Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.

What: Shares of Chart Industries, (NASDAQ:GTLS) fell as much as 13% today after reporting earnings, but settled back to a 4% loss later in the day.

So what: First-quarter revenue fell 2.7% to $266.2 million -- well short of analyst expectations of $300.4 million. On the bottom line, net income fell 23% to $12.0 million, or $0.41 per share on an adjusted basis, which was way short of the $0.66 expectation.  

To make matters worse, management lowered its earnings guidance range for the full year by $0.10 to $3.00-$3.40 per share.

Now what: Weakness in the biomedical respiratory business and delays in liquefied natural gas projects were blamed for the shortfall, and there's validity to those arguments. The full-year results show that revenue and earnings will be back-loaded, indicating that these projects will just be delayed, not eliminated. I think this dip presents a long-term buying opportunity for a company in growth markets, despite its disappointing quarter.

Travis Hoium has no position in any stocks mentioned. The Motley Fool recommends Chart Industries. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.