Hudson Technologies, Inc. (HDSN) Reports In-Line Q2 EPS

Hudson Technologies, Inc. (NASDAQ: HDSN) reported Q2 EPS of $0.08, in-line with the analyst estimate of $0.08. Revenue for the quarter came in at $28.6 million versus the consensus estimate of $23.98 million.

Kevin J. Zugibe, Chairman and Chief Executive Officer of Hudson Technologies commented, “We are very pleased to have built upon our strong first quarter performance to deliver record revenues, strong margins and significantly improved profitability in the second quarter. During the quarter we saw increased sales volume and benefitted from a continued higher average selling price for R-22 refrigerants, particularly compared to the weaker R-22 pricing we contended with last year. Likewise, our acquisitions have provided revenue contribution as a result of the expanded customer base and increased geographic reach.”

Mr. Zugibe continued, “We remain focused on expanding our reclamation capacity as we prepare for anticipated increased demand for reclaimed refrigerant as virgin production of R-22 is eliminated. With the end of R-22 production, reclamation will become the primary source of R-22 supply and we are intent on growing our position as the leading reclaimer in the marketplace. Additionally, there are indications that HFCs, the replacement refrigerants for R-22 and CFCs, will also be subject to restrictions on virgin production in response to concerns over their high global warming potential. The strategy that we have put in place for the R-22 phase out provides us with the opportunity to take advantage of the HFC phase out. We believe our industry relationships, established distribution network, and proprietary technology leave us well positioned to capitalize on the changing refrigerant marketplace.”

For earnings history and earnings-related data on Hudson Technologies, Inc. (HDSN) click here.

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