Hudson Technologies Reports Second Quarter 2025 Results
Hudson Technologies (NASDAQ: HDSN) reported its Q2 2025 financial results, posting revenue of $72.8 million, a 3% decrease from Q2 2024, with a gross margin of 31%. The company achieved net income of $10.2 million, or $0.23 per diluted share, up from $0.20 per diluted share in Q2 2024.
Despite a slow start to the cooling season due to mild temperatures, Hudson maintained strong operational performance, benefiting from increased refrigerant pricing and improved recovered refrigerant sourcing. The company ended Q2 with a robust financial position, reporting $84.3 million in cash and no debt.
For H1 2025, revenues decreased 9% to $128.2 million, with net income of $12.9 million or $0.28 per diluted share, compared to $0.40 per diluted share in H1 2024. The company remains strategically positioned to capitalize on the HFC phase-down transition and growth opportunities in the reclamation business.
Hudson Technologies (NASDAQ: HDSN) ha comunicato i risultati finanziari del secondo trimestre 2025, registrando ricavi per 72,8 milioni di dollari, con una diminuzione del 3% rispetto al secondo trimestre 2024, e un margine lordo del 31%. L'azienda ha realizzato un utile netto di 10,2 milioni di dollari, pari a 0,23 dollari per azione diluita, in aumento rispetto ai 0,20 dollari per azione diluita del secondo trimestre 2024.
Nonostante un avvio lento della stagione di raffreddamento dovuto a temperature miti, Hudson ha mantenuto una solida performance operativa, beneficiando dell'aumento dei prezzi dei refrigeranti e di un miglior approvvigionamento di refrigeranti recuperati. L'azienda ha chiuso il secondo trimestre con una posizione finanziaria solida, registrando 84,3 milioni di dollari in liquidità e nessun debito.
Per il primo semestre 2025, i ricavi sono diminuiti del 9% a 128,2 milioni di dollari, con un utile netto di 12,9 milioni di dollari o 0,28 dollari per azione diluita, rispetto a 0,40 dollari per azione diluita nel primo semestre 2024. L'azienda rimane strategicamente posizionata per sfruttare la transizione verso la riduzione degli HFC e le opportunità di crescita nel settore del recupero.
Hudson Technologies (NASDAQ: HDSN) informó sus resultados financieros del segundo trimestre de 2025, con ingresos de 72,8 millones de dólares, una disminución del 3% respecto al segundo trimestre de 2024, y un margen bruto del 31%. La compañía alcanzó un ingreso neto de 10,2 millones de dólares, o 0,23 dólares por acción diluida, frente a 0,20 dólares por acción diluida en el segundo trimestre de 2024.
A pesar de un inicio lento de la temporada de refrigeración debido a temperaturas suaves, Hudson mantuvo un sólido desempeño operativo, beneficiándose del aumento en los precios de los refrigerantes y de una mejor obtención de refrigerantes recuperados. La empresa cerró el segundo trimestre con una posición financiera fuerte, reportando 84,3 millones de dólares en efectivo y sin deuda.
Para el primer semestre de 2025, los ingresos disminuyeron un 9% hasta 128,2 millones de dólares, con un ingreso neto de 12,9 millones de dólares o 0,28 dólares por acción diluida, comparado con 0,40 dólares por acción diluida en el primer semestre de 2024. La compañía sigue estratégicamente posicionada para aprovechar la transición de reducción de HFC y las oportunidades de crecimiento en el negocio de recuperación.
허드슨 테크놀로지스(NASDAQ: HDSN)는 2025년 2분기 재무 실적을 발표하며 매출액 7280만 달러를 기록, 2024년 2분기 대비 3% 감소했고, 총이익률은 31%를 보였습니다. 회사는 1020만 달러의 순이익을 달성했으며, 희석 주당순이익은 0.23달러로 2024년 2분기의 0.20달러에서 증가했습니다.
온화한 기온으로 냉방 시즌이 다소 부진하게 시작됐음에도 불구하고 허드슨은 냉매 가격 상승과 회수 냉매 조달 개선으로 견고한 운영 실적을 유지했습니다. 회사는 2분기 말 현금 8430만 달러와 무부채 상태라는 강한 재무 상태를 보고했습니다.
2025년 상반기 매출은 9% 감소한 1억2820만 달러였으며, 순이익은 1290만 달러, 희석 주당순이익은 0.28달러로 2024년 상반기의 0.40달러에 비해 낮았습니다. 회사는 HFC 감축 전환과 회수 사업의 성장 기회를 전략적으로 잘 활용할 위치에 있습니다.
