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Hudson (HDSN) Aids AprilAire's Shift to Reclaimed Refrigerant
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Hudson Technologies, Inc. (HDSN - Free Report) announced that its partner AprilAire fully transitioned to the exclusive use of reclaimed refrigerants in its refrigeration systems. In January, both companies announced the partnership, per which, HDSN would supply reclaimed refrigerant to AprilAire for use in its range of healthy indoor air quality solutions.
AprilAire is the first Hudson Original Equipment Manufacturer to incorporate the use of 100% reclaimed refrigerant in its products. It has set an example in the industry by meeting the requirements of the recently finalized California Air Resources Board (CARB) Regulation Order for Reclaimed Refrigerant Use for Manufacturers of AC Equipment. CARB calls for the use of at least 10% reclaimed refrigerant in equipments coming off the factory floor.
The Hudson Technologies and AprilAire partnership, with its focus on recovering, reclaiming and reusing refrigerants, will not only help cut down waste and air pollution but will also maximize the economic value of refrigerants.
Hudson Technologies, the industry-leading reclamation technology provider with a long-standing commitment to responsible, sustainable refrigerant management, has been working with AprilAire and other industry partners to facilitate their transition to create more environment-friendly products that operate using reclaimed refrigerant.
HDSN is expected to gain from the surge in demand for reclaimed refrigerants due to the phasedown of production and the consumption of Hydrofluorocarbons (HFCs) in the United States as mandated by the AIM Act. HFCs are potent greenhouse gases used in refrigerators, air conditioners and other applications.
A 10% stepdown instructed for 2022 and 2023, and a 40% baseline reduction in virgin production starting in 2024 have increased the industry’s reliance on reclaimed refrigerant to meet its HFC needs. Hudson Technologies has been the leader in refrigerant reclamation for nearly three decades and is well-poised to meet this demand.
Hudson Technologies’ third-quarter 2022 revenues improved 48% year over year to a record $89.5 million. This was mainly driven by increased selling prices for certain refrigerants. The company, meanwhile, has not witnessed a material appreciation in the cost of certain refrigerants sold. This led to a 65% surge in its earnings per share to 56 cents in the quarter.
Price Performance
Image Source: Zacks Investment Research
Hudson Technologies’ shares have gained 39.6% in the past three months compared with the industry’s 11.4% growth.
Some other top-ranked stocks in the Industrial Products sector are Applied Industrial Technologies (AIT - Free Report) , Tenaris (TS - Free Report) and W.W. Grainger (GWW - Free Report) . AIT flaunts a Zacks Rank #1, while TS and GWW carry a Zacks Rank #2 (Buy) at present.
Applied Industrial Technologies’ earnings surprise in the last four quarters was 24.7%, on average. In the past 60 days, its earnings estimates have increased 4.6% for 2022. For the ongoing year, the bottom line is estimated to be $7.52, suggesting growth of 14.3% from the previous year’s reported level. The AIT stock has appreciated 22% in the past three months.
Tenaris has an estimated year-over-year earnings growth rate of 131.5% for the current fiscal year. Its earnings per share estimates are pegged at $4.33. Estimates have been revised 5.1% north in the past 60 days. TS has an average trailing four-quarter earnings surprise of 20.9%. Its shares have appreciated 22% over the past three months.
W.W. Grainger delivered a trailing four-quarter earnings surprise of 10.1%, on average. GWW’s current-year earnings are estimated to be $29.31 per share at present, suggesting growth of 161.1% from the year-ago reported figure. Estimates moved up 4.4% in the last 60 days. GWW’s shares have risen 9% in the past three months.
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Hudson (HDSN) Aids AprilAire's Shift to Reclaimed Refrigerant
Hudson Technologies, Inc. (HDSN - Free Report) announced that its partner AprilAire fully transitioned to the exclusive use of reclaimed refrigerants in its refrigeration systems. In January, both companies announced the partnership, per which, HDSN would supply reclaimed refrigerant to AprilAire for use in its range of healthy indoor air quality solutions.
AprilAire is the first Hudson Original Equipment Manufacturer to incorporate the use of 100% reclaimed refrigerant in its products. It has set an example in the industry by meeting the requirements of the recently finalized California Air Resources Board (CARB) Regulation Order for Reclaimed Refrigerant Use for Manufacturers of AC Equipment. CARB calls for the use of at least 10% reclaimed refrigerant in equipments coming off the factory floor.
The Hudson Technologies and AprilAire partnership, with its focus on recovering, reclaiming and reusing refrigerants, will not only help cut down waste and air pollution but will also maximize the economic value of refrigerants.
Hudson Technologies, the industry-leading reclamation technology provider with a long-standing commitment to responsible, sustainable refrigerant management, has been working with AprilAire and other industry partners to facilitate their transition to create more environment-friendly products that operate using reclaimed refrigerant.
HDSN is expected to gain from the surge in demand for reclaimed refrigerants due to the phasedown of production and the consumption of Hydrofluorocarbons (HFCs) in the United States as mandated by the AIM Act. HFCs are potent greenhouse gases used in refrigerators, air conditioners and other applications.
A 10% stepdown instructed for 2022 and 2023, and a 40% baseline reduction in virgin production starting in 2024 have increased the industry’s reliance on reclaimed refrigerant to meet its HFC needs. Hudson Technologies has been the leader in refrigerant reclamation for nearly three decades and is well-poised to meet this demand.
Hudson Technologies’ third-quarter 2022 revenues improved 48% year over year to a record $89.5 million. This was mainly driven by increased selling prices for certain refrigerants. The company, meanwhile, has not witnessed a material appreciation in the cost of certain refrigerants sold. This led to a 65% surge in its earnings per share to 56 cents in the quarter.
Price Performance
Image Source: Zacks Investment Research
Hudson Technologies’ shares have gained 39.6% in the past three months compared with the industry’s 11.4% growth.
Zacks Rank & Other Stocks to Consider
Hudson Technologies currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Some other top-ranked stocks in the Industrial Products sector are Applied Industrial Technologies (AIT - Free Report) , Tenaris (TS - Free Report) and W.W. Grainger (GWW - Free Report) . AIT flaunts a Zacks Rank #1, while TS and GWW carry a Zacks Rank #2 (Buy) at present.
Applied Industrial Technologies’ earnings surprise in the last four quarters was 24.7%, on average. In the past 60 days, its earnings estimates have increased 4.6% for 2022. For the ongoing year, the bottom line is estimated to be $7.52, suggesting growth of 14.3% from the previous year’s reported level. The AIT stock has appreciated 22% in the past three months.
Tenaris has an estimated year-over-year earnings growth rate of 131.5% for the current fiscal year. Its earnings per share estimates are pegged at $4.33. Estimates have been revised 5.1% north in the past 60 days. TS has an average trailing four-quarter earnings surprise of 20.9%. Its shares have appreciated 22% over the past three months.
W.W. Grainger delivered a trailing four-quarter earnings surprise of 10.1%, on average. GWW’s current-year earnings are estimated to be $29.31 per share at present, suggesting growth of 161.1% from the year-ago reported figure. Estimates moved up 4.4% in the last 60 days. GWW’s shares have risen 9% in the past three months.