Core Viewpoint - Hudson Technologies, Inc. has appointed Kenneth Gaglione as Chairman of the Board, President, and CEO, effective November 24, 2025, aiming to leverage his extensive experience for the company's growth in the HVAC sector [1][4]. Company Leadership - Kenneth Gaglione has a strong background in the refrigerants and specialty chemicals industries, having previously served as Vice President of Operations at Hudson Technologies from 2020 to 2023, where he led strategic production initiatives and improved supply chain capabilities [2][4]. - Gaglione's prior experience includes a role as Global Marketing Director at Honeywell International, overseeing aftermarket distribution and strategic planning for refrigerant product lines [3]. Strategic Focus - Under Gaglione's leadership, Hudson Technologies plans to emphasize organic growth within the HVAC sector while pursuing inorganic opportunities through strategic alliances and partnerships [4]. - The company aims to expand its position as a leading provider of innovative and sustainable refrigerant solutions [4]. Company Overview - Hudson Technologies is a prominent provider of sustainable refrigerant products and services, with nearly three decades of commitment to environmental standards and customer service [5]. - The company is recognized as one of the largest refrigerant reclaimers in the U.S., investing significantly in advanced separation technology for refrigerant recovery [5]. - Hudson's offerings include refrigerant and industrial gas sales, refrigerant management services, and web-based monitoring services for refrigeration systems [5].

Core Insights - Toll Brothers, Inc. announces the final opportunity for home shoppers to purchase new homes at Lakemont by Toll Brothers in Hudson, Massachusetts, with only three quick move-in homes remaining available for sale in this exclusive community [1][5] Company Overview - Toll Brothers, Inc. is the nation's leading builder of luxury homes, founded in 1967 and became public in 1986, listed on the NYSE under the symbol "TOL" [10] - The company operates in over 60 markets across 24 states and the District of Columbia, serving various buyer segments including first-time, move-up, and active-adult buyers [10] - Toll Brothers has been recognized as one of Fortune magazine's World's Most Admired Companies for over 10 years and has received multiple accolades including Builder of the Year [11] Product Offering - Lakemont by Toll Brothers features luxury homes priced from $1.48 million, offering 4 to 5 bedrooms, 5 baths, and sizes ranging from 3,406 to 3,977 square feet [2] - The final homes include open-concept living levels, home offices, serene primary bedroom suites, and finished basements on select homes, with availability for move-in as early as spring 2026 [2][5] Location and Community Features - The Lakemont community is located less than two miles from downtown Hudson, providing access to local shopping, restaurants, and recreational activities at Lake Boon and Assabet River Rail Trail [3]

Core Insights - The article emphasizes the importance of thorough research and understanding of businesses before making investment decisions [1][2]. Group 1 - The author holds a Master's in Accounting and has experience as a small business owner, focusing on identifying great businesses for investment [1]. - The author has been investing in the stock market for three years with a long-term investment strategy [1]. - The author aims to provide valuable insights for investors by conducting extensive research on investment ideas [1]. Group 2 - The author has a beneficial long position in HDSN shares, indicating a personal investment interest [2]. - The article expresses the author's personal opinions and is not influenced by compensation from any company mentioned [2]. - There is no business relationship between the author and any company whose stock is discussed in the article [2].

Core Insights - The article emphasizes the importance of thorough research and understanding of businesses before making investment decisions [1][2][3] Group 1: Company Analysis - The author has a long position in HDSN, indicating confidence in the company's future performance [2] - The focus is on identifying and developing deep knowledge of great businesses, which suggests a strategy centered on quality investments [1] Group 2: Investment Philosophy - The author dedicates significant time to learning about investing and finance, highlighting a commitment to informed decision-making [1] - The approach is long-term, indicating a preference for sustainable growth over short-term gains [1]

Core Insights - Hudson Technologies Inc. (HDSN) is well-positioned in the refrigerant supply chain, focusing on reclaiming used refrigerants and selling them to wholesalers and end-users [1] Company Overview - HDSN operates in the refrigerant supply chain, emphasizing the reclamation of used refrigerants [1] - The company targets both wholesalers and end-users for its products [1] Investment Perspective - The company is considered a suitable fit for Berkshire's investment portfolio due to its strategic positioning and potential for sustained profitability [1] - The focus on strong margins, stable and expanding free cash flow, and high returns on invested capital is highlighted as a reliable driver of returns [1]

