Hudson Technologies Inc. Files Q1 2024 10-Q Report

TL;DR

<b>Hudson Technologies Inc. filed its Q1 2024 10-Q report on May 8, 2024.</b>

AI Summary

HUDSON TECHNOLOGIES INC /NY (HDSN) filed a Quarterly Report (10-Q) with the SEC on May 8, 2024. Filed a 10-Q report for the period ending March 31, 2024. Report covers the first quarter of fiscal year 2024. Company was formerly known as Refrigerant Reclamation Industries Inc. Incorporated in New York. Primary business address is One Blue Hill Plaza, Pearl River, NY.

Why It Matters

For investors and stakeholders tracking HUDSON TECHNOLOGIES INC /NY, this filing contains several important signals. This filing provides an update on the company's financial performance and position for the first quarter of 2024. It allows investors and analysts to assess the company's operational status and compare it to previous periods.

Risk Assessment

Risk Level: low — HUDSON TECHNOLOGIES INC /NY shows low risk based on this filing. The filing is a standard quarterly report (10-Q) and does not contain any immediately apparent unusual or high-risk disclosures.

Analyst Insight

Review the detailed financial statements and management discussion within the 10-Q to understand the company's performance drivers and outlook.

Key Numbers

• 2024-03-31 — Period End Date (Conformed Period of Report)
• 2024-05-08 — Filing Date (Filed As Of Date)
• 1231 — Fiscal Year End (Fiscal Year End)

Key Players & Entities

• HUDSON TECHNOLOGIES INC /NY (company) — Filer
• REFRIGERANT RECLAMATION INDUSTRIES INC (company) — Former company name
• 2024-03-31 (date) — Conformed period of report
• 2024-05-08 (date) — Filed as of date
• PEARL RIVER (location) — Business address city
• NY (location) — Business address state
• 0000925528 (company) — Central Index Key
• 001-13412 (company) — SEC file number

FAQ

Industry Context

Hudson Technologies operates in the wholesale machinery, equipment, and supplies sector, specifically focusing on refrigerant services.

Regulatory Implications

The filing is made under the Securities Exchange Act of 1934, requiring public companies to submit regular financial disclosures.

What Investors Should Do

1. Analyze the financial statements for revenue, net income, and cash flow for Q1 2024.
2. Review any Management's Discussion and Analysis (MD&A) section for insights into operational performance and future outlook.
3. Compare key financial metrics to the same period in the prior year (Q1 2023) to identify trends.

Key Dates

• 2024-03-31: Quarterly Period End — End of the reporting period for the 10-Q filing.
• 2024-05-08: Filing Date — Date the 10-Q report was officially submitted to the SEC.

Glossary

10-Q

A quarterly report required by the U.S. Securities and Exchange Commission (SEC). (Provides a comprehensive update on the company's financial performance and condition during the quarter.)

Year-Over-Year Comparison

This is the Q1 2024 10-Q filing, providing an update from the previous fiscal year-end report.

Key Financial Figures

• $0.01 — nge on which registered Common stock, $0.01 par value HDSN NASDAQ Capital Marke

Filing Documents

• hdsn-20240331x10q.htm (10-Q) — 972KB
• hdsn-20240331xex31d1.htm (EX-31.1) — 12KB
• hdsn-20240331xex31d2.htm (EX-31.2) — 12KB
• hdsn-20240331xex32d1.htm (EX-32.1) — 6KB
• hdsn-20240331xex32d2.htm (EX-32.2) — 6KB
• 0001410578-24-000637.txt (&nbsp;) — 5151KB
• hdsn-20240331.xsd (EX-101.SCH) — 36KB
• hdsn-20240331_cal.xml (EX-101.CAL) — 43KB
• hdsn-20240331_def.xml (EX-101.DEF) — 134KB
• hdsn-20240331_lab.xml (EX-101.LAB) — 310KB
• hdsn-20240331_pre.xml (EX-101.PRE) — 245KB
• hdsn-20240331x10q_htm.xml (XML) — 896KB

