HUDSON TECHNOLOGIES INC /NY

Hudson Technologies was re-awarded its previously disputed DLA contract on August 4, 2026, securing a term through August 2031 with a five-year extension option. For the second quarter of 2026, the company reported a 7.5% increase in revenues to $78.3 million, but net income decreased by 51.3% to $4.9 million. Diluted EPS for the quarter was $0.12, down from $0.23 in the prior year.

Hudson Technologies announced it has been re-awarded an Indefinite Delivery Indefinite Quantity (IDIQ) contract by the United States Defense Logistics Agency (DLA). The contract is valued at $210 million, with an initial term extending through August 4, 2031, and a five-year option for extension. This re-award follows a previous dispute and rescission of the contract in January 2026 due to an unsuccessful bidder's protest, which led to a re-bid process.

Hudson Technologies reported second quarter 2026 results with revenue of $78.3 million, an 8% increase year-over-year, driven by strong volume growth. However, net income decreased to $4.9 million, resulting in diluted EPS of $0.12, down from $0.23 in the prior-year period, primarily due to lower refrigerant market pricing and increased operating costs. The company announced a partnership with Icorium for advanced separation technology and confirmed its Illinois facility operations were fully restored after tornado damage. Due to continued subdued refrigerant market pricing and inflationary pressures, Hudson Technologies revised its full-year 2026 gross margin guidance to low-to-mid-twenty percent.

Hudson Technologies' primary refrigerant reclamation facility in Champaign, Illinois, sustained extensive roof, structural, and water damage from strong storms and tornadoes on June 11, 2026. The company has activated its emergency response, secured the site, and initiated the insurance claim process. Operations will be diverted to its Smyrna, Georgia facility and other locations while damages to infrastructure, equipment, and inventory are assessed. No injuries or loss of life were reported.

Hudson Technologies received a bridge modification from the U.S. Defense Logistics Agency (DLA), extending its existing agreement from July 29, 2026, to November 29, 2026. The modification also includes two additional three-month options, potentially extending the contract until May 29, 2027. This extension allows Hudson Technologies to continue providing services while the DLA completes a rebidding process, which was initiated after a bid protest challenged the company's successful retention of the contract in October 2025.

Hudson Technologies announced it received a bridge modification from the United States Defense Logistics Agency (DLA), extending its existing agreement from July 29, 2026, to November 29, 2026. This extension includes options for two additional three-month periods, potentially through May 29, 2027. The modification was necessary because a bid protest challenged the DLA's evaluation methodology for the 2025 DLA Contract, leading to its rescission pending a review and rebid process. Hudson Technologies will continue to provide uninterrupted service to the DLA during this period, maintaining its over 10-year relationship.

Hudson Technologies, Inc. announced that its subsidiaries, Hudson Technologies Company and Hudson Holdings, Inc., entered into a Fifth Amendment to their Amended and Restated Credit Agreement with Wells Fargo Bank. This amendment, effective May 19, 2026, increases the letter of credit sublimit under the existing credit facility from $1.5 million to $2.5 million. The remaining terms of the credit facility are unchanged.

Hudson Technologies announced that all members of its board of directors and certain senior management members have increased their positions in the company's common stock through open market purchases. CEO Ken Gaglione stated these purchases reflect confidence in the business's strength, future opportunities, and strategy to drive sustainable growth and shareholder value, particularly in capitalizing on regulatory-driven HFC scarcity. Lead Independent Director Rich Parrillo reiterated the board's commitment to aligning with shareholders and confidence in the management team's execution of the business plan.

Hudson Technologies reported a significant decrease in net income for Q1 2026, falling to $0.33 million from $2.76 million in Q1 2025, despite a revenue increase to $60.15 million. Operating income also declined substantially. The company experienced negative cash flow from operations and a significant decrease in cash and cash equivalents. Additionally, a competitor's bid protest led to the rescission of the 2025 DLA Contract award, though Hudson will continue under its existing contract through July 2026.

Hudson Technologies reported Q1 2026 results with revenue increasing 9% to $60.2 million, driven by sales volume and slightly higher HFC pricing. However, net income significantly decreased to $0.3 million from $2.8 million in the prior year, primarily due to a lower gross margin (20% vs. 22%), increased SG&A expenses related to ERP optimization, and non-recurring tax items. The company also announced strategic progress including management team enhancements, the successful launch of a new ERP system, and a licensing agreement with Solstice Advanced Materials for HFO refrigerant reclamation. Hudson provided a Q2 2026 revenue outlook of $73-$76 million.