Refrigerant services company Hudson Technologies (NASDAQ: HDSN) will be reporting earnings this Wednesday after market close. Here’s what investors should know.
Hudson Technologies beat analysts’ revenue expectations by 1.7% last quarter, reporting revenues of $72.85 million, down 3.2% year on year. It was a stunning quarter for the company, with a 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 for active Edge members.
This quarter, analysts are expecting Hudson Technologies’s revenue to grow 16.5% year on year to $72.15 million, a reversal from the 19% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.21 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Hudson Technologies has a history of exceeding Wall Street’s expectations, beating revenue estimates every single time since going public by 3.8% on average.
Looking at Hudson Technologies’s peers in the specialty equipment distributors segment, some have already reported their Q3 results, giving us a hint as to what we can expect. Richardson Electronics delivered year-on-year revenue growth of 1.6%, beating analysts’ expectations by 6%, and SiteOne reported revenues up 4.1%, in line with consensus estimates. Richardson Electronics traded up 11.4% following the results while SiteOne was also up 5.1%.
Read our full analysis of Richardson Electronics’s results here and SiteOne’s results here.
Investors in the specialty equipment distributors segment have had steady hands going into earnings, with share prices flat over the last month. Hudson Technologies is down 1.9% during the same time and is heading into earnings with an average analyst price target of $10.25 (compared to the current share price of $9.06).
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