Hudson Technologies (NASDAQ : HDSN) a publié ses résultats financiers du deuxième trimestre 2025, affichant un chiffre d'affaires de 72,8 millions de dollars, soit une baisse de 3 % par rapport au deuxième trimestre 2024, avec une marge brute de 31%. La société a réalisé un bénéfice net de 10,2 millions de dollars, soit 0,23 dollar par action diluée, contre 0,20 dollar par action diluée au deuxième trimestre 2024.
Malgré un démarrage lent de la saison de climatisation en raison de températures clémentes, Hudson a maintenu une solide performance opérationnelle, bénéficiant de la hausse des prix des réfrigérants et d'une meilleure source de réfrigérants récupérés. La société a terminé le deuxième trimestre avec une situation financière robuste, déclarant 84,3 millions de dollars en liquidités et aucune dette.
Pour le premier semestre 2025, les revenus ont diminué de 9 % pour atteindre 128,2 millions de dollars, avec un bénéfice net de 12,9 millions de dollars, soit 0,28 dollar par action diluée, contre 0,40 dollar par action diluée au premier semestre 2024. La société reste stratégiquement positionnée pour tirer parti de la transition de la réduction des HFC et des opportunités de croissance dans le secteur de la récupération.
Hudson Technologies (NASDAQ: HDSN) meldete seine Finanzergebnisse für das zweite Quartal 2025 und erzielte einen Umsatz von 72,8 Millionen US-Dollar, was einem Rückgang von 3 % gegenüber dem zweiten Quartal 2024 entspricht, bei einer Bruttomarge von 31%. Das Unternehmen erreichte einen Nettoertrag von 10,2 Millionen US-Dollar bzw. 0,23 US-Dollar je verwässerter Aktie, gegenüber 0,20 US-Dollar je verwässerter Aktie im zweiten Quartal 2024.
Trotz eines langsamen Starts in die Kühlperiode aufgrund milder Temperaturen zeigte Hudson eine starke operative Leistung, profitierte von gestiegenen Kältemittelpreisen und einer verbesserten Beschaffung von zurückgewonnenen Kältemitteln. Das Unternehmen schloss das zweite Quartal mit einer soliden Finanzlage ab und meldete 84,3 Millionen US-Dollar in bar und keine Schulden.
Für das erste Halbjahr 2025 sanken die Umsätze um 9 % auf 128,2 Millionen US-Dollar, mit einem Nettogewinn von 12,9 Millionen US-Dollar oder 0,28 US-Dollar je verwässerter Aktie, verglichen mit 0,40 US-Dollar je verwässerter Aktie im ersten Halbjahr 2024. Das Unternehmen ist strategisch gut positioniert, um von der HFC-Reduktionsphase und Wachstumschancen im Rückgewinnungsgeschäft zu profitieren.
- Strong gross margin of 31% in Q2 2025, up from 30% in Q2 2024
- Solid cash position of $84.3 million with zero debt
- Net income per share increased to $0.23 from $0.20 year-over-year in Q2
- Strategic growth in national reclamation business following USA Refrigerants acquisition
- Well-positioned for long-term growth due to HFC phase-down transition
- Q2 2025 revenue declined 3% to $72.8 million year-over-year
- H1 2025 revenue decreased 9% to $128.2 million compared to H1 2024
- H1 2025 gross margin declined to 27% from 31% in H1 2024
- Operating income for H1 2025 decreased to $15.8 million from $25.6 million in H1 2024
- SG&A expenses increased in both Q2 and H1 2025
Insights
Hudson reports solid Q2 with improved margins despite revenue dip; strong balance sheet with $84.3M cash and zero debt positions company well.
Hudson Technologies delivered $72.8 million in Q2 revenue, slightly down
The bottom line shows encouraging momentum with net income reaching $10.2 million (
Hudson's balance sheet strength is particularly noteworthy. The company now holds
Looking at the six-month performance reveals some challenges, with revenue down
The company's strategic positioning around HFC phase-downs represents a significant long-term opportunity. As regulatory restrictions limit new HFC manufacturing, Hudson's reclamation capabilities should become increasingly valuable, creating a structural tailwind for their business model. The improved ability to source recovered refrigerants mentioned in the release suggests the company is making progress in strengthening this competitive advantage.
