Hudson Technologies Inc - HDSN STOCK NEWS

Hudson Technologies (NASDAQ: HDSN) announced an increase to its share repurchase program, allowing the company to purchase up to $20 million in common stock shares. The program allows for up to $10 million in share repurchases during each of calendar years 2024 and 2025, doubling the previously announced authorization. Purchases may be made through open market repurchases, private negotiations, or Rule 10b5-1 trading plans. The timing and volume will depend on factors including stock price, trading volume, and market conditions. The program can be modified or discontinued at any time.

Hudson Technologies (NASDAQ: HDSN) has announced it will host a conference call and webcast on Monday, November 4, 2024, at 5:00 p.m. Eastern Time to discuss the Company's third quarter 2024 results. Interested parties are required to register in advance for the call. The registration link will be available until 4:30 p.m. Eastern Time on the day of the call, providing dial-in and webcast details upon completion. This event offers an opportunity for investors and analysts to gain insights into Hudson Technologies' financial performance and business outlook for the third quarter of 2024.

Hudson Technologies commented on the EPA's Final Rule under the American Innovation and Manufacturing Act, which establishes the Emissions Reduction and Reclamation Program. The rule aims to reduce emissions of climate-damaging HFCs from air conditioning and refrigeration systems and maximize HFC reclamation. Key provisions include:

• Leak repair for certain appliances
• Automatic leak detection systems
• Standards for reclaimed HFC refrigerants
• Mandatory use of reclaimed HFCs for servicing certain equipment
• Recovery of HFCs from disposable cylinders
• Recordkeeping, reporting, and labeling requirements

Hudson's CEO, Brian F. Coleman, expressed support for the rule, highlighting its potential to promote reclamation growth and reduce leak rates. The company sees this as an opportunity to advance environmentally and economically beneficial refrigerant emission control practices.

Hudson Technologies (NASDAQ: HDSN) partnered with RMI to release a report on the impact of R-410A refrigerant reclamation in the US residential HVAC sector. The study reveals that reclaiming R-410A can reduce lifecycle greenhouse gas emissions by up to 70% compared to producing virgin refrigerant. Key findings include:

1. Maximizing refrigerant reclamation can avoid 7.7 metric tons of CO2 emissions by 2045, equivalent to removing 1.8 million cars from the road for a year.

2. Refrigerant recovery is important for a successful circular economy and supports achieving the full economic life of installed equipment.

3. The EPA's Technology Transition Rule will prohibit R-410A manufacturing for new residential equipment starting in 2025, promoting the transition to lower-GWP refrigerants.

Hudson Technologies (NASDAQ: HDSN) will host a panel discussion titled 'Reclaiming the Future-Capitalizing on Emissions Reduction Opportunities in Refrigerant Management' during Climate Week NYC 2024 on September 23, 2024. The event, held at the NASDAQ MarketSite, will focus on a Rocky Mountain Institute (RMI) report about the climate impacts of refrigerant reclamation.

Expert panelists will discuss how the US can reduce greenhouse gas emissions from the refrigerant sector by promoting the recovery and reclamation of R-410A from residential equipment. The panel will also address how reclamation initiatives can reduce building emissions cost-effectively.

As a leading refrigerant reclaimer, Hudson Technologies aims to drive the transition to more sustainable cooling and refrigeration practices. The event highlights the importance of effective refrigerant management in combating climate change.

Hudson Technologies (NASDAQ: HDSN) has announced a collaboration with LG Air Conditioning Technologies USA to supply EMERALD Refrigerants™ to LG's customer base. This partnership aims to promote sustainable refrigerant management practices and support the industry's transition to reclaimed refrigerants. Hudson's certified reclaimed refrigerants offer lower environmental impact and GWP levels compared to virgin refrigerants while maintaining equivalent performance.

The collaboration combines Hudson's expertise in refrigerant recovery, reclamation, and redistribution with LG's extensive customer network. It will help LG's customers meet new California refrigerant-related regulations and reinforce LG's commitment to delivering eco-conscious solutions. This partnership aligns with both companies' goals of reducing carbon emissions and promoting cleaner energy solutions in the HVAC industry.

Hudson Technologies (NASDAQ: HDSN) reported Q2 2024 results with revenues of $75.3 million, down 17% from $90.5 million in Q2 2023. The decrease was primarily due to lower refrigerant prices and reduced DLA contract revenue. Gross margin decreased to 30% from 41% in Q2 2023. Net income was $9.6 million ($0.21 per basic share), compared to $19.2 million ($0.42 per basic share) in Q2 2023.

For H1 2024, revenues were $140.5 million, down 16% from $167.7 million in H1 2023. Net income was $19.1 million ($0.42 per basic share), compared to $34.7 million ($0.77 per basic share) in H1 2023. The company anticipates full-year 2024 revenue of $240-250 million with a gross margin of approximately 30%.

Hudson's board authorized a $10 million share repurchase program for 2024 and 2025.

Hudson Technologies (NASDAQ: HDSN) has appointed Brian J. Bertaux as its new Chief Financial Officer, effective immediately. Bertaux, a seasoned finance executive, replaces Nat Krishnamurti. With 20 years of experience at Trex, where he contributed to significant revenue growth and market cap expansion, Bertaux brings valuable expertise to Hudson. His background includes roles as interim President at Trex Commercial Products and Senior Director of Finance and Strategy.

Bertaux's recent positions include VP of Finance at vonDrehle and CFO at Brown Haven Homes. He holds a B.S. in Finance and Accounting, an MBA, and is both a CPA and CTP. Hudson's CEO, Brian F. Coleman, expressed confidence in Bertaux's ability to contribute to the company's expansion in the cooling and reclamation industry.

Hudson Technologies (NASDAQ: HDSN) has announced a conference call and webcast to discuss its second quarter 2024 results. The event is scheduled for Tuesday, August 6, 2024, at 5:00 p.m. Eastern Time. Interested parties can access the live webcast through the company's website at www.hudsontech.com under the 'Events' section. For those participating via phone, the dial-in number is (877) 545-0523 for domestic callers and (973) 528-0016 for international callers, with the entry code 384150. A replay of the teleconference will be available until September 5, 2024, accessible by dialing (877) 481-4010 (US) or (919) 882-2331 (international) with conference ID 50910.