Hudson Technologies Q2 revenue beats estimates

Overview

• Hudson Q2 revenue of $72.8 mln beats analyst expectations, per LSEG data

• The company which provides refrigerant solutions reports gross margin of 31%

• Hudson ends Q2 with $84.3 mln in cash, no debt

Outlook

• Hudson sees growth opportunity in reclaimed HFCs amid phase-down

• Company focuses on organic growth and strategic acquisitions

Result Drivers

• MILD TEMPERATURES - Slow start to selling season due to mild temperatures in Northeast and Midwest, affecting sales volume

• REFRIGERANT PRICING - Increased pricing for certain refrigerants contributed to gross margin improvement

• RECLAMATION BUSINESS - Growth in national reclamation business attributed to strategic acquisition of USA Refrigerants

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 2 "strong buy" or "buy", 2 "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the electrical components & equipment peer group is "buy"

• Wall Street's median 12-month price target for Hudson Technologies Inc is $8.50, about 0.9% below its July 29 closing price of $8.58

• The stock recently traded at 17 times the next 12-month earnings vs. a P/E of 14 three months ago

Press Release: ID:nGNX4d1RS3