operational improvements and product line rationalization. We have completed our first year of ownership of VRV and will no longer include VRV related integration costs in our adjustments going forward. The business in 2020 will reflect the integration efforts of 2019, including the insourcing of our inner and outer vessels, 12 new customers from the combination of the businesses ($16 million of order synergies with record India orders). With higher margin backlog as of December 31, 2019 from shipping pre-acquisition low and negative margin orders and standardizing on tank designs, we expect VRV to be at the originally assumed run-rate operating margin of 12% in 2020.Through year end 2019, we have achieved $20 million of our targeted $29 million of cost synergies from the Air-X-Changers integration, with the biggest impact from the completion of the consolidation of three Tulsa, Oklahoma facilities into one. The remaining $9 million is expected to be completed by June 30, 2020 and will positively impact the second half of 2020.Between the organic restructuring and acquisition synergies, we have completed $38.3 million of expected annualized run-rate savings in 2019. This, combined with the record order and sales year, contributed to full year 2019 reported diluted earnings per share of $1.32, and when adjusted for one-time costs, $2.52 of adjusted diluted EPS, a 24.8% increase over 2018 adjusted diluted EPS and the highest in our history. The restructuring and integration completed in 2019 sets 2020 up positively from a gross margin and a SG&A perspective. Full year gross margins and SG&A both reported and normalized by segment were as follows:Full year normalized SG&A of $195.5 million is 15% of sales, compared to full year 2018 normalized SG&A of $175.4 million, or 16.2% of sales. The 2020 SG&A run rate is expected to stay at 2019 normalized levels, even inclusive of the additional volume and big LNG included in our outlook.Finally, working capital discipline in 2019 led to free cash flow of $123 million, excluding the acquisition purchase price for the Air-X-Changers purchase and inclusive of the first six-months of 2019 for Air-X-Changers (includes $19.8 million of AXC free cash flow from January to June 2019).OUTLOOK 2020The noisy fourth quarter 2019 is expected to positively impact 2020. These include: (1) revenue shortfall of $30 million to prior guidance, driven by timing of fourth quarter orders from earlier in the quarter to December or into the first quarter of 2020. Specifically, we booked over $65 million of orders in the last two weeks of the year and over $120 million in the month of December, none of which could be shipped or recognized as revenue in 2019. We expect $30 million of fourth quarter 2019 timing changes to be recognized in 2020, with associated diluted earnings per share ($0.15 to $0.20) also in 2020; and (2) inefficiencies from ramp up costs associated with our Big LNG 2020 manufacturing activity and the capacity expansion for trailers and fueling stations in D&S East. The estimated impact of these costs to diluted earnings per share in the fourth quarter was $0.12 to $0.15 also reflected in our 2020 guidance. We expect that with the associated volumes in 2020, these inefficiencies will repeat in the first quarter of 2020 but be absorbed by the second quarter.Our 2020 guidance includes one Big LNG project’s revenue (Venture Global Calcasieu Pass). Any additional Big LNG orders, which we do anticipate receiving in 2020, are not included in the outlook.Revenue: Our revenue outlook is $1.645 billion to $1.71 billion, compared to the prior total revenue outlook of $1.615 to $1.68 billion. The increase is driven from the timing shifts of fourth quarter 2019 orders and revenue. Both guides are and were inclusive of $100 million dollars of Calcasieu Pass related revenue. While we expect to receive formal notice to proceed (“FNTP”) on Driftwood and Cheniere Corpus Stage 3 Big LNG projects in 2020, these opportunities are not included in our current revenue or earnings per share guidance.Adjusted Diluted EPS: We expect full year adjusted earnings per diluted share to be in the range of $4.90 to $5.50 per share, on approximately 36.1 million weighted average diluted shares outstanding. This is an increase from our prior outlook of $4.75 to $5.25 per share. This excludes any restructuring costs and transaction-related costs, or any dilution associated with our convertible notes, and as such is a non-GAAP measure. Timing within the year: The 2020 outlook is weighted to the second half of the year for both revenue and earnings. Typically, the first quarter of the year is our lowest quarter, and we expect that will hold true in 2020, with expected results at or slightly below our fourth quarter 2019 results. Additionally, Calcasieu Pass revenue recognition will primarily be in the third and fourth quarters.Tax rate: Our 2020 tax rate is assumed at 20%. This is an improvement from our prior outlook’s tax rate of 21%, driven by the strategic tax planning efforts completed in the fourth quarter of 2019.Capital Expenditures: Our capital expenditure outlook remains between $35 and $40 million, inclusive of $30 million of maintenance capex and between $5 and $10 million related to our productivity and strategic capacity expansion activities. Note that this range is consistent with our 2019 actual capital spend of $36.2 million.Free Cash Flow: Our free cash flow outlook is $180 million to $210 million, inclusive of $30 million of free cash flow related to Calcasieu Pass.FORWARD-LOOKING STATEMENTSCertain statements made in this presentation are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements concerning the Company’s business plans, including statements regarding completed acquisitions, cost synergies and efficiency savings, objectives, future orders, revenues, margins, earnings or performance, liquidity and cash flow, capital expenditures, business trends, governmental initiatives, including executive orders and other information that is not historical in nature. Forward-looking statements may be identified by terminology such as “may,” “will,” “should,” “could,” “expects,” “anticipates,” “believes,” “projects,” “forecasts,” “outlook,” “guidance,” “continue,” “target,” or the negative of such terms or comparable terminology.Forward-looking statements contained in this presentation or in other statements made by the Company are made based on management’s expectations and beliefs concerning future events impacting the Company and are subject to uncertainties and factors relating to the Company’s operations and business environment, all of which are difficult to predict and many of which are beyond the Company’s control, that could cause the Company’s actual results to differ materially from those matters expressed or implied by forward-looking statements. Factors that could cause the Company’s actual results to differ materially from those described in the forward-looking statements include: the Company’s ability to successfully integrate recent acquisitions and achieve the anticipated revenue, earnings, accretion and other benefits from these acquisitions; and the other factors discussed in Item 1A (Risk Factors) in the Company’s most recent Annual Report on Form 10-K filed with the SEC, which should be reviewed carefully. The Company undertakes no obligation to update or revise any forward-looking statement.This presentation contains non-GAAP financial