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Hudson Technologies (HDSN) earnings and revenue breakdown
Latest: Q3 2026 · 10-Q filed Nov 5, 2026 · Hudson Technologies (HDSN) Q3 2026 earnings results →
Q3 2026 Revenue down 20% year over year to $59.4M · 3¢ of every $1 of revenue kept as net profit · operating margin 5.5%
Hudson Technologies made $59.4M in Q3 2026 (-20% Y/Y): Product $57.5M, Refrigerant Side Services $1.9M. Operating margin 5.5%, net earnings $2.0M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Nov 5, 2026.
Drawing the Sankey…
Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF
What changed this quarter
Revenue was $59.4M in Q3 2026, down 20% year over year and down 24% from the previous quarter. Product was the largest line at 97% of revenue. Product lost $14.5M year over year (down 20%), 100% of the total change.
Gross margin was 24.9%, down 7.1 points from Q3 2025. Operating profit was $3.3M, a 5.5% margin (down 13.4 points year over year). Operating expenses grew 19% against a revenue fall of 20%. The fastest-growing cost line was SG&A (+22%). Net earnings were $2.0M, down 84% year over year. The effective tax rate was 36.6%.
Operating cash flow was $10.1M (up 15% year over year), 497% of net earnings. Non-cash charges added back $866K of depreciation and amortization and $232K of share-based compensation. Working capital and other items added $7.0M. Capital expenditures of $475K left free cash flow of $9.7M.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q3 2026 | 10-Q | Nov 5, 2026 | $59.4M | -20% | 5.5% | $2.0M | $10.1M |
| Q2 2026 | 10-Q | Aug 7, 2026 | $78.3M | +8% | 9.4% | $4.9M | $6.8M |
| Q1 2026 | 10-Q | May 11, 2026 | $60.2M | +9% | 2.4% | $330K | −$12.8M |
| Q4 2025 | 10-K | Mar 16, 2026 | $44.4M | +28% | -25.2% | −$8.6M | −$32.5M |
| Q3 2025 | 10-Q | Nov 7, 2025 | $74.0M | +20% | 18.9% | $12.4M | $8.8M |
| Q2 2025 | 10-Q | Aug 1, 2025 | $72.8M | -3% | 17.5% | $10.2M | $6.4M |
| Q1 2025 | 10-Q | May 9, 2025 | $55.3M | -15% | 5.6% | $2.8M | $14.2M |
Charts
Interactive views
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💵Where each $1 goesinteractive
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🌏Named in Asian annual reportsinteractive
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🔄Rotation against the market and its industry (RRG)interactive
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🔍Earnings qualityinteractive
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⚖️Fair value by methodinteractive
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🔭Outlook & guidanceinteractive
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📈Investments: gains and what it boughtinteractive
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🏭Its industry’s money flow (input-output)interactive
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About Hudson Technologies
Hudson Technologies, Inc. (“Hudson” or the “Company”), incorporated under the laws of New York on January 11, 1991, is a refrigerant services company providing innovative solutions to recurring problems within the refrigeration industry. Hudson has proven, reliable programs that meet customer refrigerant needs by providing environmentally sustainable solutions from initial sale of refrigerant gas through recovery, reclamation and reuse, peak operating performance of equipment through energy efficiency and emergency air conditioning and refrigeration system repair, to final refrigerant disposal and carbon credit trading.
In its own words, from its 10-K, filed Mar 16, 2026.
Hudson Technologies against its Wholesale-Machinery, Equipment & Supplies peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: -20% against the peers' median +11%. Operating margin: 5.5% against the peers' median 4.7%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| HDSN Hudson Technologies | Q3 2026 | $59.4M | -20% | 5.5% |
| AIT Applied Industrial Technologies | Q1 FY27 | $1.3B | +8% | 11.1% |
| DSGR Distribution Solutions Group | Q3 2026 | $574M | +11% | 4.4% |
| WLFC Willis Lease Finance | Q3 2026 | $246M | +34% | 4.7% |
| ASLE AerSale | Q3 2026 | $91.6M | +29% | -12.7% |
Source: Hudson Technologies 10-Q on SEC EDGAR · CIK 925528 · Wholesale-Machinery, Equipment & Supplies
Guidance and outlook
13F: who owns HDSN and who is buying
More on HDSN
History
Every quarter: Q3 2026 results · Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results
- Hudson Technologies gross margin by quarter
- Hudson Technologies operating margin by quarter
- Hudson Technologies net income by quarter
- Hudson Technologies free cash flow by quarter
- Hudson Technologies capital expenditures by quarter
- Hudson Technologies Product revenue by quarter
- Hudson Technologies Refrigerant Side Services revenue by quarter