Hudson Technologies (NASDAQ:HDSN) Increases Share Repurchase Program

Hudson Technologies Inc. (NASDAQ:HDSN) recently announced a significant development regarding its share repurchase program. The company’s Board of Directors approved an increase in the program, allowing for the purchase of up to $20 million in shares of its common stock. This amplification includes the acquisition of up to $10 million in shares during each calendar year of 2024 and 2025.

Under the share repurchase program, Hudson has the discretion to buy back its common stock through various channels such as open market repurchases, privately negotiated transactions, or Rule 10b5-1 trading plans. Purchases will be executed during specified “open window” periods, avoiding any possession of material non-public information. The exact number of shares to be repurchased and the timing will depend on several factors including stock price, market conditions, and regulatory requirements.

The Company’s President and Chief Executive Officer, Brian F. Coleman, highlighted the dual focus on growth investments and returning capital to shareholders. Coleman emphasized that the increase in the buyback program mirrors the Board’s confidence in Hudson’s long-term growth prospects, reinforcing the commitment to a disciplined capital allocation strategy encompassing business needs, acquisitions, and share repurchases.

Hudson Technologies Inc. is a renowned provider of eco-friendly refrigerant products and services for the Heating Ventilation Air Conditioning and Refrigeration industry. With a commitment spanning nearly thirty years, the Company has established itself as a leader in refrigerant reclamation, adhering to rigorous standards for sustainability. Their offerings cater primarily to commercial air conditioning, industrial processing, and refrigeration systems.

The announcement comes as part of Hudson’s continuous efforts to enhance shareholder value and pursue strategic financial objectives. Stock repurchases are a common mechanism employed by companies to signal confidence in their financial stability and growth trajectory. The move to expand the repurchase program reflects Hudson’s commitment to driving shareholder value, backed by a strong balance sheet.

The full announcement on the share repurchase program can be reviewed in the press release dated October 25, 2024, which is furnished as Exhibit 99.1 to the Company’s recent SEC filing.

For further details and potential updates, investors and stakeholders are encouraged to refer to the official filings and disclosures available on the SEC website.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Hudson Technologies’s 8K filing here.

About Hudson Technologies

Hudson Technologies, Inc, through its subsidiary, Hudson Technologies Company, engages in the provision of solutions to recurring problems within the refrigeration industry in the United States. The company engages in the sale of refrigerant and industrial gas; provision of refrigerant management services consisting primarily of reclamation of refrigerants, re-usable cylinder refurbishment, and hydrostatic testing services; and RefrigerantSide services comprising system decontamination and recovery to remove moisture, oils, and other contaminants.