Hudson Technologies, Inc. (NASDAQ:HDSN) Q2 2022 Earnings Conference Call August 3, 2022 5:00 PM ET
Company Participants
John Nesbett - Founder and President
Brian Coleman - Chairman, President & CEO
Nat Krishnamurti - VP, Secretary & CFO
Conference Call Participants
Ryan Sigdahl - Craig-Hallum
Chip Moore - EF Hutton
Gerard Sweeney - ROTH Capital Partners
Operator
Good afternoon, ladies and gentlemen, and welcome to the Hudson Technologies Second Quarter 2022 Earnings Call. [Operator Instructions].
It is now my pleasure to turn the floor over to your host, John Nesbett. Sir, the floor is yours.
John Nesbett
Thank you, Ali. Good evening, and welcome to our conference call to discuss Hudson Technologies' financial results for the second quarter 2022. On the call today are Brian Coleman, President and Chief Executive Officer; and Nat Krishnamurti, Chief Financial Officer. I'll take a moment to read the safe harbor statement.
During the course of this conference call, we will make certain forward-looking statements. All statements that address expectations, opinions and predictions about the future are forward-looking statements. Although they reflect our current expectations and are based on our best view of the industry and our business, as we see them today, they are not guarantees of future performance. Please understand that these statements involve a number of risks and assumptions.
And since these elements can change and, in certain cases, are not within our control, we would ask you consider and interpret them in that light. We urge you to review Hudson's most recent Form 10-K and other subsequent SEC filings for a discussion of the principal risks and uncertainties that affect our business and our performance and other factors that could cause the actual results to differ materially.
Okay. With that, I will now turn the call over to Brian Coleman. Go ahead, Brian.
Brian Coleman
Good evening, and thank you for joining us. Our second quarter results showed continued strength with substantial revenue growth, significantly enhanced margins and increased cash flow and profitability. We're seeing consistent momentum as the selling season unfolds. And our second quarter results reflect sustained strength in the price of certain refrigerants. In addition to record revenues for the second quarter of 2022, gross margin increased to 55%, as the average selling prices remain consistent with the levels achieved during the first quarter of 2022. At these pricing levels, we maintained a higher average selling price without material appreciation in the cost basis of certain refrigerants.