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Jun 30, 2021
Hudson Q2 2021 Earnings Report
Hudson reported record revenues driven by increased demand and favorable pricing trends.
Key Takeaways
Hudson Technologies reported a strong second quarter with a 27% increase in revenue compared to the same period last year. The company's performance was driven by increased demand and favorable pricing trends for refrigerants, leading to improved profitability.
Hudson Technologies reported revenues of $60.5 million, a 27% increase compared to Q2 2020.
Gross margin was 36% in Q2 2021, compared to 27% in Q2 2020, driven by increased selling prices.
Operating income was $14.4 million in Q2 2021, compared to $5.2 million in the prior year period.
Net income was $11.3 million, or $0.26 per basic share, in Q2 2021, compared to $2.4 million, or $0.06 per basic share, in Q2 2020.
Hudson
Hudson
Forward Guidance
Hudson anticipates the publication of HFC allocations in September and believes the upcoming HFC phasedown represents a tremendous long-term growth opportunity.
Positive Outlook
- Optimistic about the activity and interest for products in the marketplace.
- Looking forward to the anticipated publication of HFC allocations in September.
- Reclamation will be critical to maintaining necessary supply during the HFC phasedown period.
- Hudson is uniquely positioned as both a supplier and a reclaimer.
- The HFC phasedown represents a tremendous long-term growth opportunity.