Fuel Tech, Inc. (FTEK) came out with a quarterly loss of $0.02 per share in line with the Zacks Consensus Estimate. This compares to earnings of $0.01 per share a year ago. These figures are adjusted for non-recurring items.A quarter ago, it was expected that this company would post a loss of $0.03 per share when it actually produced a loss of $0.06, delivering a surprise of -100%.Over the last four quarters, the company has surpassed consensus EPS estimates just once.Fuel Tech, which belongs to the Zacks P ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2025 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ______ to______. Commission file number: 001-33059 FUEL TECH, INC. (Exact name of registrant as specified in its charter) Delaware 20-5657551 (State or other ...

Exhibit 99.1 CONTACT:Vince Arnone Devin Sullivan President and CEO Managing Director (630) 845-4500 The Equity Group Inc. dsullivan@equityny.com FOR IMMEDIATE RELEASE FUEL TECH REPORTS 2025 FIRST QUARTER FINANCIAL RESULTS Select First Quarter 2025 Highlights WARRENVILLE, Ill., May 12, 2025 – Fuel Tech, Inc. (NASDAQ: FTEK), a technology company using advanced engineering processes to provide emissions control systems and water treatment technologies in utility and industrial applications, today reported fina ...

Core Insights - Fuel Tech, Inc. reported a strong first quarter performance for 2025, with consolidated revenues increasing by 29% to $6.4 million compared to $5.0 million in Q1 2024, primarily driven by a 92% rise in FUEL CHEM® revenue [4][6][8] - The company achieved a gross margin of 46.4% in Q1 2025, up from 40.9% in Q1 2024, reflecting improved performance in the FUEL CHEM segment [5][6] - The backlog for the company grew by 66% to $10.3 million, marking the highest quarterly backlog since 2022, indicating strong future demand [2][6][7] Financial Performance - FUEL CHEM segment revenue rose 92% to $5.1 million from $2.6 million in Q1 2024, attributed to outage completions and increased dispatch [8][20] - Air Pollution Control (APC) segment revenue decreased to $1.3 million from $2.3 million in Q1 2024, primarily due to timing of project execution [7][20] - The net loss for Q1 2025 was $(739,000), or $(0.02) per share, compared to net income of $281,000, or $0.01 per share in Q1 2024, which included a one-time other income amount [6][17] Operational Highlights - The company expects continued strong performance from the FUEL CHEM segment throughout 2025, driven by the return to full operation of base accounts and new commercial accounts [3][6] - Management is pursuing additional FUEL CHEM opportunities both domestically and internationally, with a new demonstration of TIFI® technology expected to commence in late Q3 2025 [3][6] - The company plans to demonstrate its DGI® technology at a fish hatchery in the Western U.S. late in Q2 2025, with hopes of generating commercial revenues in 2025 [3][6] Financial Condition - As of March 31, 2025, the company had $31.2 million in cash, cash equivalents, and investments, with no long-term debt [2][9] - The consolidated gross margin for Q1 2025 was 46.4%, reflecting a strong contribution from the FUEL CHEM segment [5][6] - Selling, general and administrative expenses remained flat at $3.3 million, but as a percentage of revenues, they declined to 52.4% from 67.5% in Q1 2024 [5][6]

Core Viewpoint - Fuel Tech, Inc. is set to release its financial results for Q1 2025 on May 12, 2025, and will host a conference call on May 13, 2025, to discuss these results and business activities [1][2]. Company Overview - Fuel Tech, Inc. specializes in advanced engineering processes for emissions control systems and water treatment technologies, serving utility and industrial applications [1]. - The company is recognized for its leadership in nitrogen oxide (NOx) reduction and particulate control technologies, with over 1,300 installations worldwide [3]. - Fuel Tech's FUEL CHEM technology enhances combustion unit efficiency and environmental performance by addressing issues like slagging and fouling [3]. - The company also offers water treatment technologies, including DGIDissolved Gas Infusion Systems, which are used in various applications such as remediation and wastewater management [3]. - Fuel Tech's products leverage advanced Computational Fluid Dynamics modeling and proprietary visualization software [3].

WARRENVILLE, Ill., March 27, 2025 (GLOBE NEWSWIRE) -- Fuel Tech, Inc. (NASDAQ:FTEK), a technology company using advanced engineering processes to provide emissions control systems and water treatment technologies in utility and industrial applications, today announced the receipt of air pollution control (APC) orders from new and existing customers in the US and Europe. These orders have an aggregate value of approximately $1.4 million.   A contract was received from a new customer in the US for an ULTRA® s ...

WARRENVILLE, Ill., March 27, 2025 (GLOBE NEWSWIRE) -- Fuel Tech, Inc. (NASDAQ: FTEK), a technology company using advanced engineering processes to provide emissions control systems and water treatment technologies in utility and industrial applications, today announced the receipt of air pollution control (APC) orders from new and existing customers in the US and Europe. These orders have an aggregate value of approximately $1.4 million.   A contract was received from a new customer in the US for an ULTRA® ...

Core Viewpoint - Fuel Tech, Inc. has announced the receipt of air pollution control orders valued at approximately $2.6 million from existing customers in the US and Japan, reflecting ongoing demand for its emissions control technologies [1][4]. Group 1: Orders and Contracts - A significant order from Japan involves an ULTRA® system for a natural gas-fired Combined Cycle utility plant, marking the fourth on-site unit for this customer and a follow-on from a 2017 contract [2]. - A domestic order has been received for advanced engineering services from a municipal waste unit customer in the Northeast, aimed at implementing an Advanced Selective Non-Catalytic Reduction (ASNCR) system [3]. - The company anticipates closing additional contracts worth $4 to $5 million by early in the second quarter of 2025, indicating a strong pipeline of opportunities [4]. Group 2: Technology and Services - Fuel Tech specializes in advanced engineering processes for emissions control and water treatment, with a focus on nitrogen oxide (NOx) reduction and particulate control technologies [5]. - The ULTRA process allows for the safe on-site conversion of urea to ammonia, enhancing energy efficiency and reducing hazards associated with ammonia transport and storage [2]. - The company's FUEL CHEM® technology improves combustion unit performance by addressing issues like slagging, fouling, and corrosion, while its water treatment technologies target various environmental applications [5].

