Chart Industries Inc (NASDAQ:GTLS) Q4 2019 Earnings Conference Call - Final Transcript
Feb 13, 2020 • 09:30 am ET
Good morning, and welcome to Chart Industries, Inc. Fourth Quarter and Full Year 2019 Earnings Call. [Operator Instructions] After the speakers' remarks, there will be a question-and-answer session. The company's earning release and supplemental presentation was issued earlier this morning. If you have not received the earnings release, you may access it by visiting Chart's IR website at www.ir.chartindustries.com. A telephone replay of today's broadcast will be available following the conclusion of the call until Thursday, February 20, 2020. The replay dial-in information is included in the earnings release or on the company's IR website.
Before we begin, the company would like to remind you that statements made during this call that are not historical in fact are forward-looking statements. Please refer to the information regarding forward-looking statements and risk factors including in the company's earnings release and latest filings with the SEC. The company undertakes no obligation to update publicly or revise any forward-looking statements.
I would now like to turn the conference over to Jill Evanko, Chart Industries' CEO.
Jillian C. Evanko
Thank you, Justin. Good morning, everyone and thank you for joining us today to go through our current outlook for 2020 and 2019 results. Joining me today is John Bishop, our Chief Operating Officer and Scott Merkle, our Chief Accounting Officer. You will hear about the significant progress we have made in the past quarter, each aspect of the key drivers of our business for 2020 and the coming decade, as we walk through our supplemental presentation that was released this morning.
These themes are shown in the strategy circle shown on Slide 3, which you have seen both on last quarter's call, as well as at our Investor Day in November. Today, I'll start with our increased 2020 guidance, for which we have much higher conviction after the record order and backlog quarter to end 2019. As a reminder, we focus our guidance on the base business and provide color around what additional opportunities in particular Big LNG exist that are not in the base outlook.
Our revenue outlook is $1.645 billion to $1.71 billion compared to the prior revenue outlook of $1.615 billion to $1.68 billion. The increase is driven from the timing shifts of fourth quarter 2019 orders and revenue related to three of the four segments. We have not revised our E&C FinFans revenue outlook from the prior quarter. Both guides [Phonetic] are and were inclusive of $100 million of Calcasieu Pass related revenue. 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 shares outstanding. This is an increase from our prior outlook of $4.75 to $5.25 per share, which was on approximately 35.8 million weighted average shares outstanding.
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. Our capital expenditure outlook remains between