- Second quarter revenue of
$72.8 million ; Gross margin of31% - Net income of
$10.2 million or$0.23 per diluted share - Reports
$84.3 million in cash and no debt at June 30, 2025
WOODCLIFF LAKE, N.J., July 30, 2025 (GLOBE NEWSWIRE) -- Hudson Technologies, Inc. (NASDAQ: HDSN) announced results for the second quarter and six months ended June 30, 2025.
Brian F. Coleman, President and Chief Executive Officer of Hudson Technologies commented,
“We delivered a solid second quarter despite a slow start to our core selling season as temperatures in the Northeast and Midwest remained relatively mild through early June. As a result, we recorded a slight decrease in revenues compared to the second quarter of 2024. During the quarter, we posted gross margin of
“As we move through the balance of the cooling season, we remain focused on meeting the refrigerant and reclamation needs of our customer base. Our long-standing relationships have thrived based upon our ability to reliably provide our customers with the full range of the refrigerants they need, combined with their reciprocity in returning to us the recovered refrigerants that are integral to our supply chain.
“Hudson Technologies has consistently demonstrated the value of our capabilities and industry leadership during previously mandated industry wide transitions. With our national footprint and robust customer network and our commitment to support the transition to lower GWP technologies, we are positioned well as we progress through this third industry-wide phase-down. The current phase-down of HFCs represents a significant long-term growth opportunity for reclaimed HFCs, which will be increasingly necessary to meet demand throughout the useful lives of the existing installed base of HFC units as the supply of newly manufactured HFCs becomes increasingly limited.
“Finally, we further strengthened our unlevered balance sheet, ending the quarter with
Three Months Results
For the quarter ended June 30, 2025, Hudson reported:
- Revenues of
$72.8 million , a decrease of3% compared to revenues of$75.3 million in the comparable 2024 period. The revenue decline is related to decreased sales volume, offset by slightly increased pricing for certain refrigerants as compared to the second quarter of 2024. - Gross margin of
31% , compared to30% in the second quarter of 2024, primarily driven by slightly increased pricing as compared to the second quarter of 2024. - Selling, general and administrative expenses increased slightly to
$9.3 million compared to$9.0 million in the second quarter of 2024. - Operating income of
$12.7 million , compared to operating income of$12.8 million in the prior year period. - Net income of
$10.2 million or$0.23 per basic and diluted share in the second quarter of 2025, compared to net income of$9.6 million or$0.21 per basic and$0.20 per diluted share in the same period of 2024.
Six Month Results
For the six months ended June 30, 2025, Hudson reported:
- Revenues of
$128.2 million , a decrease of9% compared to revenues of$140.5 million for the first six months of 2024. Revenues declined primarily related to a slight decrease in sales volume during the first six months of 2025 as well as decreased selling prices for certain refrigerants as compared to the first six months of 2024. - Gross margin of
27% , compared to gross margin of31% in the first six months of 2024. - Selling, general and administrative expenses increased slightly to
$17.4 million compared to$17.0 million in the first six months of 2024. - Operating income of
$15.8 million compared to operating income of$25.6 million in the first half of 2024. - Net income of
$12.9 million or$0.29 per basic and$0.28 per diluted share, compared to net income of$19.1 million or$0.42 per basic and$0.40 per diluted share in the first six months of 2024.
At June 30, 2025 the Company reported
Conference Call Information
Hudson Technologies will host a conference call and webcast today, Wednesday, July 30, 2025 at 5:00 p.m. Eastern Time to discuss the Company’s second quarter 2025 results.
Please visit this link at least 5 minutes prior to the scheduled start time in order to register and receive dial-in and webcast details.
A replay of the teleconference will be available until August 29, 2025, and may be accessed by dialing (877) 481-4010. International callers may dial (919) 882-2331. Callers should use conference ID: 52624.
