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Fuel Tech Reports 2024 Third Quarter Financial Results

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Fuel Tech (NASDAQ: FTEK) reported Q3 2024 financial results with revenues of $7.9 million, slightly down from $8.0 million in Q3 2023. The company achieved net income of $80,000 ($0.00 per share), compared to $459,000 ($0.01 per share) in Q3 2023. FUEL CHEM segment revenue increased to $4.6 million, while APC segment revenue declined to $3.2 million. The company maintains a strong financial position with $31.3 million in cash and investments, no debt, and stockholders' equity of $43.9 million. A new commercial TIFI® technology program is expected to generate $1.5-$2.0 million in annual revenue, and the company secured approximately $2 million in new APC orders.

Fuel Tech (NASDAQ: FTEK) ha riportato i risultati finanziari per il terzo trimestre del 2024, con ricavi di 7,9 milioni di dollari, in leggero calo rispetto agli 8,0 milioni di dollari del terzo trimestre del 2023. L'azienda ha registrato un utile netto di 80.000 dollari (0,00 dollari per azione), rispetto ai 459.000 dollari (0,01 dollari per azione) del terzo trimestre del 2023. I ricavi del segmento FUEL CHEM sono aumentati a 4,6 milioni di dollari, mentre i ricavi del segmento APC sono diminuiti a 3,2 milioni di dollari. L'azienda mantiene una solida posizione finanziaria con 31,3 milioni di dollari in contante e investimenti, nessun debito e un patrimonio netto di azionisti di 43,9 milioni di dollari. Un nuovo programma tecnologico commerciale TIFI® dovrebbe generare 1,5-2,0 milioni di dollari di ricavi annuali, e l'azienda ha ottenuto circa 2 milioni di dollari in nuovi ordini APC.

Fuel Tech (NASDAQ: FTEK) reportó los resultados financieros del tercer trimestre de 2024, con ingresos de 7,9 millones de dólares, ligeramente inferiores a los 8,0 millones de dólares del tercer trimestre de 2023. La empresa logró un ingreso neto de 80,000 dólares (0,00 dólares por acción), en comparación con 459,000 dólares (0,01 dólares por acción) en el tercer trimestre de 2023. Los ingresos del segmento FUEL CHEM aumentaron a 4,6 millones de dólares, mientras que los ingresos del segmento APC disminuyeron a 3,2 millones de dólares. La empresa mantiene una fuerte posición financiera con 31,3 millones de dólares en efectivo e inversiones, sin deudas y un patrimonio de los accionistas de 43,9 millones de dólares. Se espera que un nuevo programa tecnológico comercial TIFI® genere entre 1,5 y 2,0 millones de dólares en ingresos anuales, y la empresa aseguró aproximadamente 2 millones de dólares en nuevos pedidos de APC.

퓨엘 테크 (NASDAQ: FTEK)가 2024년 3분기 재무 결과를 발표했습니다. 수익은 790만 달러로, 2023년 3분기의 800만 달러에서 약간 감소했습니다. 회사는 80,000 달러(주당 0.00 달러)의 순이익을 달성했으며, 이는 2023년 3분기 459,000 달러(주당 0.01 달러)와 비교됩니다. FUEL CHEM 부문 수익은 460만 달러로 증가한 반면, APC 부문 수익은 320만 달러로 감소했습니다. 회사는 현금 및 투자액이 3,130만 달러, 부채가 없으며, 주주 지분이 4,390만 달러에 달하는 강력한 재무 상태를 유지하고 있습니다. 새로운 상업 기술 프로그램 TIFI®는 연간 수익을 150만-200만 달러 생성할 것으로 예상되며, 회사는 약 200만 달러의 새로운 APC 주문을 확보했습니다.

Fuel Tech (NASDAQ: FTEK) a annoncé les résultats financiers du troisième trimestre 2024, avec des revenus de 7,9 millions de dollars, légèrement en baisse par rapport aux 8,0 millions de dollars du troisième trimestre 2023. L'entreprise a réalisé un bénéfice net de 80 000 dollars (0,00 dollar par action), contre 459 000 dollars (0,01 dollar par action) au troisième trimestre 2023. Les revenus du segment FUEL CHEM ont augmenté à 4,6 millions de dollars, tandis que les revenus du segment APC ont diminué à 3,2 millions de dollars. L'entreprise maintient une solide position financière avec 31,3 millions de dollars en liquidités et investissements, aucune dette et des capitaux propres de 43,9 millions de dollars. Un nouveau programme technologique commercial TIFI® devrait générer entre 1,5 et 2,0 millions de dollars de revenus annuels, et l'entreprise a sécurisé environ 2 millions de dollars de nouvelles commandes APC.

