commodities | Earnings News | On the Move

Hudson Tech +22% on Q2 beat, $220M purchase of industrial gases supplier

|About: Hudson Technologies, Inc. (HDSN)|By:, SA News Editor

Hudson Technologies (NASDAQ:HDSN) +22.5% AH after beating analyst expectations for Q2 earnings and revenues, which rose 51% Y/Y to a company record $52.2M.

Q2 gross margin was 33% compared to 30% in the prior-year period, benefitting from incremental increases in the average selling price for R-22 refrigerant as well as a temporary increase in pricing for HFC refrigerants, and gross margin for H1 rose to 33% from 29% in the first six months of 2016.

HDSN also agrees to acquire Airgas subsidiary Airgas-Refrigerants Inc., a leading U.S. supplier of industrial gases, for ~$220M.

Subscribe for full text news in your inbox