Financial Performance - Revenues for Q3 2025 reached $74,012,000, a 19.5% increase from $61,943,000 in Q3 2024[10] - Gross profit for Q3 2025 was $23,674,000, compared to $15,942,000 in Q3 2024, reflecting a 48.8% increase[10] - Net income for the three months ended September 30, 2025, was $12.374 million, up 58.5% from $7.806 million in 2024[60] - Operating income for Q3 2025 was $13,968,000, significantly higher than $6,973,000 in Q3 2024, representing a 100.4% increase[10] - Revenues for the nine-month period ended September 30, 2025, were $202.2 million, consistent with $202.5 million reported in the comparable 2024 period, with a 3% increase in sales volume offset by a 3% decline in selling prices[142] - Gross profit for the nine-month period ended September 30, 2025, was $58.6 million, with a gross margin of 29%, down from $59.9 million and 30% in the same period of 2024[143] Assets and Liabilities - Total current assets increased to $234,359,000 as of September 30, 2025, up from $195,512,000 at the end of 2024[8] - Total liabilities rose to $73,057,000 as of September 30, 2025, compared to $56,802,000 at the end of 2024[8] - Cash and cash equivalents at the end of Q3 2025 were $89,681,000, compared to $70,134,000 at the end of 2024, marking a 27.9% increase[8] - The company's inventory as of September 30, 2025, was valued at $97.414 million, an increase from $96.247 million as of December 31, 2024[79] - Trade receivables at September 30, 2025, were $25.4 million, an increase of $11.8 million from $13.6 million at December 31, 2024[151] Cash Flow and Operating Activities - Cash provided by operating activities for the nine months ended September 30, 2025, was $29,381,000, down from $71,103,000 in the same period of 2024[17] - Net cash provided by operating activities for the nine-month period ended September 30, 2025, was $29.4 million, compared to $71.1 million for the comparable 2024 period[152] Share Repurchase and Acquisitions - The Company completed the acquisition of USA Refrigerants and B&B Jobber Services for approximately $20.7 million in cash, with a potential contingent payment of up to $2.0 million[24] - The Company incurred $5,820,000 in share repurchases during the nine months ended September 30, 2025[17] - During the nine-month period ended September 30, 2025, the Company repurchased 939,259 shares for a total of $5.8 million at an average price of $6.20 per share[122] - The acquisition resulted in the recognition of $14.5 million of goodwill, with $12.9 million being tax-deductible[119] Debt and Financing - The Company has borrowing availability of approximately $40 million from the Amended Wells Fargo Facility as of September 30, 2025, with no outstanding balance[114] - The Amended Wells Fargo Facility requires the Company to maintain minimum liquidity of at least $5 million, with at least $3 million from availability[108] - The Amended Wells Fargo Facility has a maturity date of March 2, 2027, unless terminated sooner due to an event of default[167] Market and Regulatory Environment - The AIM Act mandates a cumulative 40% reduction in HFC production and consumption from baseline levels for the years 2024 through 2029[28] - The Company is exposed to market risks from fluctuations in the demand, price, and availability of refrigerants, which could materially affect revenue[177] Tax and Accounting - The company assesses uncertain tax positions and believes it had no uncertain tax positions as of September 30, 2025[59] - The company is currently evaluating the impact of new accounting standards, including ASU 2023-09 and ASU 2024-03, on its consolidated financial statements[71][72] Stock Options and Compensation - The intrinsic value of options outstanding at September 30, 2025, was $16.8 million, compared to $8.6 million at December 31, 2024[100] - Share-based compensation expense for the nine-month periods ended September 30, 2025, and 2024 was $0.6 million and $0.8 million, respectively[92]

Core Insights - The article discusses the importance of enabling Javascript and cookies in browsers to ensure proper functionality and access to content [1] Group 1 - The article emphasizes that users may be blocked from proceeding if an ad-blocker is enabled [1]

