Welcome to our dedicated page for Hudson Technologies news (Ticker: HDSN), a resource for investors and traders seeking the latest updates and insights on Hudson Technologies stock.
Hudson Technologies Inc. (HDSN) is a leading American industrial products manufacturer known for its focus on refrigerants and their impact on chiller performance. The company offers a comprehensive range of services including refrigerant sales, reclamation services, on-site problem solving, and energy-saving assessments, ensuring systems operate at peak efficiency.
One of Hudson Technologies' standout offerings is its Platinum Reclamation Program, a one-stop-shop service for refrigerant recycling. This program has positioned Hudson Technologies as the largest reclamation company in the country. The company also sells refrigerants in various container sizes, from small 30-pound cylinders to large rail cars, catering to diverse customer needs.
Hudson Technologies is renowned for its on-site refrigerant services available nationwide, providing critical support in emergency situations. The company's proprietary Zugibeast system allows for rapid system decontamination at a customer's site, thus accelerating service delivery while saving time and money.
Additionally, Hudson Technologies offers a web-based real-time monitoring service for facility refrigeration and other energy systems, enhancing operational efficiency and reliability. Their commitment to innovation and customer service has made them an industry leader.
Recent achievements include expansions in service offerings and strategic partnerships to further solidify their market presence. Financially, Hudson Technologies continues to show strong performance, underscored by steady revenue growth and a robust market position.
Hudson Technologies (NASDAQ: HDSN) announced on December 13, 2022, that its partner AprilAire will exclusively use reclaimed refrigerants in its systems. This partnership, announced earlier in January 2022, aims to support sustainable air solutions. AprilAire is now an early adopter of the CARB Regulation Order for Certified Reclaimed Refrigerant Use Requirements, transitioning to 100% reclaimed refrigerant. Hudson's technology enhances environmental responsibility, reducing air pollution and waste while maximizing refrigerant value.
Hudson Technologies, Inc. (HDSN) reported strong third-quarter results for 2022, with revenues increasing by 48% to $89.5 million, driven by higher refrigerant prices. Gross margin rose to 49%, up from 39% in 2021, resulting in operating income of $36.3 million, compared to $16.9 million the previous year. Net income reached $29.4 million or $0.65 per share. For the first nine months, revenues surged 79% to $277.8 million, with a gross margin of 53%. The company anticipates further growth as HFC production declines under the AIM Act.
Hudson Technologies, Inc. (NASDAQ: HDSN) will present at the Baird 2022 Global Industrial Conference on November 9, 2022, at 7:55 am CT in Chicago. CEO Brian F. Coleman will lead the presentation and be available for one-on-one meetings throughout the day. Hudson is a major player in sustainable refrigerant solutions, boasting nearly three decades of industry experience. The company's advanced reclamation technology emphasizes commitment to both customers and environmental sustainability, providing services like refrigerant management and continuous monitoring systems.
Hudson Technologies, Inc. (NASDAQ: HDSN) will host a conference call and webcast on November 2, 2022, at 5:00 p.m. Eastern Time to discuss its third quarter 2022 results. Investors can access the live webcast on the Hudson Technologies website under “Investor Relations.” To participate by phone, dial (888) 506-0062 or (973) 528-0011 for international calls, using entry code: 836412. A replay will be available until December 2, 2022, at (877) 481-4010 for domestic calls and (919) 882-2331 for international calls, with conference ID: 46794.
Hudson Technologies (NASDAQ: HDSN) has appointed Nicole Bulgarino and Loan Mansy to its Board of Directors, following the resignations of Otto C. Morch and the passing of Dominic J. Monetta. Bulgarino, an experienced executive from Ameresco, brings over 25 years of energy infrastructure expertise, while Mansy, from Clean Harbors, has 30 years in sales and service within hazardous waste management. The new board members aim to enhance Hudson's strategic growth and offerings in sustainable refrigerant management, with a focus on leveraging their extensive backgrounds in business development and operational excellence.
Hudson Technologies (HDSN) announced support for the ratification of the Kigali Amendment to the Montreal Protocol, aimed at phasing down hydrofluorocarbons (HFCs) by 85% by 2047. This ratification opens opportunities for U.S. businesses, including Hudson, to leverage their expertise in addressing environmental impacts from HFCs. Hudson highlights its reclamation capabilities and plans to expand globally as demand for sustainable refrigerants rises. The AIM Act provides a compliance path that may enhance reclamation activities, further solidifying Hudson's leadership in sustainable refrigerant solutions.
Hudson Technologies reported significant second-quarter results for 2022, with revenues reaching $103.9 million, a 72% increase from the prior year. The gross margin improved to 55%, fueled by higher selling prices for refrigerants. Operating income surged to $49.8 million, while net income rose to $39.8 million, reflecting an $11.6 million non-cash tax benefit. The company increased its 2022 revenue forecast to over $290 million and set a long-term target of over $400 million in annualized revenue by 2025.
Hudson Technologies, Inc. (NASDAQ: HDSN) has partnered with Lennox International Inc. (NYSE: LII) to supply certified reclaimed refrigerants, aligning efforts to meet CARB Regulation Order requirements for AC equipment manufacturers. This exclusive supply agreement emphasizes sustainability and compliance with environmental regulations.
Brian F. Coleman, CEO of Hudson, highlighted the company's commitment to reclaiming refrigerants and reducing greenhouse gas emissions, while Lennox aims to support its customers by using sustainable cooling solutions.
Hudson Technologies (NASDAQ: HDSN) will conduct a conference call on August 3, 2022, at 5:00 p.m. ET to discuss its Q2 2022 results. Investors can join the live webcast on the company's website under the 'Investor Relations' section. For phone participation, dial (888) 506-0062 for domestic calls or (973) 528-0011 for international callers, using entry code 252053. A replay will be available until September 2, 2022. Hudson Technologies specializes in sustainable solutions for chiller plants and refrigeration systems, offering services that enhance efficiency and reduce environmental impact.
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