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Sep 30, 2024
Hudson Q3 2024 Earnings Report
Hudson Technologies reported third quarter results reflecting continued pricing pressure for certain refrigerants.
Key Takeaways
Hudson Technologies announced its Q3 2024 results, revealing that the company experienced continued pricing pressure for certain refrigerants throughout the cooling season. Despite near-term challenges, the company remains confident in its long-term growth strategy and the increasing demand for reclaimed refrigerants. They are adjusting the expectation for full year 2024 revenue to the low end of the previously provided guidance range, with a gross margin of approximately 28%.
Third quarter results reflected continued pricing pressure for certain refrigerants.
The company is confident in its long-term growth strategy to capitalize on the phasedown of HFC refrigerants.
The EPA recently finalized the Refrigerant Management rule, providing reclaim mandates for use in servicing certain sectors of the market beginning in 2029.
The company repurchased $2.6 million of common stock under its stock buyback plan.
Forward Guidance
Hudson Technologies anticipates full year 2024 revenue will be at the low end of the previously provided guidance range, with full year gross margin of approximately 28%.
Historical Earnings Impact
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