Solid Financial Performance
Hudson Technologies posted revenues of $72.8 million with a gross margin of 31%, despite a 3% decrease in revenue compared to last year due to lower sales volume and external factors like cooler spring weather.
Strong Reclamation Business
Continued strength in the reclamation business was noted as Hudson leveraged its enhanced refrigerant recovery capabilities and expanded its purchasing presence in the marketplace.
Positive Pricing Trends
Refrigerant pricing improved in the second quarter, showing a sequential increase for the first time in the past two cooling seasons, with HFC 410A pricing reaching $8 per pound.
Strong Cash Position
The company ended the quarter with $84.3 million in cash and no debt, reflecting a healthy unlevered balance sheet.
Industry Leadership and Regulatory Opportunities
Hudson is well-positioned to benefit from the federally mandated phasedown of HFCs and state-by-state initiatives, serving as a key supplier of next-generation refrigerants.