information, including adjusted earnings per diluted share, net earnings adjusted, and free cash flow. For additional information regarding the Company’s use of non-GAAP financial information, as well as reconciliations of non-GAAP financial measures to the most directly comparable financial measures calculated and presented in accordance with accounting principles generally accepted in the United States (“GAAP”), please see the pages at the end of this news release and the slides titled “Q4 and Full Year 2019 adjusted diluted EPS” and “Free Cash Flow Reconciliation” included in the appendix at the end of this presentation.Chart is a leading diversified global manufacturer of highly engineered equipment servicing multiple market applications in Energy and Industrial Gas. The majority of Chart’s products are used throughout the liquid gas supply chain for purification, liquefaction, distribution, storage and end-use applications, a large portion of which are energy-related. Chart has domestic operations located across the United States and an international presence in Asia, Australia, Europe and the Americas. For more information, visit: http://www.chartindustries.com.USE OF NON-GAAP FINANCIAL INFORMATIONTo supplement the unaudited condensed consolidated financial statements presented in accordance with U.S. GAAP in this news release, certain non-GAAP financial measures as defined by the SEC rules are used. The Company believes these non-GAAP measures are of interest to investors and facilitate useful period-to-period comparisons of the Company’s financial results, and this information is used by the Company in evaluating internal performance. See the pages at the end of this news release for the reconciliations of adjusted earnings per diluted share, net earnings, adjusted, and free cash flow, the non-GAAP measures included in this release.With respect to the Company’s 2020 full year earnings outlook, the Company is not able to provide a reconciliation of the adjusted earnings per diluted share because certain items may have not yet occurred or are out of the Company’s control and / or cannot be reasonably predicted.CONFERENCE CALLAs previously announced, the Company will discuss its fourth quarter and full year 2019 results on a conference call on Thursday, February 13, 2020 at 9:30 a.m. ET. Participants may join the conference call by dialing (877) 312-9395 in the U.S. or (970) 315-0456 from outside the U.S., entering conference ID 8278408. Please log-in or dial-in at least five minutes prior to the start time.A taped replay of the conference call will be archived on the Company’s website, www.chartindustries.com. You may also listen to a recorded replay of the conference call by dialing (855) 859-2056 in the U.S. or (404) 537-3406 outside the U.S. and entering Conference ID 8278408. The replay will be available beginning 1:00 p.m. ET, Thursday, February 13, 2020 until 1:00 p.m. ET, Thursday, February 20, 2020.For more information, click here:http://ir.chartindustries.com/See URL below for a link to our Supplemental Information for our 2019 Fourth Quarter and Full Year Results:http://ml.globenewswire.com/Resource/Download/67d8a7db-721e-4e58-ba3a-0da3194d88a2Contact:_______________
⁽¹⁾ Includes sales and operating income for AXC, included in the E&C FinFans segment results since the acquisition date, July 1, 2019 as follows:Sales were $103.1 and $43.2 for the year and quarter ended December 31, 2019, respectively, andOperating income was $4.6 and $2.0 for the year and quarter ended December 31, 2019, respectively, which included $18.4 and $7.3 of depreciation and amortization expense for the year and quarter ended December 31, 2019, respectively.⁽²⁾ Includes sales and operating loss for VRV, included in the D&S East and E&C Cryogenics segments results since the acquisition date, November 15, 2018 as follows:Sales were $104.0 (D&S East: $57.1, E&C Cryogenics: $46.9) for the year ended December 31, 2019,Sales were $14.1 (D&S East: $10.3, E&C Cryogenics: $3.8) for the year ended December 31, 2018,Operating loss was $11.2 (D&S East: $9.7, E&C Cryogenics: $1.5) for the year ended December 31, 2019, andOperating (loss) income was $(2.0) (D&S East: $0.2, E&C Cryogenics: $(2.2)) for the year ended December 31, 2018, which included $1.5 of depreciation and amortization expense and $1.6 in expense recognized in the cost of sales related to inventory step-up.⁽³⁾ Includes depreciation expense of:$11.2 and $7.8 for the three months ended December 31, 2019 and 2018, respectively, and$39.0 and $28.9 for the year ended December 31, 2019 and 2018, respectively.⁽⁴⁾ Includes restructuring costs of:$2.3 and $0.9 for the three months ended December 31, 2019 and 2018, respectively, and$15.6 and $4.4 for the year ended December 31, 2019 and 2018, respectively.⁽⁵⁾ Includes an expense of $0.2 and $4.0 recorded to cost of sales related to the estimated costs of the aluminum cryobiological tank recall for the three and twelve months ended December 31, 2018, respectively.
⁽⁶⁾ Includes transaction-related costs of $5.4 for the year ended December 31, 2019, which were mainly related to the AXC acquisition. Includes integration costs of $1.6 related to the AXC acquisition for the year ended December 31, 2019.
⁽⁷⁾ Includes transaction-related costs of $2.1 for the year ended December 31, 2018, which were mainly related to the VRV acquisition. Includes integration costs of $2.7 and $0.8 related to the VRV acquisition for the years ended December 31, 2019 and 2018 respectively.
⁽⁸⁾During the year ended December 31, 2018, we recorded net severance costs of $2.3 primarily related to headcount reductions associated with the strategic realignment of our segment structure, which includes $1.8 in payroll severance costs partially offset by a $0.9 credit due to related share-based compensation forfeitures. Includes net severance costs of $1.4 related to the departure of our former CEO, which includes $3.2 in payroll severance costs partially offset by a $1.8 credit due to related share-based compensation forfeitures for the year ended December 31, 2018.
⁽⁹⁾Includes gain on sale of the CAIRE business of $34.3, net of taxes of $2.6, for the three months and year ended December 31, 2018.
⁽¹⁰⁾Includes an additional 0.84 shares related to the convertible notes due 2024 and associated warrants in our diluted earnings per share calculation for the year ended December 31, 2019. The associated hedge, which helps offset this dilution, cannot be taken into account under U.S. generally accepted accounting principles (“GAAP”). If the hedge could have been considered, it would have reduced the additional shares by 0.82 for the year ended December 31, 2019.
⁽¹¹⁾Includes an additional 0.48 and 0.38 shares related to the convertible notes due 2024 and associated warrants in our diluted earnings per share calculation for the three and twelve months ended December 31, 2018, respectively. The associated hedge, which helps offset this dilution, cannot be taken into account under U.S. generally accepted accounting principles (“GAAP”). If the hedge could have been considered, it would have reduced the additional shares by 0.48 and 0.38 for the three and twelve months ended December 31, 2018, respectively._______________
⁽¹⁾Includes proceeds from the sale of CAIRE of $133.5 for both the three and twelve months ended December 31, 2018.
⁽²⁾Includes restricted cash and restricted cash equivalents of $1.0 for all periods presented.