About Hudson Technologies
Hudson Technologies, Inc. is a leading provider of innovative and sustainable refrigerant products and services to the Heating Ventilation Air Conditioning and Refrigeration industry. For nearly three decades, we have demonstrated our commitment to our customers and the environment by becoming one of the first in the United States and largest refrigerant reclaimers through multimillion dollar investments in the plants and advanced separation technology required to recover a wide variety of refrigerants and restoring them to Air-Conditioning, Heating, and Refrigeration Institute standard for reuse as certified EMERALD Refrigerants™. The Company's products and services are primarily used in commercial air conditioning, industrial processing and refrigeration systems, and include refrigerant and industrial gas sales, refrigerant management services consisting primarily of reclamation of refrigerants and RefrigerantSide® Services performed at a customer's site, consisting of system decontamination to remove moisture, oils and other contaminants. The Company’s SmartEnergy OPS® service is a web-based real time continuous monitoring service applicable to a facility’s refrigeration systems and other energy systems. The Company’s Chiller Chemistry® and Chill Smart® services are also predictive and diagnostic service offerings. As a component of the Company’s products and services, the Company also generates carbon offset projects.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995
Statements contained herein which are not historical facts constitute forward-looking statements. Such forward-looking statements involve a number of known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, but are not limited to, changes in the laws and regulations affecting the industry, changes in the demand and price for refrigerants (including unfavorable market conditions adversely affecting the demand for, and the price of, refrigerants), the Company's ability to source refrigerants, regulatory and economic factors, seasonality, competition, litigation, the nature of supplier or customer arrangements that become available to the Company in the future, adverse weather conditions, possible technological obsolescence of existing products and services, possible reduction in the carrying value of long-lived assets, estimates of the useful life of its assets, potential environmental liability, customer concentration, the ability to obtain financing, the ability to meet financial covenants under its existing credit facility, any delays or interruptions in bringing products and services to market, the timely availability of any requisite permits and authorizations from governmental entities and third parties as well as factors relating to doing business outside the United States, including changes in the laws, regulations, policies, and political, financial and economic conditions, including inflation, interest and currency exchange rates, of countries in which the Company may seek to conduct business, the Company’s ability to successfully integrate any assets it acquires from third parties into its operations, and other risks detailed in the Company's 10-K for the year ended December 31, 2024 and other subsequent filings with the Securities and Exchange Commission. The words "believe", "expect", "anticipate", "may", "plan", "should" and similar expressions identify forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date the statement was made.
| Investor Relations Contact: John Nesbett/Jennifer Belodeau IMS Investor Relations (203) 972-9200 hudson@imsinvestorrelations.com | Company Contact: Brian F. Coleman, President & CEO Hudson Technologies, Inc. (845) 735-6000 bcoleman@hudsontech.com |
| Hudson Technologies, Inc. and Subsidiaries Consolidated Balance Sheets (Amounts in thousands, except for share and par value amounts) | |||||
| June 30, | December 31, | ||||
| 2025 | 2024 | ||||
| (unaudited) | |||||
| Assets | |||||
| Current assets: | |||||
| Cash and cash equivalents | $ | 84,293 | $ | 70,134 | |
| Trade accounts receivable – net | 35,883 | 13,629 | |||
| Inventories | 77,683 | 96,247 | |||
| Income tax receivable | 3,094 | 6,284 | |||
| Prepaid expenses and other current assets | 11,634 | 9,218 | |||
| Total current assets | 212,587 | 195,512 | |||
| Property, plant and equipment, less accumulated depreciation | 22,219 | 21,554 | |||
| Goodwill | 62,280 | 62,280 | |||
| Intangible assets, less accumulated amortization | 12,455 | 14,100 | |||
| Right of use asset | 5,960 | 6,878 | |||
| Other assets | 2,352 | 2,328 | |||
| Total Assets | $ | 317,853 | $ | 302,652 | |
| Liabilities and Stockholders’ Equity | |||||
| Current liabilities: | |||||
