Hudson Q4 2020 Earnings Report
Key Takeaways
Hudson Technologies reported Q4 2020 results with a decrease in revenue, an improved gross margin, and a reduced operating loss compared to the same period in 2019. The company reported a net loss of $4.7 million, or ($0.11) per basic and diluted share.
Q4 2020 revenue decreased by 14% to $22.1 million compared to $25.8 million in Q4 2019.
Gross margin in Q4 2020 was 25% compared to 19% in Q4 2019.
Operating loss in Q4 2020 was $1.7 million compared to an operating loss of $4.8 million in the prior year period.
Net loss in Q4 2020 was $4.7 million, or ($0.11) per basic and diluted share, compared to a net loss of $10.8 million in the same period of 2019.
Hudson
Hudson
Forward Guidance
Hudson Technologies is optimistic about the widespread closures related to the virus subsiding and enabling the broader re-opening of the economy. They are planning and preparing for the 2021 selling season to meet potential demand as more cooling systems return to operation.
Positive Outlook
- Widespread closures related to the virus will begin to subside.
- Broader re-opening of the economy is expected.
- Planning and preparing for the 2021 selling season.
- Ready to meet potential demand as more cooling systems return to operation.
- Looking forward to fully re-engaging with customers as they continue to come back online.