CHART INDUSTRIES, INC. AND SUBSIDIARIES
OPERATING SEGMENTS (UNAUDITED)
(Dollars in millions)_______________
⁽¹⁾ Includes sales and operating income for AXC, included in the E&C FinFans segment results since the acquisition date, July 1, 2019 as follows:Sales were $103.1 and $43.2 for the year and quarter ended December 31, 2019, respectively, andOperating income was $4.6 and $2.0 for the year and quarter ended December 31, 2019, respectively, which included $18.4 and $7.3 of depreciation and amortization expense for the year and quarter ended December 31, 2019, respectively.⁽²⁾ Includes sales and operating (loss) income for VRV, included in the D&S East and E&C Cryogenics segments results since the acquisition date, November 15, 2018 as follows:Sales were $104.0 (D&S East: $57.1, E&C Cryogenics: $46.9) for the year ended December 31, 2019,Sales were $14.1 (D&S East: $10.3, E&C Cryogenics: $3.8) for the year ended December 31, 2018,Operating loss was $11.2 (D&S East: $9.7, E&C Cryogenics: $1.5) for the year ended December 31, 2019, andOperating (loss) income was $(2.0) (D&S East: $0.2, E&C Cryogenics: $(2.2)) for the year ended December 31, 2018, which included $1.5 of depreciation and amortization expense and $1.6 in expense recognized in the cost of sales related to inventory step-up.⁽³⁾ Restructuring costs for the three months ended:December 31, 2019 were $2.3 ($0.4 – D&S East, $0.1 – D&S West, $0.1 – E&C Cryogenics, and $1.7 – E&C FinFans).December 31, 2018 were $0.9 ($0.8 – D&S East, $0.2 – E&C Cryogenics, and a credit of $0.1 – Corporate)⁽⁴⁾ Restructuring costs for the twelve months ended:December 31, 2019 were $15.6 ($8.5 – D&S East, $0.9 – D&S West, $2.5 – E&C Cryogenics, $3.5 – E&C FinFans, and $0.2 – Corporate).December 31, 2018 were $4.4 ($1.4 D&S East, $0.6 – E&C Cryogenics, $0.1 – E&C FinFans, and $2.3 – Corporate).⁽⁵⁾ Includes an expense of $0.2 and $4.0 recorded to cost of sales related to the estimated costs of the aluminum cryobiological tank recall for the three and twelve months ended December 31, 2018, respectively.
⁽⁶⁾ Includes transaction-related costs of $5.4 for the year ended December 31, 2019, which were mainly related to the AXC acquisition. Includes integration costs of $1.6 related to the AXC acquisition for the year ended December 31, 2019.
⁽⁷⁾ Includes transaction-related costs of $2.1 for the year ended December 31, 2018, which were mainly related to the VRV acquisition. Includes integration costs of $2.7 and $0.8 related to the VRV acquisition for the years ended December 31, 2019 and 2018 respectively.
⁽⁸⁾ During the year ended December 31, 2018, we recorded net severance costs of $2.3 primarily related to headcount reductions associated with the strategic realignment of our segment structure, which includes $1.8 in payroll severance costs partially offset by a $0.9 credit due to related share-based compensation forfeitures. Includes net severance costs of $1.4 related to the departure of our former CEO, which includes $3.2 in payroll severance costs partially offset by a $1.8 credit due to related share-based compensation forfeitures for the year ended December 31, 2018.
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⁽¹⁾ E&C Cryogenics segment orders for the year ended December 31, 2019 includes a $23 million order for a propane dehydrogenation plant. E&C Cryogenics segment orders for the year ended December 31, 2018 includes a $13 million order for equipment for a natural gas liquids fractionation project. This order shipped partially in 2018, and the remainder shipped in 2019.
⁽²⁾ E&C FinFans segment orders includes $28.7 and $52.2 in orders related to AXC for the three months and twelve months ended December 31, 2019, respectively.
⁽³⁾ Includes $11.2 in orders related to VRV (D&S East: $8.7, E&C Cryogenics: $2.5) for the twelve months ended December 31, 2018.
⁽⁴⁾ Included in the E&C Cryogenics segment backlog for all periods presented is approximately $40 million related to the previously announced Magnolia LNG order.
⁽⁵⁾ E&C FinFans segment backlog as of December 31, 2019, September 30, 2019 includes $31.5 and $47.7 related to AXC, respectively.
⁽⁶⁾ Includes $31.5 in backlog related to AXC as of December 31, 2019 and $81.6 in backlog related to VRV (D&S East: $42.3, E&C Cryogenics: $39.3) as of December 31, 2018.
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⁽¹⁾ During 2019, we recorded $15.6 of restructuring costs primarily related to the consolidation of certain of our facilities including facility consolidation in our E&C FinFans segment, as well as departmental restructuring, including headcount reduction and streamlining commercial activities within our Lifecycle business in our previous E&C segment and geographic realignment of manufacturing capacity in D&S East.
⁽²⁾ Includes $2.3 in expense recognized in cost of sales related to inventory step-up for 2019 related to VRV. We also incurred $0.8 and $1.6 related to AXC integration activities during the three and twelve months ended December 31, 2019, respectively and $1.0 and $2.7 related to VRV integration activities during the three and twelve months ended December 31, 2019, respectively.
⁽³⁾ Includes an expense of $0.2 and $4.0 recorded to cost of sales related to the estimated costs of the aluminum cryobiological tank recall for the three and twelve months ended December 31, 2018, respectively.
⁽⁴⁾ Includes gain on sale of the CAIRE business of $34.3, net of taxes of $2.6, for the year ended December 31, 2018.
⁽⁵⁾ Includes an additional 0.84 shares related to the convertible notes due 2024 and associated warrants in our diluted earnings per share calculation for the year ended December 31, 2019. The associated hedge, which helps offset this dilution, cannot be taken into account under U.S. generally accepted accounting principles (“GAAP”). If the hedge could have been considered, it would have reduced the additional shares by 0.82 for the year ended December 31, 2019.
⁽⁶⁾ Includes an additional 0.48 and 0.38 shares related to the convertible notes due 2024 and associated warrants in our diluted earnings per share calculation for the three and twelve months ended December 31, 2018, respectively. The associated hedge, which helps offset this dilution, cannot be taken into account under U.S. generally accepted accounting principles (“GAAP”). If the hedge could have been considered, it would have reduced the additional shares by 0.48 and 0.38 for the three and twelve months ended December 31, 2018, respectively.Adjusted earnings per diluted share is not a measure of financial performance under U.S. GAAP and should not be considered as an alternative to earnings per share in accordance with U.S. GAAP. Management believes that adjusted earnings per share facilitates useful period-to-period comparisons of our financial results and this information is used by us in evaluating internal performance. Our calculation of this non-GAAP measure may not be comparable to the calculations of similarly titled measures reported by other companies.
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Income from continuing operations attributable to Chart Industries, Inc., adjusted is not a measure of financial performance under U.S. GAAP and should not be considered as an alternative to net income in accordance with U.S. GAAP. Management believes that income from continuing operations attributable to Chart Industries, Inc., adjusted, facilitates useful period-to-period comparisons of our financial results and this information is used by us in evaluating internal performance. Our calculation of this non-GAAP measure may not be comparable to the calculations of similarly titled measures reported by other companies.
_______________Free cash flow is not a measure of financial performance under U.S. GAAP and should not be considered as an alternative to net cash provided by operating activities in accordance with U.S. GAAP. Management believes that free cash flow facilitates useful period-to-period comparisons of our financial results and this information is used by us in evaluating internal performance. Our calculation of this non-GAAP measure may not be comparable to the calculations of similarly titled measures reported by other companies.