Signatures

Signatures 28 2 Table of Contents

– FINANCIAL INFORMATION

PART I – FINANCIAL INFORMATION

- Financial Statements

Item 1 - Financial Statements Hudson Technologies, Inc. and Subsidiaries Consolidated Balance Sheets (Amounts in thousands, except for share and par value amounts) March 31, December 31, 2024 2023 (unaudited) Assets Current assets: Cash and cash equivalents $ 10,551 $ 12,446 Trade accounts receivable – net 35,936 25,169 Inventories 147,759 154,450 Income tax receivable 1,687 5,438 Prepaid expenses and other current assets 7,551 7,492 Total current assets 203,484 204,995 Property, plant and equipment, less accumulated depreciation 19,467 19,375 Goodwill 47,803 47,803 Intangible assets, less accumulated amortization 14,072 14,771 Right of use asset 6,176 6,591 Other assets 3,161 3,137 Total Assets $ 294,163 $ 296,672 Liabilities and Stockholders' Equity Current liabilities: Trade accounts payable $ 13,741 $ 23,399 Accrued expenses and other current liabilities 31,428 31,537 Accrued payroll 2,189 3,615 Total current liabilities 47,358 58,551 Deferred tax liability 3,705 4,558 Long-term lease liabilities 4,489 4,790 Total Liabilities 55,552 67,899 Commitments and contingencies Stockholders' equity: Preferred stock, shares authorized 5,000,000 : Series A Convertible preferred stock, $ 0.01 par value ($ 100 liquidation preference value); shares authorized 150,000 ; none issued or outstanding — — Common stock, $ 0.01 par value; shares authorized 100,000,000 ; issued and outstanding: 45,510,925 and 45,502,380 , respectively 455 455 Additional paid-in capital 118,367 118,091 Retained earnings 119,789 110,227 Total Stockholders' Equity 238,611 228,773 Total Liabilities and Stockholders' Equity $ 294,163 $ 296,672 See Accompanying Notes to the Consolidated Financial Statements. 3 Table of Contents Hudson Technologies, Inc. and Subsidiaries Consolidated Statements of Income (unaudited) (Amounts in thousa

Business

Business Hudson Technologies, Inc. ("Hudson" or the "Company"), incorporated under the laws of New York on January 11, 1991, is a refrigerant services company providing innovative solutions to recurring problems within the refrigeration industry. Hudson has proven, reliable programs that meet customer refrigerant needs by providing environmentally sustainable solutions from initial sale of refrigerant gas through recovery, reclamation and reuse, peak operating performance of equipment through energy efficiency and emergency air conditioning and refrigeration system repair, to final refrigerant disposal and carbon credit trading. The Company's operations consist of one reportable segment. The Company's products and services are primarily used in commercial air conditioning, industrial processing and refrigeration systems, and include refrigerant and industrial gas sales, refrigerant management services consisting primarily of reclamation of refrigerants and RefrigerantSide Services performed at a customer's site. RefrigerantSide Services consist of system decontamination to remove moisture, oils and other contaminants intended to restore systems to designed capacity. As a component of the Company's products and services, the Company also participates in the generation of carbon offset projects. The Company operates principally through its wholly-owned subsidiary, Hudson Technologies Company. Unless the context requires otherwise, references to the "Company", "Hudson", "we", "us", "our", or similar pronouns refer to Hudson Technologies, Inc. and its subsidiaries. In preparing the accompanying consolidated financial statements, and in accordance with Accounting Standards Codification ("ASC") 855-10 "Subsequent Events", the Company's management has evaluated subsequent events through the date that the financial statements were filed. The accompanying unaudited consolidated financial statements have been prepared in accordance with generally accepted accounting princ

View Full Filing

View this 10-Q filing on SEC EDGAR