Solid Financial Performance
Hudson Technologies reported second quarter revenues of $72.8 million and a gross margin of 31%, slightly higher than last year's 30%. Net income was $10.2 million or $0.23 per diluted share, compared to $9.6 million or $0.20 per diluted share in the previous year.
Refrigerant Pricing Improvement
Refrigerant pricing improved in the second quarter, showing a sequential increase for the first time in the past two cooling seasons. HFC pricing reached $8 per pound, favorably impacting gross margin performance.
Strong Cash Position
The company ended the quarter with $84.3 million in cash and no debt, reflecting an unlevered balance sheet and a strong liquidity position.
Continued Growth in Reclamation Business
Hudson Technologies saw continued strength in its reclamation business, leveraging enhanced refrigerant recovery capabilities and expanding its purchasing presence.