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Adjusted gross profit, adjusted gross profit margin and adjusted selling, general and administrative expenses are not measures of financial performance under U.S. GAAP and should not be considered as an alternative to gross profit, gross profit margin and selling, general and administrative expenses in accordance with U.S. GAAP. Management believes that adjusted gross profit, adjusted gross profit margin and adjusted selling, general and administrative expenses facilitate useful period-to-period comparisons of our financial results and this information is used by us in evaluating internal performance. Our calculations of these non-GAAP measures may not be comparable to the calculations of similarly titled measures reported by other companies.

Cannabis

New to The Street Announces its Five Corporate Interviews, airings on Newsmax and FOX Business Network

Published

2 days ago

September 22, 2023

GlobeNewswire

NEW YORK, Sept. 22, 2023 (GLOBE NEWSWIRE) — FMW Media’s New to The Street, a premier business television show, announces their featured corporate lineups on shows 512 and 513. Each show is to air across New to The Street’s televised platforms on Newsmax and the FOX Business Network.

New to The Street airs on Newsmax, Episode 512, on Saturday, September 23, 2023, at 3:30 PM ET, and the FOX Business Network, Episode 513, on Monday, September 25, 2023, at 10:30 PM PT, featuring the following five (5) Corporate interviews:

1). American Made Products – American Rebel Holdings, Inc.’s (NASDAQ: AREB) ($AREB) interview with Andy Ross, Chairman/CEO.

2). E-commerce/ Digital Marketing – Society Pass Incorporated’s (NASDAQ: SOPA) ($SOPA) interview with Rokas Sidlauskas, Chief Marketing Officer.

3). Health Sciences – PreveCeutical Medical, Inc.’s (OTCQB: PRVCF) (CSE: PREV) (FSE: 18H) ($PRVCF) interview with Stephen Van Deventer, Chairman/CEO.

4). Artist – Hope Tain Oil Painting’s interview with Hope Tain, Artist/Owner.

5). “Sekur Privacy & Sekur Security Segment – The Weekly Hack” interview with internet privacy expert Mr. Alain Ghiai, CEO, Sekur Private Data, Ltd. (OTCQX: SWISF) (CSE: SKUR) (FRA: GDT0) ($SWISF) (Sekur®).

America Rebel Holdings, Inc.’s (NASDAQ: AREB) ($AREB) Chairman/CEO Andy Ross is with New to The Street’s TV Host Jane King. From the Nasdaq MarketSite studio, Andy talks about AREB, a NASDAQ publicly traded company that makes “American Made” products. Recognized as “America’s Patriotic Brand,” the Company has several product lines, including safes. A recent FBI raid on the home of a suspected participant on January 6, 2021, at the US Capitol Building revealed a disturbing issue. A competitor’s safe, Liberty Safe, was in the home, and the FBI contacted that manufacturer about the make and model and then Liberty handed over data to open the safe without proper legal premise. Andy explains to viewers that the Company would request appropriate legal service if the FBI contacted American Rebel regarding its Champion safe. Andy informs viewers that American Rebel believes in the United States’ Constitution and those rights inherent to Americans. Privacy is essential to every American, and if the FBI served the Company, Management would fight the legal subpoena under constitutional grounds. American Rebel would never hand over proprietary safe codes.. Demand is up for the Champion’s safes because of this FBI incident. American Rebel’s Champion Safes are affordable and reliable. Another soon-to-launch American Rebel product, “American Rebel Beer,” is coming to market. The US Beer market generates around $44B yearly, and American Rebel Beer is looking forward to breaking into the US Beer market. The roll-out of its lager and light beers will be regional, with the expectation of becoming national in 2024. It is working on other beer flavors, with roll-outs expected in the months ahead. During the Show, Andy announces his new Music CD, “I Stand for You,” which can be heard on airwaves or downloaded digitally. The American Rebel Beer jingle will air soon. Viewers can learn more about the Company’s mission and products through its strong social media presence, websites, and websites like www.americanrebel.com and www.andyross.com. The on-screen QR code is available during the show; download or visit America Rebel, Inc. – http://www.americanrebel.com/.

From the Nasdaq MarketSite studio, Rokas Sidlauskas, Chief Marketing Officer of Society Pass Incorporated (NASDAQ: SOPA) ($SOPA) (“Society Pass”) talks with New to The Street’s TV Host Jane King about SOPA. With a focus on acquisitions and growing its next-generation digital e-commerce platform, SOPA continues to onboard businesses and individuals throughout Southeast Asia. Rokas explains that with about 650 million people, SE Asia is a strong growing market, and SOPA has positioned itself to take advantage of this demographic. SOPA has business operations in Vietnam with a population of 100M, and about 55% are under 30. With a highly tech-savvy population, SE Asia embraces technology and digital solutions. The Company’s loyalty program can be interchangeable in other countries. Through SOPA’s business verticals in retail goods, fintech, telecom, travel, food/beverage, and digital marketing, Rokas gives an example where travel rewards in one country are available to purchase retail products in a different country. SOPA has business operations in Singapore, Vietnam, Philippines, Indonesia, and Thailand and is looking into expanding into Malaysia. 70% of the SE Asian population does not have a conventional banking account; they use digital wallets for purchases. Rokas believes SOPA has opportunities to expand its digital ecosystem to the “Unbanked.” The Company continues executing its business plan and wants to increase its digital ecosystem loyalty program. The loyalty app is available for iOS and Android downloads. The on-screen QR code is available during the show; download or visit Society Pass Incorporated – https://thesocietypass.com/.

PreveCeutical Medical, Inc.’s (OTCQB: PRVCF) (CSE: PREV) (FSE: 18H) ($PRVCF) (“PreveCeutical”) Chairman and CEO Stephen Van Deventer talks with New to The Street’s TV Host Jane King. PreveCeutical is a medical science company that develops innovative options for preventive and curative therapies using natural and organic compounds. The Company can synthesize molecular organic compounds through its proprietary technology and extensive peptide library to create preventative medical solutions. Using the technology, PreveCeutical developed a compound tested on mice, providing pre-clinical results on a non-addictive pain treatment more potent than opioids and morphine with no significant side effects. A pharmaceutical journal published a peer-review of the pre-clinical results. Stephen has a background in investment banking and was involved in the cannabis industry. He was involved with Aurora Cannabis Company and is passionate about finding organic and natural medical preventative solutions. The scientific team at PreveCeutical consists of doctors, PhDs, and engineers, all with impressive credentials in the pharmacology and pharmaceutical industries. With pre-clinical solid data, the team is moving forward on a clinical trial with the hopes of obtaining fast-track regulatory approvals in the US, Europe, and Australia for commercial distribution of a novel non-addictive pain management drug. The on-screen QR code is available during the show; download or visit PreveCeutical Medical, Inc. – https://www.preveceutical.com/.

New to The Street’s TV Host Jane King, from the Nasdaq MarketSite studio, interviews Hope Tain, Artist/Owner of Hope Tain Oil Painting. Hope was born and raised in Beijing, China, and in the late 1990s she moved to the US to pursue her graduate degree in New York State. In 2011, Hope painted a portrait for her son as his birthday gift; she realized her talent and pursued her art career. As self-taught and working with oil, Tain creates beautiful art depicting portraits, landscapes, seascapes, and still life, anything that inspires her. Tain explains that she visualizes each oil canvas painting before beginning each artwork. Inspirations can come from the Master artists or the simplest of events in her life, but LOVE provides her with the most inspiration for her creativity. Art taught Hope anything is possible, and pursuing her passion becomes a fulfilling career. She is grateful for her family, friends, other artists, and the art gallery communities, all providing support and influential inspiration for her oils. Currently living in Massachusetts, artwork done by Hope Tain is available for sale, or you can commission her talent for your unique and personal piece of art. The on-screen QR code is available during the show; download or visit Hope Tain Oil Painting – https://www.hopetianart.com/.

