The sharp revenue and earnings decline versus both prior year and consensus, driven by lower HFC pricing and volume, signals continued headwinds in the refrigerant market. Monitor Q4 results and any updates to full-year guidance for signs of pricing stabilization or further deterioration.
Price Chart
Executive Summary
Hudson Technologies reported Q3 2026 revenue of $59.4M (down 20% YoY from $74.0M) and GAAP diluted EPS of $0.05 (down from $0.27), both sharply below consensus of $78.0M and $0.10. The miss was driven by a 9% decline in sales volume and a 17% decline in selling prices amid soft HFC market pricing. The company maintained its full-year gross margin target of low-to-mid-twenty percent and highlighted a re-awarded DLA contract valued at $210 million and a joint development agreement for next-generation separation technology.
Key Financial Metrics
Key Facts
- Q3 2026 revenue of $59.4M vs $74.0M in Q3 2025, a 20% decline
- GAAP diluted EPS of $0.05 vs $0.27 in Q3 2025
- Revenue miss vs consensus of $78.0M; EPS miss vs consensus of $0.10
- Sales volume declined 9% and selling prices declined 17% year-over-year
- Gross margin fell to 25% from 32% in Q3 2025
- Net income of $2.0M vs $12.4M in Q3 2025
- Nine-month revenue of $197.9M vs $202.2M in the prior year period
- Nine-month net income of $7.3M vs $25.3M in the prior year period
- Company maintains full-year 2026 gross margin guidance of low-to-mid-twenty percent
- Re-awarded DLA contract valued at $210 million
- Entered into a joint development agreement with Icorium for advanced separation technology
- Debt-free with $35.3 million in cash at September 30, 2026
- Operating cash flow for nine months 2026 was $4.3M vs $29.4M in the prior year period
Financial Impact
Revenue declined 20% YoY to $59.4M; EPS declined 81% YoY to $0.05; net income fell 84% to $2.0M
Risk Factors
- Continued softness in HFC market pricing and demand
- Adequate refrigerant inventories compressing sales activity
- Increased SG&A costs from ERP optimization and strategic investments
- Lower gross margin due to pricing pressure and higher operating costs
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001104659-26-119627 |
| Document: tm2628306d1_8k.htm | 0001104659-26-119627 |
| Document: 0001104659-26-119627-index-headers.html | 0001104659-26-119627 |
| Document: 0001104659-26-119627-index.html | 0001104659-26-119627 |
| Document: 0001104659-26-119627.txt | 0001104659-26-119627 |
| 8-K Data (Synthetic) | 0001104659-26-119627 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 28, 2026 1d ago | 8-K | No price | awaiting T+5 | awaiting T+5 | No price |
Oct 28, 2026 1d ago | Press Release | $5.06 | awaiting T+5 | awaiting T+5 | $4.42 (+12.65%) |
Sep 28, 2026 4w ago | Insider Buy | $5.15 $5.31 | ▲ +3.11% | ▲ +1.16% | $4.42 (−14.17%) |
Sep 23, 2026 5w ago | Insider Buy | $5.23 $5.25 | ▲ +0.38% | ▲ +0.80% | $4.42 (−15.49%) |
Sep 18, 2026 5w ago | Insider Buy | $5.19 $5.10 | ▼ −1.73% | ▼ −0.71% | $4.42 (−14.84%) |
Sep 17, 2026 6w ago | Press Release | $5.17 $5.16 | ▼ −0.19% | ▼ −1.46% | $4.42 (−14.51%) |
Aug 26, 2026 9w ago | Insider Buy | $5.48 $5.25 | ▼ −4.20% | ▼ −4.47% | $4.42 (−19.34%) |
Jul 31, 2026 12w ago | Insider Buy | $6.23 $5.70 | ▼ −8.51% | ▼ −10.53% | $4.42 (−29.05%) |
Jul 22, 2026 14w ago | Insider Buy | $6.33 $5.80 | ▼ −8.37% | ▼ −8.85% | $4.42 (−30.17%) |
Jul 8, 2026 16w ago | Insider Buy | $6.41 $6.31 | ▼ −1.56% | ▼ −1.43% | $4.42 (−31.05%) |
US Market Status
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