| Trade accounts payable | $ | 13,181 | $ | 8,692 | |
| Accrued expenses and other current liabilities | 37,940 | 33,813 | |||
| Accrued payroll | 2,083 | 3,704 | |||
| Other short-term liabilities | 1,600 | 1,600 | |||
| Total current liabilities | 54,804 | 47,809 | |||
| Deferred tax liability | 4,331 | 4,076 | |||
| Long-term lease liabilities | 3,939 | 4,917 | |||
| Total Liabilities | 63,074 | 56,802 | |||
| Commitments and contingencies | |||||
| Stockholders’ equity: | |||||
| Preferred stock, shares authorized 5,000,000: Series A Convertible preferred stock, | — | — | |||
| Common stock, | 437 | 443 | |||
| Additional paid-in capital | 106,801 | 110,792 | |||
| Retained earnings | 147,541 | 134,615 | |||
| Total Stockholders’ Equity | 254,779 | 245,850 | |||
| Total Liabilities and Stockholders’ Equity | $ | 317,853 | $ | 302,652 | |
| Hudson Technologies, Inc. and Subsidiaries Consolidated Statements of Income (unaudited) (Amounts in thousands, except for share and per share amounts) | |||||||||||||
| Three months | Six months | ||||||||||||
| ended June 30, | ended June 30, | ||||||||||||
| 2025 | 2024 | 2025 | 2024 | ||||||||||
| Revenues | $ | 72,849 | $ | 75,282 | $ | 128,192 | $ | 140,532 | |||||
| Cost of sales | 50,038 | 52,711 | 93,313 | 96,540 | |||||||||
| Gross profit | 22,811 | 22,571 | 34,879 | 43,992 | |||||||||
| Operating expenses: | |||||||||||||
| Selling, general and administrative | 9,265 | 9,013 | 17,435 | 16,960 | |||||||||
| Amortization | 822 | 760 | 1,645 | 1,458 | |||||||||
| Total operating expenses | 10,087 | 9,773 | 19,080 | 18,418 | |||||||||
| Operating income | 12,724 | 12,798 | 15,799 | 25,574 | |||||||||
| Interest (income) expense | (651 | ) | 152 | (1,227 | ) | 366 | |||||||
| Income before income taxes | 13,375 | 12,646 | 17,026 | 25,208 | |||||||||
| Income tax expense | 3,207 | 3,061 | 4,100 | 6,061 | |||||||||
| Net income | $ | 10,168 | $ | 9,585 | $ | 12,926 | $ | 19,147 | |||||
| Net income per common share – Basic | $ | 0.23 | $ | 0.21 | $ | 0.29 | $ | 0.42 | |||||
| Net income per common share – Diluted | $ | 0.23 | $ | 0.20 | $ | 0.28 | $ | 0.40 | |||||
| Weighted average number of shares outstanding – Basic | 43,631,187 | 45,513,445 | 43,843,302 | 45,511,434 | |||||||||
| Weighted average number of shares outstanding – Diluted | 45,157,911 | 47,275,901 | 45,390,662 | 47,377,534 | |||||||||
| Hudson Technologies, Inc. and Subsidiaries Consolidated Statements of Cash Flows (unaudited) (Amounts in thousands) | |||||||
| Six months | |||||||
| ended June 30, | |||||||
| 2025 | 2024 | ||||||
| Cash flows from operating activities: | |||||||
| Net income | $ | 12,926 | $ | 19,147 | |||
| Adjustments to reconcile net income to cash provided by operating activities: | |||||||
| Depreciation | 1,502 | 1,564 | |||||
| Amortization of intangible assets | 1,645 | 1,458 | |||||
| Impairment of long lived assets | — | 441 | |||||
| Lower of cost or net realizable value inventory adjustment | 512 | 1,983 | |||||
| Allowance for credit losses | (120 | ) | 44 | ||||
| Share based compensation | 538 | 751 | |||||
| Amortization of deferred finance costs | 113 | 114 | |||||
| Deferred tax expense (benefit) | 255 | (380 | ) | ||||
| Changes in assets and liabilities: | |||||||
| Trade accounts receivable | (22,134 | ) | (2,565 | ) | |||
| Inventories | 18,052 | 33,811 | |||||
| Prepaid and other assets | (2,553 | ) | (2,776 | ) | |||
| Lease obligations | (1 | ) | (2 | ) | |||
| Income taxes receivable | 3,190 | 2,887 | |||||
| Accounts payable and accrued expenses | 6,644 | (15,642 | ) | ||||
| Cash provided by operating activities | 20,569 | 40,835 | |||||
| Cash flows from investing activities: | |||||||
| Payments for acquisition | — | (20,670 | ) | ||||
| Additions to property, plant, and equipment | (1,875 | ) | (2,085 | ) | |||
| Cash used in investing activities | (1,875 | ) | (22,755 | ) | |||
| Cash flows from financing activities: | |||||||
| Proceeds from issuance of common stock | — | 1 | |||||
| Excess tax benefits from exercise of stock options | — | (3 | ) | ||||
| Repurchase of common shares | (4,535 | ) | — | ||||
| Cash used in financing activities | (4,535 | ) | (2 | ) | |||
| Increase in cash and cash equivalents | 14,159 | 18,078 | |||||
| Cash and cash equivalents at beginning of period | 70,134 | 12,446 | |||||
| Cash and cash equivalents at end of period | $ | 84,293 | $ | 30,524 | |||
| Supplemental disclosure of cash flow information: | |||||||
| Cash paid for interest | $ | 256 | $ | 311 | |||
| Cash paid for income taxes – net | $ | 655 | $ | 3,554 | |||
| Property and equipment included in accrued expenses and other current liabilities | $ | 905 | $ | — | |||
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