This week’s New to the Street TV “Weekly Sekur Privacy & Sekur Security Segment” with internationally acclaimed internet privacy expert Mr. Alain Ghiai, CEO of Sekur Private Data Ltd. (OTCQX: SWISF) (CSE: SKUR) (FRA: GDT0) ($SWISF) and TV Host / Multi-media Journalist Ana Berry discuss the most recent “Phishing” attack. Ana recently received a suspicious text message disguised as genuine from the United States Postal Service (USPS). Phishing is occurring on text messaging platforms, with the hacker’s objective for one to click the message link so malware downloads on the device. Alain states that Phishing increased rapidly during and after COVID because of the increased demand for online purchasers. During checkout, most sites ask for a phone number; the hackers have that information and now try to entice the unaware to click links on text messages. Sekur’s cybersecurity products never ask for a phone number. SekurVPN, SekurMail, and SekurMessenger, each with unique features, can significantly minimize the threat of becoming a cybersecurity victim. The SekurMessenger comes with the “Chat-by-Invite” feature, which allows for a close-loop, encrypted platform protecting the subscriber and chat recipient from a possible hack. The whole text message is within Sekur’s servers located in Switzerland. The “Chat-by-Invite” is available for use in 80 countries. SekurMail, with its SekurSend/SekurReply feature, offers subscribers another excellent option for secure encrypted communications. Alain believes that to enhance your internet invisibility and greatly diminish your web footprint, use the Company’s SekurVPN service; subscribers get a Swiss IP address. The Company is offering PROMO CODE: PRIVACY; subscribers can get an additional 15% off monthly and yearly subscriptions for five years. Sekur Private Data, Ltd. does no data mining, no internet traffic tracking, no shared servers, no open-platform coding, and no third-party providers, and never asks for a phone number, and the Company owns and operates its servers in Switzerland, a country with strict privacy laws. The on-screen QR code is available during the shows to download more info or visit Sekur Private Data, Ltd. – https://sekurprivatedata.com/, http://www.Sekur.com and https://www.sekurvpn.com/. “What is your privacy worth?”

About American Rebel Holdings, Inc. (NASDAQ: AREB) ($AREB):

American Rebel Holdings, Inc. (NASDAQ: AREB) ($AREB) operates primarily as a designer, manufacturer, and marketer of branded safes and personal security and self-defense products. The Company also designs and produces branded apparel and accessories – www.americanrebel.com & www.americanrebel.com/investor-relations.

About Society Pass Incorporated (NASDAQ: SOPA) ($SOPA):

Founded in 2018 as a data-driven loyalty, fintech, and e-commerce ecosystem in the fast-growing markets of Vietnam, Indonesia, Philippines, Singapore, and Thailand, which account for more than 80% of the Southeast Asia (SEA) population, and with offices located in Los Angeles, Bangkok, Ho Chi Minh City, Jakarta, Manila, and Singapore, Society Pass Incorporated (NASDAQ: SOPA) is an acquisition-focused holding company operating six interconnected verticals (loyalty, digital media, travel, telecoms, lifestyle, and F&B), which seamlessly connects millions of registered consumers and hundreds of thousands of registered merchants/brands across multiple product and service categories throughout SEA. Society Pass leverages technology to tailor a more personalized experience for customers in the purchase journey and transform the entire SEA retail value chain. SOPA operates Thoughtful Media Group, a Thailand-based, social commerce-focused, premium digital video multi-platform network; NusaTrip, a leading Indonesia-based Online Travel Agency; Gorilla Networks, a Singapore-based, web3-enabled mobile blockchain network operator; Leflair.com, Vietnam’s leading lifestyle e-commerce platform; Pushkart.ph, a popular grocery delivery company in the Philippines; Handycart.vn, a leading online restaurant delivery service based in Vietnam; and Mangan.ph, a leading local restaurant delivery service in Philippines – https://thesocietypass.com/.

About PreveCeutical Medical, Inc. (OTCQB: PRVCF) (CSE: PREV) (FSE: 18H) ($PRVCF):

PreveCeutical Medical, Inc. (OTCQB: PRVCF) (CSE: PREV) (FSE: 18H) ($PRVCF) is a health sciences company that develops innovative options for preventive and curative therapies utilizing organic and nature-identical products. The Company aims to be a leader in the preventive health sciences sector. With the completion of three of its research programs, the Company is actively working on the development, clinical trials, and commercialization of its products and has filed several provisional patent applications to protect the intellectual property from its research programs – https://www.preveceutical.com/.

About Hope Tain Oil Painting:

Hope Tain Oil Painting’s Artist/Owner, Hope Tian, finds great excitement and creativity in exploring varied subjects and eclectic oil painting styles. Her artwork ranges from impressionistic or post-impressionistic to expressionistic or fauvist to truly representational to abstract. Hope’s paintings are heavily influenced by her keen interest in and ongoing study of master painters. Standing before Hope Tian’s original oil painting, there is a deep emotional expression, creatively textured layering, vividly vibrant colors, and lively free brush strokes ranging from the lightest touch to heavy, thick paint, all resulting in a unique artistic experience – https://www.hopetianart.com/.

About Sekur Private Data Ltd. (OTCQX: SWISF) (CSE: SKUR) (FRA: GDT0) ($SWISF):

Sekur Private Data, Ltd. (OTCQX: SWISF) (CSE: SKUR) (FRA: GDT0) ($SWISF) is a cybersecurity and internet privacy provider of Swiss-hosted solutions for secure communications and secure data management. The Company distributes a suite of secure cloud-based storage, disaster recovery, document management, encrypted emails, and secure communication tools. It sells its products through its websites, www.sekur.com, approved distributors, and telecommunication companies worldwide. Sekur Private Data, Ltd. serves consumers, businesses, and governments worldwide – https://www.sekurprivatedata.com and https://www.sekur.com; Twitter: @sekurprivate.

About New to The Street:

New to The Street is an FMW Media production that operates one of the longest-running US and International sponsored and syndicated Nielsen-rated programming television brands, “New to The Street. Since 2009, New to The Street has run biographical interview segment shows across major U.S. television networks. The Nielsen Rated and sponsored broadcasts programming platform reaches millions of homes in the US and international markets. FMW’s New to The Street / Newsmax televised broadcasting platform airs its syndication on Saturdays at 3:30 – 4:00 PM ET. The show also appears on Bloomberg and the FOX Business Network as sponsored programming. FMW is also one of the nation’s largest buyers of linear television, long and short-form paid programming – https://www.newsmaxtv.com/Shows/New-to-the-Street, https://www.newtothestreet.com/ & https://www.youtube.com/watch?v=4-G2–mRQUw&t=14s.

Forward-Looking Statements Disclaimer US/Canada:

This press release contains forward-looking statements within Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934. In some cases, you can identify forward-looking statements by the following words: “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “ongoing,” “plan,” “potential,” “predict,” “project,” “should,” “will,” “would,” or the negative of these terms or other comparable terminology. However, not all forward-looking statements contain these words. Forward-looking statements do not guarantee future performance or results and will not necessarily be accurate indications of when such performance or results are achieved. This press release should be considered in all filings of the Companies contained in the Edgar Archives of the Securities and Exchange Commission at www.sec.gov.

