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Hudson Technologies Inc. provides refrigerant products and services for the heating, ventilation, air conditioning and refrigeration industry. Company news commonly covers refrigerant sales volumes, HFC pricing, recovery and reclamation activity, and the transition toward lower-GWP refrigerants used in commercial air conditioning, industrial processing and refrigeration systems.
Recurring developments include quarterly operating results, share repurchase activity, completed business acquisitions, customer or government contract updates, and licensing arrangements for reclaimed refrigerant resale, including HFO blends such as R-448A and R-449A. Governance and leadership updates also appear in connection with board composition and senior operating roles.
Hudson Technologies, Inc. (NASDAQ: HDSN) has appointed Brian F. Coleman as Chairman, President, and CEO, following the passing of former CEO Kevin J. Zugibe. Coleman has been with the company since 1997 and previously served as President and COO since 2001. Hudson Technologies specializes in optimizing commercial and industrial chiller plants and refrigeration systems, offering services aimed at increasing efficiency and reducing emissions. The company also provides cloud-based monitoring solutions and traditional refrigerant reclamation services.
Hudson Technologies, Inc. (NASDAQ: HDSN) announced the unexpected passing of its CEO and Chairman, Kevin J. Zugibe. His profound impact on the company is acknowledged, and the Board of Directors has appointed Brian Coleman as the new CEO. Coleman, the current President and COO, is expected to uphold Zugibe's legacy. Hudson Technologies specializes in sustainable solutions for refrigeration systems, emphasizing efficiency, cost savings, and environmental impact reduction. The company’s services include proprietary refrigerant management and cloud-based monitoring solutions.
Hudson Technologies reported Q1 2020 revenues of $36.4 million, reflecting a 5% increase from $34.7 million in Q1 2019, driven by higher refrigerant sales volume. The gross margin improved to 23%, up from 20% year-over-year. Operating income rose to $0.4 million compared to $0.2 million in the prior year. The net loss narrowed to $2.9 million or ($0.07) per share, from a loss of $4.0 million or ($0.09) per share in Q1 2019. Hudson maintains a strong liquidity position with approximately $27 million as of March 31, 2020, despite concerns about potential demand declines due to COVID-19.
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