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WOODCLIFF LAKE, N.J. - Hudson Technologies, Inc. (NASDAQ:HDSN), a company with a market capitalization of $395 million and strong financial health according to InvestingPro metrics, has been awarded a contract with the United States Defense Logistics Agency (DLA) valued at approximately $210 million for the initial five-year base period, according to a press release statement issued Wednesday.
The company will continue as prime contractor for the management and supply of refrigerants, compressed gases, cylinders and related items to U.S. Military Commands and Installations and Federal civilian agencies. Primary users include the U.S. Army, Navy, Air Force and Marine Corps. The company maintains a robust balance sheet with more cash than debt and a healthy current ratio of 3.88, indicating strong operational stability.
The indefinite delivery, indefinite quantity (IDIQ) contract includes a five-year renewal option. Hudson Technologies has served as prime contractor for these services since 2016 and retained the contract following a standard competitive review and rebidding process.
"After successfully supporting the U.S. military since 2016, we are very pleased to have won the opportunity to continue as their prime contractor," said Brian F. Coleman, President and Chief Executive Officer of Hudson Technologies.
Hudson Technologies describes itself as a provider of refrigerant products and services to the Heating, Ventilation, Air Conditioning, and Refrigeration industry. The company also identifies as one of the nation’s largest refrigerant reclaimers.
The contract represents a continuation of the company’s nine-year partnership with the DLA in providing materials to military installations and facilities.
In other recent news, Hudson Technologies Inc. reported its second-quarter 2025 earnings, surpassing Wall Street expectations with an earnings per share of $0.23, compared to the forecasted $0.16. The company achieved robust revenue of $72.8 million, which also exceeded projections. In another development, Canaccord Genuity upgraded Hudson Technologies from Hold to Buy, citing favorable pricing that enhanced margins despite lighter-than-expected volumes. Meanwhile, Hudson Technologies has partnered with DC Sustainable Energy Utility to launch a Refrigerant Recovery and Reclamation Pilot program aimed at reducing greenhouse gas emissions.
On a different note, Hudson Acquisition I Corp. announced that its shareholders approved an amendment to extend the business combination deadline up to nine times, through July 18, 2026. The amendment also removes the requirement for monthly deposits into the company’s trust account during the extension period. In the digital sector, HIVE Digital Technologies Ltd reported a significant increase in its Bitcoin production, with 267 Bitcoin mined in September, marking a 138% increase year-over-year. The company averaged a daily production of 9 Bitcoin during the month.
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