This press release contains forward-looking information within the meaning of applicable Canadian securities laws. Forward-looking information is often, but not always, identified by the use of words such as “seek”, “anticipate”, “believe”, “plan”, “estimate”, “expect”, “likely” and “intend” and statements that an event or result “may”, “will”, “should”, “could” or “might” occur or be achieved and other similar expressions. These statements reflect management’s current beliefs and are based on information currently available to management as of the date hereof. Forward-looking information in this press release includes, without limiting the foregoing, expectations regarding agents that join Real. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

CONTACT:

FMW Media Contact:
Monica Brennan
monica@NewtoTheStreet.com
1-917-330-2564

“New to The Street” Business Development Office
1-516-696-5900
Support@NewToTheStreet.com

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/a4b7c17b-6423-479b-a6df-538a9d6f9969

A video accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/7d40201e-691f-48b2-9547-21f579bda0bb

Cannabis

CBD Skin Care Market Size is projected to reach USD 6466.43 million by 2030, growing at a CAGR of 32.15%: Straits Research

Published

4 days ago

September 20, 2023

GlobeNewswire

New York, United States, Sept. 20, 2023 (GLOBE NEWSWIRE) — Cannabidiol (CBD), derived from cannabis resin, is non-intoxicating. Cannabinoid (CBD) is most typically used with oils. CBD oil has anti-inflammatory, antioxidant, and skin-soothing properties. CBD oil is currently a popular ingredient in skin care and personal care products.

Since marijuana and cannabis-based cosmetics were legalized, CBD-infused skin care products have gained popularity. CBD-infused skin care products are popular because they relax. Anti-inflammatory and anti-oxidant properties make it a promising skin care ingredient. CBD-based skincare products can improve sleep and treat eczema, psoriasis, and acne. CBD-based skin care is popular among cosmetic brands. CBD-infused skin care is marketed as “natural cosmetics” CBD skin care products are expected to become popularity due to their versatility.

Get a Free Sample Copy of This Report @ https://straitsresearch.com/report/cbd-skin-care-market/request-sample

Global CBD Skin Care Market: DRIVERS

Cannabis-Derived Skin Care Products Are Gaining Popularity

A surge in the working population around the world has increased spending power and awareness of the range of commodities on the market, boosting sales of quality products. These factors have led to growing global demand for natural and organic personal care items.

People are becoming increasingly familiar with the benefits of CBD skin care products, such as CBD oil in their daily coffee, using it to their skin to relieve pain, consuming it to relieve anxiety, and using it in their sex life.

Social-Media’s Impact on Skin Diseases

Because of pollution and UV radiation, which can cause skin burns, blackening, and cancer, consumers are turning to CBD-infused cosmetics and skincare products. Consumers’ increased acquaintance with the newest skin care products helps boost sales. Companies increasingly use celebrities to sell their products and spend a lot on advertising.

YouTube and Instagram are important influences on today’s society. These portals help people find CBD skin care products. Rising customer awareness of the benefits and availability of new products should benefit the global market in the futur

Global CBD Skin Care Market: KEY FUTURE OPPORTUNITIES

Technological Advances and Mergers Create New Opportunities

Recent scientific advances have resulted to innovative CBD extracts and combinations for skin care. CBD-infused goods from multinational firms are capturing new markets and establishing new cash streams. Avon plans to develop vegan skin care products with CBD oil in 2020. As the cannabis beauty industry grows, component approaches vary. These factors boost market growth.

A growing number of technological innovations are driven by a desire to lower production costs and to foster sustainable growth from 2022 to 2030.

Report Scope

Report Metric	Details
Market Size by 2030	USD 6466.43 million
Market Size in 2021	USD 526.09 million
CAGR	32.15% (2022-2030)
Historical Data	2020-2021
Base Year	2022
Forecast Period	2023-2031
Forecast Units	Value (USD million)
Report Coverage	Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered	By Technology, By Application, By Location
Geographies Covered	North America, Europe, Asia-Pacific, LAME and Rest of the World
Key Companies Profiled/Vendors	Kiehl’s LLC, Medical Marijuana, ENDOCA, Elixinol Global ltd, Lord Jones, Icanic Brands Company, Inc., LEEF Organics, The CBD Skincare Co, Kana Skincare, Apothecana, Josie Maran Cosmetics, FOLIUM BIOSCIENCES, CBD for life, Pacific Roots LLC,
Key Market Opportunities	Technological Advances and Mergers Create New Opportunities
Key Market Drivers	Cannabis-Derived Skin Care Products Are Gaining Popularity

Buy Now Full Report @ https://straitsresearch.com/buy-now/cbd-skin-care-market

North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa make up the CBD Skin Care Market.

North America, which had over 45% of the market in 2021, is expected to grow quickest. Demand for CBD skin care products in North America is expected to continue high due to a large client base and the legalization of marijuana. Due to legalization in 33 states and DC, the US possesses the world’s largest cannabis market. Cannabis legalization and well-known beauty product makers should boost industry growth in the next years.

CBD-infused skin care products may fuel US customer demand. The FDA Regulation of Cannabidiol (CBD) Products prohibits marijuana but not hemp or cannabis. Manufacturing and selling CBD derivatives is lawful. CBD derivatives may be used as lotions, serums, and ointments.

Asia Pacific will grow rapidly in the future years. China, India, Japan, and Korea are expected to see substantial growth. J-beauty and K-beauty lead the worldwide skincare market, despite cannabis being illegal in Asia. This market is expected to grow rapidly in Asia.

China is one of the main manufacturers of cannabis made from hemp, and the World Bank and IMF expect it to monopolize the market throughout the predicted period. China allows the production and sale of CBD products with a maximum 0.3% THC content from cannabis Sativa fruit, seed oil, and leaf extract. This benefits its use in high-end skincare and luxury cosmetics.

Due to changing legislation, India’s CBD skin care market is growing. The Narcotic Drugs and Psychotropic Substances Act of 1985 says it’s unlawful to produce cannabis in the U.S., although states can allow its commercial or research cultivation.

Key Highlights

The Global CBD Skin Care Market size is predicted to reach at USD 6466.43 million by 2030, increasing at a CAGR of 32.15% from 2022 to 2030.
By Source,the Global CBD Skin Care Market is segmented into Hemp and Marijuana. CBD skin care products derived from hemp maintained the biggest market share.
By Type,the Global CBD Skin Care Market is segmented into Oils, Creams & Moisturizers, Masks & Serums, Cleansers, and Others. In 2021, the market was led by skin care oils containing CBD.
By Region,the Global CBD Skin Care Market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. The market share is dominated by North America.