Fuel Tech (NASDAQ: FTEK) hat die finanziellen Ergebnisse für das 3. Quartal 2024 veröffentlicht, mit Einnahmen von 7,9 Millionen US-Dollar, was einem leichten Rückgang gegenüber 8,0 Millionen US-Dollar im 3. Quartal 2023 entspricht. Das Unternehmen erzielte einen Nettogewinn von 80.000 US-Dollar (0,00 US-Dollar pro Aktie), verglichen mit 459.000 US-Dollar (0,01 US-Dollar pro Aktie) im 3. Quartal 2023. Der Umsatz im FUEL CHEM-Segment stieg auf 4,6 Millionen US-Dollar, während der Umsatz im APC-Segment auf 3,2 Millionen US-Dollar sinkte. Das Unternehmen hat eine starke finanzielle Position mit 31,3 Millionen US-Dollar in Bargeld und Investitionen, keinen Schulden und einem Eigenkapital von 43,9 Millionen US-Dollar. Ein neues kommerzielles TIFI®-Technologieprogramm wird voraussichtlich jährliche Einnahmen von 1,5 bis 2,0 Millionen US-Dollar generieren, und das Unternehmen sicherte sich etwa 2 Millionen US-Dollar an neuen APC-Bestellungen.

Positive
  • Strong financial position with $31.3 million in cash and investments and no debt
  • New TIFI® commercial program with potential annual revenue of $1.5-$2.0 million
  • Secured $2 million in new APC orders
  • FUEL CHEM segment revenue increased to $4.6 million from $4.3 million
  • Return to profitable operations with $80,000 net income
Negative
  • Overall revenue declined to $7.9 million from $8.0 million year-over-year
  • Net income decreased to $80,000 from $459,000 year-over-year
  • APC segment revenue declined to $3.2 million from $3.7 million
  • APC gross margin decreased to 35.0% from 40.3%
  • SG&A expenses increased to $3.2 million from $3.0 million

Insights

The Q3 2024 results present a mixed financial picture. While FTEK achieved profitability, key metrics show concerning trends: revenue declined slightly to $7.9 million from $8.0 million, with gross margins dropping to 43.4% from 45.2%. The increased SG&A expenses to 41.1% of revenue is particularly concerning, suggesting operational inefficiency.

The bright spots include a strong balance sheet with $31.3 million in cash/investments and zero debt, plus a new FUEL CHEM contract with $1.5-2.0 million annual revenue potential. However, the declining APC backlog of $6.4 million (down from $7.5 million) and reduced net income of $80,000 versus $459,000 YoY indicate execution challenges.

The company's strategic positioning in emissions control and water treatment shows promise, particularly with the new TIFI® technology deployment and DGI™ expansion into aquaculture and food processing. The successful WEFTEC exhibition and pending demonstrations signal growing market interest in their water treatment solutions.

However, the core APC business faces headwinds with project delays and timing issues. The diversification into multiple environmental applications (NOx reduction, water treatment, combustion optimization) provides some resilience, but execution and sales cycle management need improvement to drive consistent growth.

WARRENVILLE, Ill., Nov. 06, 2024 (GLOBE NEWSWIRE) -- Fuel Tech, Inc. (NASDAQ: FTEK), a technology company providing advanced engineering for the optimization of combustion systems, emissions control, and water treatment in utility and industrial applications, today reported financial results for the third quarter ended September 30, 2024 (Q3 2024).

“Our third quarter results included a return to profitable operations, fostering new customer relationships, and a focus on balancing expense discipline with targeted investments in new technologies,” said Vincent J. Arnone, President and CEO. “Our financial position at September 30, 2024 was strong, with $31.3 million in cash and investments and no debt.”  

Mr. Arnone continued, “We realized improved quarter-over-quarter performance at our FUEL CHEM® business segment in the 2024 third quarter and in the current fourth quarter commenced a new commercial program after a successful demonstration of our TIFI® Targeted In-Furnace Injection™ technology. The annual revenue potential from this commercial contract is projected to be approximately $1.5 to $2.0 million based on the customer running the program full-time, with the revenue expected to generate historic FUEL CHEM® gross margins. We are pursuing additional opportunities to showcase our chemical technologies at additional domestic sites and currently expect to commence a demonstration of our TIFI® technology in early 2025 at a potential new client in the Midwest United States. We believe that the innovative approach of our fireside treatment program to reduce downtime, improve plant operations and provide a return on investment while helping customers meet emission regulatory requirements is resonating.  

