Hudson Tech Q2 revenue $90.5M (-13% YoY), EPS $0.41 vs $0.84; margins compress

HUDSON TECHNOLOGIES INC /NY

2023-Q2 EPS reported $0.73 revenue$167,673,000

Revenue $90.5M, down 13% YoY; gross margin 40% vs 55%.
Net income $19.2M ($0.41 diluted) vs $39.8M ($0.84) in Q2 2022.
Debt reduced to $32.5M from $46.8M at Dec. 2022; equity up to $211.5M.
CEO cites narrowed gap between sales and inventory prices as margins normalize.
EPA 40% HFC reduction starting 2024 seen as opportunity for reclamation.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

HUDSON TECHNOLOGIES INC /NY reported second quarter ended June 30, 2023 results: revenue $90.5 million, net income $19.2 million, EPS $0.42 per basic and $0.41 per diluted share.

Period: second quarter ended June 30, 2023
Revenue: $90.5 million
Net income: $19.2 million
EPS: $0.42 per basic and $0.41 per diluted share
Result: reported results

Exact text from the filing

For the quarter ended June 30, 2023, Hudson reported revenues of $90.5 million, a decrease of 13% compared to revenues of $103.9 million in the second quarter of 2022. The decrease is primarily related to decreased selling prices for certain refrigerants during the period as compared to the second quarter of 2022. Gross margin in the second quarter of 2023 was 40%, compared to 55% in the second quarter of 2022. Hudson reported operating income of $27.7 million in the second quarter of 2023, compared to operating income of $49.8 million in the prior year period. The Company recorded net income of $19.2 million or $0.42 per basic and $0.41 per diluted share in the second quarter of 2023, compared to net income of $39.8 million or $0.89 per basic and $0.84 diluted share in the same period of 2022.

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Source: SEC EDGAR

accession 0001104659-23-086805

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