Major Players in Global CBD Skin Care Market

Kiehl’s LLC
Medical Marijuana
ENDOCA
Elixinol Global ltd
Lord Jones
Icanic Brands Company, Inc.
LEEF Organics
The CBD Skincare Co
Kana Skincare
Apothecana
Josie Maran Cosmetics
FOLIUM BIOSCIENCES
CBD for life
Pacific Roots LLC
Ecogen labs

Get a Free Sample Copy of This Report @ https://straitsresearch.com/report/cbd-skin-care-market/request-sample

Global CBD Skin Care Market: Segmentation

BY SOURCE

Hemp
Marijuana

BY TYPE

Oils
Creams & Moisturizers
Masks & Serums
Cleansers
Others

BY GEOGRAPHY

North America
Europe
Asia Pacific (APAC)
Latin America
Middle East and Africa (MEA)

TABLE OF CONTENT

EXECUTIVE SUMMARY
RESEARCH SCOPE & SEGMENTATION
1. Research Objectives
2. Market Definition
3. Limitations & Assumptions
4. Market Scope & Segmentation
5. Currency & Pricing Considered
MARKET OPPORTUNITY ASSESSMENT

1. Emerging Regions / Countries
2. Emerging Companies
3. Emerging Applications / End Use
4. Investment Landscape
5. New Business Models / Revenue Streams
6. TAM

MARKET TRENDS

1. Drivers
2. Market Warning Factors
3. Latest Macro Economic Indicators
4. Geopolitical Impact
5. Human Factors
6. Technology Factors

MARKET ASSESSMENT

1. Porters Five Forces Analysis
2. Value Chain Analysis
3. Sales And Distribution Channel Analysis
4. Average Pricing Analysis
5. Patent Analysis
6. M & A Agreements & Collabration Analysis
7. Export Import Analysis

ESG TRENDS
GLOBAL CBD SKIN CARE MARKET SIZE ANALYSIS

1. Global CBD Skin Care Market Introduction
2. By Source

1. 1. Introduction

1. 1. 1. Source By Value

1. 1. Hemp

1. 1. 1. By Value

1. 1. Marijuana

1. 1. 1. By Value

1. By Type

1. 1. Introduction

1. 1. 1. Type By Value

1. 1. Oils

1. 1. 1. By Value

1. 1. Creams & Moisturizers

1. 1. 1. By Value

1. 1. Masks & Serums

1. 1. 1. By Value

1. 1. Cleansers

1. 1. 1. By Value

1. 1. Others

1. 1. 1. By Value

NORTH AMERICA MARKET ANALYSIS

1. Introduction
2. By Source

1. 1. Introduction

1. 1. 1. Source By Value

1. 1. Hemp

1. 1. 1. By Value

1. 1. Marijuana

1. 1. 1. By Value

1. By Type

1. 1. Introduction

1. 1. 1. Type By Value

1. 1. Oils

1. 1. 1. By Value

1. 1. Creams & Moisturizers

1. 1. 1. By Value

1. 1. Masks & Serums

1. 1. 1. By Value

1. 1. Cleansers

1. 1. 1. By Value

1. 1. Others

1. 1. 1. By Value

1. U.S.

1. 1. By Source

1. 1. 1. Introduction
      1. Source By Value
    2. Hemp
      1. By Value
    3. Marijuana
      1. By Value

1. 1. By Type

1. 1. 1. Introduction
      1. Type By Value
    2. Oils
      1. By Value
    3. Creams & Moisturizers
      1. By Value
    4. Masks & Serums
      1. By Value
    5. Cleansers
      1. By Value
    6. Others
      1. By Value

1. Canada

EUROPE MARKET ANALYSIS

1. Introduction
2. By Source

1. 1. Introduction

1. 1. 1. Source By Value

1. 1. Hemp

1. 1. 1. By Value

1. 1. Marijuana

1. 1. 1. By Value

1. By Type
  1. Introduction

1. 1. 1. Type By Value

1. 1. Oils

1. 1. 1. By Value

1. 1. Creams & Moisturizers

1. 1. 1. By Value

1. 1. Masks & Serums

1. 1. 1. By Value

1. 1. Cleansers

1. 1. 1. By Value

1. 1. Others

1. 1. 1. By Value

1. U.K.

1. 1. By Source

1. 1. 1. Introduction
      1. Source By Value
    2. Hemp
      1. By Value
    3. Marijuana
      1. By Value

1. 1. By Type

1. 1. 1. Introduction
      1. Type By Value
    2. Oils
      1. By Value
    3. Creams & Moisturizers
      1. By Value
    4. Masks & Serums
      1. By Value
    5. Cleansers
      1. By Value
    6. Others
      1. By Value

1. Germany
2. France
3. Spain
4. Italy
5. Russia
6. Nordic
7. Benelux
8. Rest Of Europe

APAC MARKET ANALYSIS

1. Introduction
2. By Source

1. 1. Introduction

1. 1. 1. Source By Value

1. 1. Hemp

1. 1. 1. By Value

1. 1. Marijuana

1. 1. 1. By Value

1. By Type

1. 1. Introduction

1. 1. 1. Type By Value

1. 1. Oils

1. 1. 1. By Value

1. 1. Creams & Moisturizers

1. 1. 1. By Value

1. 1. Masks & Serums

1. 1. 1. By Value

1. 1. Cleansers

1. 1. 1. By Value

1. 1. Others

1. 1. 1. By Value

1. China

1. 1. By Source

1. 1. 1. Introduction
      1. Source By Value
    2. Hemp
      1. By Value
    3. Marijuana
      1. By Value

1. 1. By Type

1. 1. 1. Introduction
      1. Type By Value
    2. Oils
      1. By Value
    3. Creams & Moisturizers
      1. By Value
    4. Masks & Serums
      1. By Value
    5. Cleansers
      1. By Value
    6. Others
      1. By Value

1. Korea
2. Japan
3. India
4. Australia
5. Taiwan
6. South East Asia
7. Rest Of Asia-Pacific

MIDDLE EAST AND AFRICA MARKET ANALYSIS

1. Introduction
2. By Source

1. 1. Introduction

1. 1. 1. Source By Value

1. 1. Hemp

1. 1. 1. By Value

1. 1. Marijuana

1. 1. 1. By Value

1. By Type

1. 1. Introduction

1. 1. 1. Type By Value

1. 1. Oils

1. 1. 1. By Value

1. 1. Creams & Moisturizers

1. 1. 1. By Value

1. 1. Masks & Serums

1. 1. 1. By Value

1. 1. Cleansers

1. 1. 1. By Value

1. 1. Others

1. 1. 1. By Value

1. UAE

1. 1. By Source

1. 1. 1. Introduction
      1. Source By Value
    2. Hemp
      1. By Value
    3. Marijuana
      1. By Value

1. 1. By Type

1. 1. 1. Introduction
      1. Type By Value
    2. Oils
      1. By Value
    3. Creams & Moisturizers
      1. By Value
    4. Masks & Serums
      1. By Value
    5. Cleansers
      1. By Value
    6. Others
      1. By Value

1. Turkey
2. Saudi Arabia
3. South Africa
4. Egypt
5. Nigeria
6. Rest Of MEA

LATAM MARKET ANALYSIS

1. Introduction
2. By Source

1. 1. Introduction

1. 1. 1. Source By Value

1. 1. Hemp

1. 1. 1. By Value

1. 1. Marijuana

1. 1. 1. By Value

1. By Type

1. 1. Introduction

1. 1. 1. Type By Value

1. 1. Oils

1. 1. 1. By Value

1. 1. Creams & Moisturizers

1. 1. 1. By Value

1. 1. Masks & Serums

1. 1. 1. By Value

1. 1. Cleansers

1. 1. 1. By Value

1. 1. Others

1. 1. 1. By Value

1. Brazil

1. 1. By Source

1. 1. 1. Introduction
      1. Source By Value
    2. Hemp
      1. By Value
    3. Marijuana
      1. By Value

