Refrigerant services company Hudson Technologies (NASDAQ:HDSN) will be reporting earnings tomorrow afternoon. Here’s what investors should know.
Hudson Technologies missed analysts’ revenue expectations by 8.7% last quarter, reporting revenues of $34.64 million, down 22.8% year on year. It was a slower quarter for the company, with a significant miss of analysts’ EPS 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 19.9% year on year to $52.23 million, a further deceleration from the 15.5% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.01 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 missed Wall Street’s revenue estimates six times over the last two years.
Looking at Hudson Technologies’s peers in the specialty equipment distributors segment, some have already reported their Q1 results, giving us a hint as to what we can expect. SiteOne delivered year-on-year revenue growth of 3.8%, beating analysts’ expectations by 0.6%, and United Rentals reported revenues up 6.7%, topping estimates by 2.5%. SiteOne traded up 2.6% following the results while United Rentals was also up 10.1%.
Read our full analysis of SiteOne’s results here and United Rentals’s results here.
There has been positive sentiment among investors in the specialty equipment distributors segment, with share prices up 12.3% on average over the last month. Hudson Technologies is up 24.9% during the same time and is heading into earnings with an average analyst price target of $6.56 (compared to the current share price of $6.68).
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