“Revenues at our Air Pollution Control (APC) business declined quarter-over-quarter, due primarily to customer-driven delays and project timing. We were pleased to announce approximately $2 million of new APC orders earlier today and hope to close several new APC orders by the end of 2024 or early 2025.”  

He concluded, “We are also continuing to pursue the growth and development of our Dissolved Gas Infusion (DGITM) technology. We had a very successful exhibition of DGITM at the Water Environment Federation Technical Exhibition and Conference, or WEFTEC, in New Orleans last month, and generated significant interest in the technology. With respect to product demonstrations, discussions are progressing with one of the largest food processors in the country to utilize DGITM to provide dissolved oxygen for the wastewater treatment facility at a food processing plant that they own and operate, and also with a municipal wastewater treatment facility in the Southeastern United States. Lastly, we are pleased to note that that we have finalized a demonstration agreement with a U.S. fish hatchery to highlight the capabilities of DGITM for this aquaculture application, with the demonstration start date targeted at the beginning of the second quarter of 2025 to coincide with the hatchery’s next growth cycle.”

Q3 2024 Consolidated Results Overview

Consolidated revenues for Q3 2024 declined to $7.9 million from $8.0 million in the three months ended September 30, 2023 (Q3 2023), reflecting higher FUEL CHEM revenue offset by a decrease in APC revenue.   

Consolidated gross margin for Q3 2024 declined to 43.4% of revenues from 45.2% of revenues in Q3 2023, primarily due to lower APC gross margin while FUEL CHEM gross margin remained steady.

SG&A expenses increased to $3.2 million from $3.0 million in Q3 2023, primarily reflecting increases in employee compensation and benefit related costs and higher administrative expenses, partially offset by decreases in international administrative expenses. As a percentage of revenues, SG&A expenses rose to 41.1% in Q3 2024 from 37.1% in Q3 2023.

Interest income was flat at $0.3 million and related primarily to interest received on the held-to-maturity debt securities and money market funds.

Net income in Q3 2024 was $80,000, or $0.00 per share, compared to net income of $459,000, or $0.01 per share, in Q3 2023.

Consolidated APC segment backlog at September 30, 2024 was $6.4 million compared to $7.5 million at December 31, 2023, and did not include the aforementioned $2 million of new APC contracts.

APC segment revenue declined to $3.2 million from $3.7 million in Q3 2023, primarily related to customer driven delays in project execution and to the timing of new contract awards. APC gross margin decreased to 35.0% from 40.3%, primarily due to product and project mix.

FUEL CHEM segment revenue rose to $4.6 million from $4.3 million in Q3 2023, reflecting customer outage completions and increased dispatch. Gross margin was steady at 49%.

Adjusted EBITDA loss was $(35,000) compared to Adjusted EBITDA of $352,000 in Q3 2023.

Financial Condition

At September 30, 2024, cash and cash equivalents were $12.3 million, short-term investments were $8.2 million, and long-term investments totaled $10.9 million. Stockholders’ equity at September 30, 2024 was $43.9 million, or $1.42 per share, and the Company had no debt.

Conference Call

Management will host a conference call on Thursday, November 7, 2024 at 10:00 am ET / 9:00 am CT to discuss the results and business activities. Interested parties may participate in the call by dialing:

  • (877) 423-9820 (Domestic) or
  • (201) 493-6749 (International)

The conference call will also be accessible via the Upcoming Events section of the Company’s web site at www.ftek.com. Following management’s opening remarks, there will be a question-and-answer session. Questions may be asked during the live call, or alternatively, you may e-mail questions in advance to dsullivan@equityny.com. For those who cannot listen to the live broadcast, an online replay will be available at www.ftek.com.

