Hudson Technologies, Inc. (NASDAQ:HDSN) Q4 2023 Earnings Call Transcript March 6, 2024 5:00 PM ET
Company Participants
John Nesbett - IR, IMS IR
Brian Coleman - President and CEO
Nat Krishnamurti - CFO
Conference Call Participants
Ryan Sigdahl - Craig-Hallum
Josh Nichols - B. Riley
Leanne Hayden - Canaccord
Operator
Greetings and welcome to Hudson Technologies Fourth Quarter and Year-End 2023 Earnings Call. At this time all participants are in a listen-only mode. A question-and-answer session will follow the formal presentation. [Operator Instructions] Please note this conference is being recorded. I will now turn the conference over to your host, John Nesbett of IMS Investor Relations. John, you may begin.
John Nesbett
Thank you. Good evening and welcome to our conference call to discuss Hudson Technologies financial results for the fourth quarter 2023. On the call are Brian Coleman, President and Chief Executive Officer, and Nat Krishnamurti, Chief Financial Officer.
Now take a quick moment to read the safe harbor Statement. During the course of this conference call, we'll make certain forward-looking statements, all statements that address expectations, opinions, and predictions about the future of forward-looking statements. Although they reflect our current expectations and are based on our best view of the industry and our businesses, 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 that 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 the factors that could cause actual results to differ materially.
With that, I'll now turn the call over to Brian Coleman. Go ahead, Brian.
Brian Coleman
Good evening and thank you for joining us. 2023 was a strong year for our company, highlighted by consistently strong cash flow, profitability, and extinguishment of our term loan debt. We delivered a solid fourth quarter, consistent with our historical performance for this period. As many of you know, the fourth quarter is historically our weakest as it falls outside of our nine-month selling season of January to September. We had a difficult comparison in the fourth quarter of 2023, as the fourth quarter of 2022 benefited from higher sales prices for certain refrigerants, which favorably impacted revenue and margin performance in that period.