08:40 AM EST, 12/11/2024 (MT Newswires) -- Chart Industries ( GTLS ) said Wednesday its board has authorized a share repurchase program of up to $250 million.

The company said it was reiterating its financial policy of "no share repurchases or material cash acquisitions until we are below 2.5 net leverage." As of Sept. 30, the net leverage ratio was 3.04, the company said.

Chief Executive Jill Evanko said the buyback program "reflects our confidence in our business going forward" and that she expects the company to reduce its debt to $3 billion by the end of 2025.

Chart Industries' ( GTLS ) shares were 0.8% higher in premarket trading.