About Fuel Tech
Fuel Tech develops and commercializes state-of-the-art proprietary technologies for air pollution control, process optimization, water treatment, and advanced engineering services. These technologies enable customers to operate in a cost-effective and environmentally sustainable manner. Fuel Tech is a leader in nitrogen oxide (NOx) reduction and particulate control technologies and its solutions have been installed on over 1,300 utility, industrial and municipal units worldwide. The Company’s FUEL CHEM® technology improves the efficiency, reliability, fuel flexibility, boiler heat rate, and environmental status of combustion units by controlling slagging, fouling, corrosion and opacity. Water treatment technologies include DGI® Dissolved Gas Infusion Systems which utilize a patented saturator and a patent-pending channel injector to deliver supersaturated oxygen solutions and other gas-water combinations to target process applications or environmental issues. This infusion process has a variety of applications in the water and wastewater industries, including remediation, aeration, biological treatment and wastewater odor management. Many of Fuel Tech’s products and services rely heavily on the Company’s exceptional Computational Fluid Dynamics modeling capabilities, which are enhanced by internally developed, high-end visualization software. For more information, visit Fuel Tech’s web site at www.ftek.com.

NOTE REGARDING FORWARD-LOOKING STATEMENTS

This press release contains “forward-looking statements” as defined in Section 21E of the Securities Exchange Act of 1934, as amended, which are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and reflect Fuel Tech’s current expectations regarding future growth, results of operations, cash flows, performance and business prospects, and opportunities, as well as assumptions made by, and information currently available to, our management. Fuel Tech has tried to identify forward-looking statements by using words such as “anticipate,” “believe,” “plan,” “expect,” “estimate,” “intend,” “will,” and similar expressions, but these words are not the exclusive means of identifying forward-looking statements. These statements are based on information currently available to Fuel Tech and are subject to various risks, uncertainties, and other factors, including, but not limited to, those discussed in Fuel Tech’s Annual Report on Form 10-K in Item 1A under the caption “Risk Factors,” and subsequent filings under the Securities Exchange Act of 1934, as amended, which could cause Fuel Tech’s actual growth, results of operations, financial condition, cash flows, performance and business prospects and opportunities to differ materially from those expressed in, or implied by, these statements. Fuel Tech undertakes no obligation to update such factors or to publicly announce the results of any of the forward-looking statements contained herein to reflect future events, developments, or changed circumstances or for any other reason. Investors are cautioned that all forward-looking statements involve risks and uncertainties, including those detailed in Fuel Tech’s filings with the Securities and Exchange Commission.


FUEL TECH, INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
(Unaudited)
(in thousands, except share and per share data)
 
  September 30,  December 31, 
  2024  2023 
ASSETS        
Current assets:        
Cash and cash equivalents $12,274  $17,578 
Short-term investments  8,162   12,136 
Accounts receivable, less current expected credit loss of $106 and $111, respectively  9,202   6,729 
Inventories, net  441   439 
Prepaid expenses and other current assets  838   1,439 
Total current assets  30,917   38,321 
Property and equipment, net of accumulated depreciation of $18,926 and $18,703, respectively  4,596   4,539 
Goodwill  2,116   2,116 
Other intangible assets, net of accumulated amortization of $510 and $468, respectively  327   358 
Right-of-use operating lease assets, net  523   609 
Long-term investments  10,881   3,664 
Other assets  757   781 
Total assets $50,117  $50,388 
LIABILITIES AND STOCKHOLDERS' EQUITY        
Current liabilities:        
Accounts payable $3,271  $2,421 
Accrued liabilities:        
Operating lease liabilities - current  81   81 
Employee compensation  759   1,252 
Other accrued liabilities  1,204   1,934 
Total current liabilities  5,315   5,688 
Operating lease liabilities - non-current  480   533 
Deferred income taxes, net  172   172 
Other liabilities  286   281 
Total liabilities  6,253   6,674 
Stockholders’ equity:        
Common stock, $.01 par value, 40,000,000 shares authorized, 31,767,329 and 31,361,303 shares issued, and 30,708,273 and 30,385,297 shares outstanding, respectively  317   313 
Additional paid-in capital  165,186   164,853 
Accumulated deficit  (117,589)  (117,529)
Accumulated other comprehensive loss  (1,780)  (1,748)
Nil coupon perpetual loan notes  76   76 
Treasury stock, at cost  (2,346)  (2,251)
Total stockholders’ equity  43,864   43,714 
Total liabilities and stockholders’ equity $50,117  $50,388 

See notes to condensed consolidated financial statements.


