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 (HDSN) announced the EPA's final rule for HFC allowances, establishing a phasedown framework for the production and consumption of virgin HFCs under the AIM Act. The plan involves a 10% reduction in baseline HFC levels by 2022, with a cumulative 40% reduction mandated by 2024. CEO Brian F. Coleman emphasizes the positive impact on greenhouse gas emissions and the growth potential for reclamation services, as Hudson currently holds a 35% market share in refrigerant reclamation. These developments position Hudson favorably to address supply shortages as HFC production declines over the coming years.
Hudson Technologies reported strong results for Q2 2021, with revenues of $60.5 million, a 27% increase from Q2 2020's $47.7 million. The revenue growth was attributed to rising demand and increased selling prices for refrigerants. Gross margin improved to 36% from 27% year-over-year. Operating income surged to $14.4 million, and net income rose to $11.3 million or $0.26 per share. For the six months ending June 30, 2021, revenues reached $94.3 million, up 12% from $84.0 million in 2020. The company anticipates further growth driven by upcoming HFC phasedown regulations.
Hudson Technologies, Inc. (NASDAQ: HDSN) will hold a conference call and webcast on August 4, 2021, at 5:00 p.m. ET to discuss its second quarter results. Interested participants can access the live webcast on the Hudson Technologies website under “Investor Relations.” For phone participation, call (888) 506-0062 or (973) 528-0011 for international callers, using entry code: 685058. A replay will be available until September 3, 2021, accessible at (877) 481-4010. Hudson Technologies specializes in innovative solutions for industrial refrigeration and chiller efficiency.
Hudson Technologies, Inc. (NASDAQ: HDSN) has secured a five-year contract renewal with the United States Defense Logistics Agency (DLA) to supply refrigerants and compressed gases, potentially generating $400 million in sales over a total 10-year period. This renewal extends their original contract from July 2016 and reflects Hudson's strong performance as a strategic supply partner for the Department of Defense. CEO Brian F. Coleman highlighted the company's exceptional ratings in performance metrics as a key factor in securing this renewal.
Hudson Technologies, Inc. (NASDAQ: HDSN) announced its inclusion in the Russell Microcap Index effective June 28, 2021. Membership validates Hudson's market position in the refrigerant industry and is expected to enhance investor awareness and shareholder value. The Russell indexes are critical benchmarks for $10.6 trillion in assets. Hudson Technologies provides sustainable solutions for optimizing industrial chiller plants and refrigeration systems, ensuring performance, energy savings, and reduced environmental impact.
Hudson Technologies, Inc. (NASDAQ: HDSN) will participate in the 18th Annual Craig-Hallum Institutional Investor Conference on June 2, 2021. CEO Brian F. Coleman and CFO Nat Krishnamurti will be available for one-on-one and small group meetings from 8:00 a.m. to 6:00 p.m. ET. Hudson Technologies specializes in innovative solutions for optimizing commercial and industrial chiller plants and refrigeration systems, offering services that enhance efficiency and reduce greenhouse gas emissions. For more details, visit www.hudsontech.com.
Hudson Technologies reported Q1 2021 revenues of $33.8 million, a 7% decline from $36.4 million in Q1 2020, driven by reduced volume due to COVID-19. Gross margin improved to 27% from 23% year-over-year, benefiting from higher selling prices. Operating income rose to $1.7 million, up from $0.4 million a year prior. However, the company recorded a net loss of $1.1 million ($0.02 per share), a decrease from $2.9 million in 2020. Hudson emphasized the potential for demand recovery with economic reopening and outlined opportunities tied to the AIM Act.
Hudson Technologies (NASDAQ: HDSN) will host a conference call and webcast on May 5, 2021, at 5:00 p.m. ET to discuss its first-quarter results. Investors can access the live webcast on the company's website. For phone participation, call (888) 506-0062 for domestic or (973) 528-0011 for international attendees. A replay will be available until June 4, 2021, using conference ID: 41031. Hudson Technologies provides solutions for optimizing performance and reliability in refrigeration systems, with services designed to enhance efficiency and reduce emissions.
Hudson Technologies, Inc. (NASDAQ: HDSN) announced participation in the ROTH Virtual Conference on March 15 & 16, 2021. CEO Brian F. Coleman and CFO Nat Krishnamurti will be available for meetings from 9:00 a.m. to 6:00 p.m. ET on both days. Hudson Technologies specializes in sustainable solutions for chiller plants and refrigeration systems, offering services that boost efficiency and reduce emissions. Their proprietary RefrigerantSide® Services and SMARTenergy OPS® software enhance operational reliability and performance. More information can be found on their website.
Hudson Technologies, Inc. (NASDAQ: HDSN) reported its fourth-quarter and full-year 2020 results, revealing Q4 revenues of $22.1 million, down 14% from $25.8 million in Q4 2019. This decline was attributed to COVID-19 related impacts on demand for refrigerants. However, gross margin improved to 25% from 19% year-over-year due to increased selling prices. The company recorded an operating loss of $1.7 million in Q4 2020, an improvement from a $4.8 million loss in Q4 2019. For the entire year, revenues decreased 9% to $147.6 million, but operating income rose to $5.9 million from a $15.8 million loss in 2019.
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