Q3 2020 Hudson Technologies Inc Earnings Call

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And breakeven profitability in the third quarter.

Our financial position and liquidity strengthened during the quarter with total liquidity at September 30th 2020 of approximately $42 million, which includes cash and revolver availability.

In addition, during the quarter, we fully paid down a revolver, while increasing our cash balance to $9.2 million.

We're very pleased to have made this progress in the quarter, despite the challenging environment.

In the face of this economic environment, we like many in the refrigerant industry remain focused on controlling what we can do to effectively navigate through this pandemic.

Global aftermarket business, including project management demand planning pricing strategy process efficiency, a new product commercialization.

With this 30 years of experience in strategic planning marketing product management, he's already become a valuable resource as we shape the company's future.

Voluntary carbon offsets, resulting for the reclamation of HFC refrigerant across the country using the American carbon registries certified reclaim HFC refrigerant protocol, where the ACR protocol.

To give you a real World example.

If there was a release of refrigerant from your central Air conditioning system that.

That would cause a severe adverse impact to the environment to.

And the associated closures of our.

Click venues adversely impacted our end markets and the overall demand for refrigerants.

Want to note that the third quarter 2019 net income included other income of $8.9 million consisting of proceeds from the working capital settlement arising from the acquisition of Aspen Refrigerants, Inc., which then led to the net income of $2.7 million last year.

On an LTM basis adjusted EBITDA at September Thirtyth, 2020 was $14.9 million with a leverage ratio of 5.8 times.

A tremendous improvement compared to LTM, adjusted EBITDA of $8.5 million and a leverage ratio of 13.8 times at September Thirtyth 2019.

Uh huh.

Please hold while we poll for questions.

Figured out at all or are we still.

Working down the Virgin gas inventory.

So our business will likely look something similar to the overall marketplace since we touch most within the marketplace.

Okay.

And we look forward to speaking with you after the fourth quarter results have a good night everybody.

Thank you.

Thank you.

Today's conference call you. Thank you for your participation you may disconnect denies at this time and have a great day.