1. 1. By Type

1. 1. 1. Introduction
      1. Type By Value
    2. Oils
      1. By Value
    3. Creams & Moisturizers
      1. By Value
    4. Masks & Serums
      1. By Value
    5. Cleansers
      1. By Value
    6. Others
      1. By Value

1. Mexico
2. Argentina
3. Chile
4. Colombia
5. Rest Of LATAM

COMPETITIVE ASSESSMENT

1. CBD Skin Care Market Share By Manufacturers
2. CBD Skin Care Market Ranking By Revenue For Manufacturers
3. Competitive Dashboard
4. Product Mapping

MARKET PLAYERS ASSESSMENT

1. Kiehl’s LLC

1. 1. Overview
  2. Business Information
  3. Revenue
  4. ASP
  5. Gross Margin
  6. Swot Analysis
  7. Recent Developmments

1. Medical Marijuana
2. ENDOCA
3. Elixinol Global Ltd
4. Lord Jones
5. Icanic Brands Company, Inc.
6. LEEF Organics
7. The CBD Skincare Co
8. Kana Skincare
9. Apothecana
10. Josie Maran Cosmetics
11. FOLIUM BIOSCIENCES
12. CBD For Life
13. Pacific Roots LLC
14. Ecogen Labs

RESEARCH METHODOLOGY

1. Research Data

1. 1. Secondary Data

1. 1. 1. Major Secondary Sources
    2. Key Data From Secondary Sources

1. 1. Primary Data

1. 1. 1. Key Data From Primary Sources
    2. Breakdown Of Primaries

1. 1. Secondary And Primary Research

1. 1. 1. Key Industry Insights

1. Market Size Estimation

1. 1. Bottom-Up Approach
  2. Top-Down Approach
  3. Market Projection

1. Research Assumptions

1. 1. Assumptions

1. Limitations
2. Risk Assessment

APPENDIX

1. Discussion Guide
2. Customization Options
3. Related Reports

DISCLAIMER

Table of Content and Figure @ https://straitsresearch.com/report/cbd-skin-care-market/toc

News Media

Global CBD Skin Care Market Extends at a Healthy CAGR of 32.15%

Consumer Preference Drives the CBD Skin Care Products Market despite the Stringent Regulatory Landscape in Many Countries

Have a Look at the Related Research Report

Skincare Products Market: Information by Product Type (Facial Care, Lip Care, and Body Care), Category (Premium Skincare Products and Mass Skincare Products), and Region- Forecast till 2030

Skincare Body Products Market: Information by Gender (Male and Female), Product (Face Creams and Moisturizers), and Region — Forecast till 2030

Organic Skin Care Market: Information by Product (Face Cleanser, Face Serum), Distribution Channel (Online, Supermarket/Hypermarket), and Region — Forecast till 2030

Facial Skincare Products Market: Information by Product Type (Facial Cleanser, Toner, Facial Serum, Eye Creams), Distribution Channel (Specialty Stores), and Region — Forecast till 2030

About Straits Research Pvt. Ltd.

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Cannabis

Legal Cannabis Commercialization Bolsters Vacuum Oven Demand; Essential Role in Processing Extracts and Enhancing Safety Recognized

Published

4 days ago

September 20, 2023

GlobeNewswire

Dublin, Sept. 20, 2023 (GLOBE NEWSWIRE) — The “Vacuum Ovens Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028” report has been added to ResearchAndMarkets.com’s offering.

The global vacuum ovens market exhibited strong growth in 2022, reaching a total valuation of US$ 234.3 million. According to this report the market is poised for continued expansion, with expectations to reach US$ 343.2 million by 2028. This growth reflects a robust compound annual growth rate (CAGR) of 6.38% during the forecast period from 2023 to 2028.

Vacuum ovens, highly versatile equipment with applications in laboratory research, engineering, and industry, play a pivotal role in the heat treatment process. These ovens conduct heat treatment within an airtight vessel, allowing the creation of a vacuum within the chamber. This capability enables precise control over the heat treatment process and offers several advantages, including:

Prevention of surface reactions like oxidation or decarburization.
Removal of surface contaminants such as oxide films and residual traces of lubricants.
Introduction of substances to the surface layers of the work.
Removal of dissolved contaminating materials from metals through degassing.

The vacuum oven market’s growth is closely tied to the legalization of cannabis in many parts of the world and the subsequent commercialization of related products. Vacuum ovens play a crucial role for legal cannabis growers in processing cannabis extract BHOs (Butane Hash oil).

These ovens enable the production of purified oil extracts while reducing the risk of fires during the extraction process. Furthermore, vacuum ovens are used in the medical industry to eliminate potentially toxic chemicals from medical devices, including artificial heart valves, pacemakers, and joint implants. These ovens also find application in testing how devices respond to the high vacuum environment of space, making them valuable equipment for the aerospace industry.

Key Market Segmentation:

The global vacuum ovens market report by [Publisher Name] analyzes key trends within each sub-segment and provides forecasts at the global and regional levels for the period from 2023 to 2028. The market is segmented based on product type and application.

Product Type:

< 200
200-300
> 300

Application:

Home Appliances
Commercial Appliances

Regional Insights:

North America
Europe
Asia Pacific
Middle East and Africa
Latin America

Competitive Landscape:

The report offers a comprehensive analysis of the competitive landscape, featuring key players such as Cole-Parmer, Memmert GmbH+Co.KG, MTI Corporation, Sheldon Manufacturing Inc, Thermo Fisher Scientific, Accumax India, BINDER GmbH, Cascade TEK, ESPEC, Grieve, JEIO, SalvisLab Renggli, Shanghai Hasuc Instrument, Ted Pella, and Yamato Scientific.

This report provides in-depth insights into the global vacuum ovens market, covering macro overviews, micro details of industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter’s five forces analysis, value chain analysis, and more. It is a crucial resource for entrepreneurs, investors, researchers, consultants, business strategists, and anyone involved or planning to enter the vacuum ovens industry.

Key Questions Answered in This Report:

How has the global vacuum ovens market performed and what are the growth prospects in the coming years?
Which regions are the primary markets in the global vacuum ovens industry?
What impact has COVID-19 had on the global vacuum ovens industry?
How is the global vacuum ovens market segmented based on product type?
What are the applications driving the global vacuum ovens market?
What are the price trends for vacuum ovens?
What is the value chain structure of the global vacuum ovens market?
What are the key factors driving growth and challenges in the global vacuum ovens market?
Who are the major players in the global vacuum ovens market, and what is the competitive landscape like?
How are vacuum ovens manufactured?

Key Attributes:

Report Attribute	Details
No. of Pages	139
Forecast Period	2022 – 2028
Estimated Market Value (USD) in 2022	$254.3 Million
Forecasted Market Value (USD) by 2028	$343.2 Million
Compound Annual Growth Rate	5.1%
Regions Covered	Global

For more information about this report visit https://www.researchandmarkets.com/r/n83xum

About ResearchAndMarkets.com
ResearchAndMarkets.com is the world’s leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.

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