Core Insights - Hudson Technologies (HDSN) reported quarterly earnings of $0.27 per share, exceeding the Zacks Consensus Estimate of $0.21 per share, and up from $0.17 per share a year ago, representing an earnings surprise of +28.57% [1] - The company posted revenues of $74.01 million for the quarter ended September 2025, which was 1.32% below the Zacks Consensus Estimate, but an increase from $61.94 million year-over-year [2] - Hudson Tech shares have appreciated approximately 52.2% year-to-date, significantly outperforming the S&P 500's gain of 15.1% [3] Earnings Outlook - The future performance of Hudson Tech's stock will largely depend on management's commentary during the earnings call and the company's earnings outlook [4] - The current consensus EPS estimate for the upcoming quarter is -$0.03 on revenues of $39.49 million, while for the current fiscal year, the estimate is $0.47 on revenues of $241.4 million [7] Industry Context - The Industrial Services industry, to which Hudson Tech belongs, is currently ranked in the bottom 26% of over 250 Zacks industries, indicating potential challenges ahead [8] - Empirical research suggests a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can be tracked by investors [5]

Financial Data and Key Metrics Changes - Hudson Technologies reported a 20% increase in revenue for Q3 2025, reaching $74 million, driven by increased sales volume and higher average sales prices of refrigerants [6][18] - Gross margin improved to 32%, reflecting a 630 basis point increase compared to Q3 2024, with gross profit rising to $23.7 million from $15.9 million [6][18] - Net income increased by 59% to $12.4 million, or $0.27 per share, compared to $7.8 million, or $0.17 per share in the previous year [6][19] Business Line Data and Key Metrics Changes - The growth in revenue was attributed to both increased sales volume and higher average sales prices, particularly in the refrigerant market [6][18] - Hudson's reclamation business saw positive growth, reflecting the company's outreach efforts to encourage the return of used refrigerants [6][11] Market Data and Key Metrics Changes - The HFC market pricing was approximately $8 per pound in Q3, with R-410A representing about 70% of total aftermarket demand for HFCs [6][7] - The EPA reported a 19% growth in refrigerant reclamation activity for the industry in 2024, with Hudson's reclamation growing at a similar rate [6][9] Company Strategy and Development Direction - The company is focused on advancing its growth strategy through both organic and inorganic opportunities, with an emphasis on acquiring a CEO with experience in larger companies and acquisitions [6][4][32] - Hudson aims to capitalize on the ongoing phase-down of HFC refrigerants, viewing it as a significant long-term growth opportunity [6][12] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to navigate the current market dynamics, despite the anticipated supply-demand imbalance extending to 2029 [6][12][32] - The company is closely monitoring EPA proposals that may impact the refrigerant market and is positioned to benefit from state-level initiatives promoting lower GWP refrigerants [6][13][14] Other Important Information - Hudson was awarded a renewal contract valued at $210 million with the U.S. Defense Logistics Agency, reinforcing its position as a prime contractor since 2016 [6][8] - The company ended the quarter with $90 million in cash and a focus on opportunistic share repurchases, having repurchased $1.3 million of stock in Q3 2025 [6][19] Q&A Session Summary Question: What alternative skill sets are being sought in the new CEO? - Management is looking for a candidate with a larger company background, experience in acquisitions, and skills in organic growth beyond just refrigerant reclamation [6][24][32] Question: What are the expectations for HFC pricing next year? - Management expects HFC pricing to remain consistent with this year, despite market volatility [6][28] Question: How does the EPA data impact Hudson's strategy? - Management acknowledges the need to reduce exposure to gas market fluctuations and plans to pursue both organic growth and M&A opportunities [6][32] Question: What is the expected revenue from the DLA contract? - The revenue from the DLA contract is expected to be consistent with previous levels, around $30 million to $35 million [6][33] Question: Will A2Ls become a core part of the business? - A2Ls are expected to grow in importance as the market transitions, alongside the continued demand for existing HFCs [6][35]

Financial Results - Hudson Technologies, Inc. reported its financial results for Q3 2025, with specific details provided in the press release issued on November 3, 2025[5] - The press release containing the financial results is furnished as Exhibit 99.1, which includes detailed performance metrics[9] Management Changes - The company announced a management change, with Brian F. Coleman stepping down as Chairman, President, and CEO, effective immediately[6]