Refrigerant services company Hudson Technologies (NASDAQ: HDSN) will be reporting results this Wednesday afternoon. Here’s what investors should know.
Hudson Technologies beat analysts’ revenue expectations by 6% last quarter, reporting revenues of $55.34 million, down 15.2% year on year. It was an incredible quarter for the company, with a solid beat of analysts’ EPS estimates and an impressive beat of analysts’ EBITDA estimates.
Is Hudson Technologies a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting Hudson Technologies’s revenue to decline 4.8% year on year to $71.66 million, improving from the 16.8% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.15 per share.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Hudson Technologies has missed Wall Street’s revenue estimates five times over the last two years.
Looking at Hudson Technologies’s peers in the industrial distributors segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Richardson Electronics delivered year-on-year revenue growth of 9.5%, missing analysts’ expectations by 3.7%, and United Rentals reported revenues up 4.5%, topping estimates by 0.8%. Richardson Electronics traded up 10.9% following the results while United Rentals was also up 9.5%.
Read our full analysis of Richardson Electronics’s results here and United Rentals’s results here.
There has been positive sentiment among investors in the industrial distributors segment, with share prices up 6.5% on average over the last month. Hudson Technologies is up 7.1% during the same time and is heading into earnings with an average analyst price target of $7.69 (compared to the current share price of $8.70).
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