FUEL TECH, INC.
CONSOLIDATED STATEMENTS OF OPERATIONS
(Unaudited)
(in thousands, except share and per-share data)
 
  Three Months Ended  Nine Months Ended 
  September 30,  September 30, 
  2024  2023  2024  2023 
Revenues $7,851  $7,988  $19,850  $20,736 
Costs and expenses:                
Cost of sales  4,444   4,376   11,462   12,323 
Selling, general and administrative  3,225   2,966   9,815   9,126 
Research and development  361   513   1,159   1,144 
   8,030   7,855   22,436   22,593 
Operating (loss) income  (179)  133   (2,586)  (1,857)
Interest expense     (5)     (15)
Interest income  323   322   968   968 
Other (expense) income, net  (63)  9   1,576   (95)
Income (loss) before income taxes  81   459   (42)  (999)
Income tax expense  (1)     (18)   
Net income (loss) $80  $459  $(60) $(999)
Net income (loss) per common share:                
Basic net income (loss) per common share $0.00  $0.02  $(0.00) $(0.03)
Diluted net income (loss) per common share $0.00  $0.01  $(0.00) $(0.03)
Weighted-average number of common shares outstanding:                
Basic  30,708,000   30,385,000   30,526,000   30,336,000 
Diluted  30,848,000   30,627,000   30,526,000   30,336,000 

See notes to condensed consolidated financial statements.


FUEL TECH, INC.
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS)
(Unaudited)
(in thousands)
 
  Three Months Ended  Nine Months Ended 
  September 30,  September 30, 
  2024  2023  2024  2023 
Net income (loss) $80  $459  $(60) $(999)
Other comprehensive income (loss):                
Foreign currency translation adjustments  106   (122)  (32)  (84)
Comprehensive income (loss) $186  $337  $(92) $(1,083)

See notes to condensed consolidated financial statements.


FUEL TECH, INC.
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(Unaudited)
(in thousands)
 
  Nine Months Ended 
  September 30, 
  2024  2023 
Operating Activities        
Net loss $(60) $(999)
Adjustments to reconcile net loss to net cash (used in) provided by operating activities:        
Depreciation  248   247 
Amortization  42   46 
Non-cash interest income on held-to-maturity securities  (109)  (319)
Stock-based compensation, net of forfeitures  337   288 
Changes in operating assets and liabilities:        
Accounts receivable  (845)  5 
Employee retention credit receivable  (1,677)   
Inventory  (3)  68 
Prepaid expenses, other current assets and other non-current assets  655   363 
Accounts payable  842   172 
Accrued liabilities and other non-current liabilities  (1,215)  520 
Net cash (used in) provided by operating activities  (1,785)  391 
Investing Activities        
Purchases of equipment and patents  (316)  (201)
Purchases of debt securities  (14,072)  (14,026)
Maturities of debt securities  11,000   4,000 
Net cash used in investing activities  (3,388)  (10,227)
Financing Activities        
Taxes paid on behalf of award participants  (95)   
Proceeds from exercise of stock options     42 
Net cash (used in) provided by financing activities  (95)  42 
Effect of exchange rate fluctuations on cash  (36)  (51)
Net decrease in cash and cash equivalents  (5,304)  (9,845)
Cash and cash equivalents at beginning of period  17,578   23,328 
Cash and cash equivalents at end of period $12,274  $13,483 

See notes to condensed consolidated financial statements.


FUEL TECH, INC.
Segment Data- Reporting Segments
(Unaudited)
(in thousands)
 
Information about reporting segment net sales and gross margin from operations is provided below:
 
  Air Pollution  FUEL CHEM         
Three months ended September 30, 2024 Control Segment  Segment  Other  Total 
Revenues from external customers $3,224  $4,627  $  $7,851 
Cost of sales  (2,095)  (2,349)     (4,444)
Gross margin  1,129   2,278      3,407 
Selling, general and administrative        (3,225)  (3,225)
Research and development        (361)  (361)
Operating income (loss) from operations $1,129  $2,278  $(3,586) $(179)
  

Air Pollution
  FUEL CHEM         
Three months ended September 30, 2023 Control Segment  Segment  Other  Total 
Revenues from external customers $3,711  $4,277  $  $7,988 
Cost of sales  (2,214)  (2,162)     (4,376)
Gross margin  1,497   2,115      3,612 
Selling, general and administrative        (2,966)  (2,966)
Research and development        (513)  (513)
Operating income (loss) from operations $1,497  $2,115  $(3,479) $133 
  

Air Pollution
  FUEL CHEM         
Nine months ended September 30, 2024 Control Segment  Segment  Other  Total 
Revenues from external customers $9,491  $10,359  $  $19,850 
Cost of sales  (5,927)  (5,535)     (11,462)
Gross margin  3,564   4,824      8,388 
Selling, general and administrative        (9,815)  (9,815)
Research and development        (1,159)  (1,159)
Operating income (loss) from operations $3,564  $4,824  $(10,974) $(2,586)
  

Air Pollution
  FUEL CHEM         
Nine months ended September 30, 2023 Control Segment  Segment  Other  Total 
Revenues from external customers $10,692  $10,044  $  $20,736 
Cost of sales  (7,155)  (5,168)     (12,323)
Gross margin  3,537   4,876      8,413 
Selling, general and administrative        (9,126)  (9,126)
Research and development        (1,144)  (1,144)
Operating income (loss) from operations $3,537  $4,876  $(10,270) $(1,857)


  
FUEL TECH, INC.
Geographic Segment Financial Data
(Unaudited)
(in thousands of dollars)
 
  
Information concerning our operations by geographic area is provided below. Revenues are attributed to countries based on the location of the end-user. Assets are those directly associated with operations of the geographic area. 
  
  Three Months Ended  Six Months Ended 
  June 30,  June 30, 
  2024  2023  2024  2023 
Revenues:                
United States $5,453  $5,640  $13,519  $15,937 
Foreign  2,398   2,348   6,331   4,799 
  $7,851  $7,988  $19,850  $20,736 
   


  September 30,  December 31, 
  2024  2023 
Assets:        
United States $45,789  $46,487 
Foreign  4,328   3,901 
  $50,117  $50,388 


FUEL TECH, INC.
RECONCILIATION OF GAAP NET INCOME (LOSS) TO EBITDA AND ADJUSTED EBITDA
(Unaudited)
(in thousands)
 
  Three Months Ended  Nine Months Ended 
  September 30,  September 30, 
  2024  2023  2024  2023 
                 
Net Income (loss) $80  $459  $(60) $(999)
Interest income, net  (323)  (317)  (968)  (953)
Income tax expense  1   -   18   - 
Depreciation expense  87   93   248   247 
Amortization expense  11   16   42   46 
EBITDA  (144)  251   (720)  (1,659)
Stock compensation expense  109   101   337   288 
Gain on employee retention credit  -   -   (1,677)  - 
Adjusted EBITDA $(35) $352  $(2,060) $(1,371)

Adjusted EBITDA

To supplement the Company's consolidated financial statements presented in accordance with generally accepted accounting principles in the United States (GAAP), the Company has provided an Adjusted EBITDA disclosure as a measure of financial performance. Adjusted EBITDA is defined as net income (loss) before interest expense, income tax expense (benefit), depreciation expense, amortization expense, stock compensation expense and gain on employee retention credit. The Company's reference to these non-GAAP measures should be considered in addition to results prepared in accordance with GAAP standards, but are not a substitute for, or superior to, GAAP results.

Adjusted EBITDA is provided to enhance investors' overall understanding of the Company's current financial performance and ability to generate cash flow, which we believe is a meaningful measure for our investor and analyst communities. In many cases non-GAAP financial measures are utilized by these individuals to evaluate Company performance and ultimately determine a reasonable valuation for our common stock. A reconciliation of Adjusted EBITDA to the nearest GAAP measure of net income (loss) has been included in the above financial table.

CONTACT:

Vince Arnone
President and CEO
(630) 845-4500

Devin Sullivan
Managing Director
The Equity Group Inc.
dsullivan@equityny.com


FAQ

What was Fuel Tech's (FTEK) revenue in Q3 2024?

Fuel Tech reported revenues of $7.9 million in Q3 2024, slightly down from $8.0 million in Q3 2023.

What is the value of new APC orders announced by Fuel Tech (FTEK) in Q3 2024?

Fuel Tech announced approximately $2 million in new APC (Air Pollution Control) orders.

How much cash and investments did Fuel Tech (FTEK) have as of September 30, 2024?

Fuel Tech had $31.3 million in total cash and investments, consisting of $12.3 million in cash and cash equivalents, $8.2 million in short-term investments, and $10.9 million in long-term investments.

What was Fuel Tech's (FTEK) net income in Q3 2024?

Fuel Tech reported a net income of $80,000, or $0.00 per share, in Q3 2024.

Fuel Tech, Inc.

NASDAQ:FTEK

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33.78M
23.76M
22.39%
21.01%
0.56%
Pollution & Treatment Controls
Industrial & Commercial Fans & Blowers & Air Purifing Equip
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United States of America
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