Financial Data and Key Metrics Changes - Consolidated revenues for 2024 were $25.1 million, at the lower end of the guidance range of $25 million to $26 million, reflecting a 17% decrease in total APC segment revenue, partially offset by a 2% increase in FUEL CHEM revenue [7][32] - Consolidated gross margin for 2024 marginally decreased to 42% from 43% in the previous year, with a decline in both APC and FUEL CHEM gross margins [33] - Net loss for 2024 was $1.9 million or $0.06 per diluted share, compared to a net loss of $1.5 million or $0.05 per diluted share in 2023 [35] Business Line Data and Key Metrics Changes - FUEL CHEM segment revenue was essentially unchanged at $3.5 million, while APC segment revenue declined to $1.8 million from $2.8 million due to project execution timing [27][32] - APC gross margin declined to 36% from 55%, primarily due to product mix and lower segment revenue, while FUEL CHEM gross margin declined to 45% from 48% [28] Market Data and Key Metrics Changes - Consolidated APC segment backlog at December 31, 2024, was $6.2 million compared to $7.5 million at the end of 2023, with expectations for backlog to improve steadily through the first half of 2025 [28][29] - The company is pursuing opportunities in the municipal solid waste market driven by state-specific regulatory requirements, with potential awards expected in the near term [14] Company Strategy and Development Direction - The company is optimistic about exceeding $30 million in total revenues for 2025, with expectations that both business segments will outperform their 2024 performance [24][25] - The company is focusing on the commercialization of its DGI technology and pursuing multiple end markets, including aquaculture, wastewater treatment, and others [22][24] Management's Comments on Operating Environment and Future Outlook - Management expressed renewed optimism for 2025, citing improved performance in the FUEL CHEM business segment and a strong portfolio of APC business opportunities [9][14] - The company does not expect specific regulatory tailwinds from new regulations but is monitoring the status of existing regulations that could impact future NOx regulations for clients [16][20] Other Important Information - The company ended 2024 with cash, cash equivalents, and investments of approximately $30 million and no long-term debt, maintaining a strong financial position [8][36] - SG&A expenses increased to $13.8 million in 2024, reflecting higher employee-related costs, with expectations for a modest increase in 2025 [33] Q&A Session Summary Question: Outlook for 2025 revenues - Management confirmed that the $30 million revenue outlook includes expected contributions from new APC orders and some contributions from FUEL CHEM accounts [43][44] Question: Gross margin expectations - Management expects a return to historical gross margin levels for FUEL CHEM in the range of 49% to 50% for 2025, while APC margins are expected to remain in the 35% to 38% range [53][55] Question: Data center opportunities - Management highlighted that data centers are increasingly requiring nitrogen oxide controls due to regulatory requirements, and the company is actively bidding on related projects [86][126] Question: Potential for M&A or stock buybacks - Management is exploring small acquisition opportunities and licensing technologies that could benefit the company, while stock buyback discussions are ongoing [114][116]

Financial Data and Key Metrics Changes - Consolidated revenues for 2024 were $25.1 million, at the lower end of the guidance range of $25 million to $26 million, reflecting a 17% decrease in total APC segment revenue, partially offset by a 2% increase in FUEL CHEM revenue [7][32] - Consolidated gross margin for 2024 marginally decreased to 42% from 43% in the previous year, with a decline in both APC and FUEL CHEM gross margins [33] - Net loss for 2024 was $1.9 million or $0.06 per diluted share, compared to a net loss of $1.5 million or $0.05 per diluted share in 2023 [35] Business Segment Data and Key Metrics Changes - FUEL CHEM segment revenue was essentially unchanged at $3.5 million for Q4 2024, while APC segment revenue declined to $1.8 million from $2.8 million in the prior year [27] - APC gross margin declined to 36% from 55%, primarily due to product mix and lower segment revenue, while FUEL CHEM gross margin declined to 45% from 48% [28] - Consolidated APC segment backlog at December 31, 2024, was $6.2 million compared to $7.5 million at the end of 2023, with expectations for backlog improvement through the first half of 2025 [29] Market Data and Key Metrics Changes - The company is pursuing additional FUEL CHEM accounts, with a demonstration scheduled for late Q3 2025, and is in discussions to expand its chemical technology in Mexico [11][12] - The global data center power market is expected to expand significantly, with investments in emissions control solutions to address surging electricity demand [15][86] - The company is following opportunities in the municipal solid waste market driven by state-specific regulatory requirements [14] Company Strategy and Development Direction - The company aims to exceed $30 million in total revenues for 2025, with expectations that both business segments will outperform their 2024 performance [24] - The company is focusing on the commercialization of its DGI technology, with ongoing demonstrations and discussions in various end markets [22][23] - The company is exploring small acquisitions or licensing opportunities to enhance its market position [114] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism for 2025, citing a strong portfolio of APC business opportunities and a return to normalized operations in FUEL CHEM [9][14] - The company does not expect significant contributions from new EPA regulations but is monitoring the regulatory landscape for potential impacts [16][20] - Management indicated that achieving breakeven on operating income would likely require revenues closer to $33 million to $35 million [112] Other Important Information - The company ended 2024 with cash, cash equivalents, and investments totaling approximately $30 million and no long-term debt [8][36] - SG&A expenses increased to $13.8 million for 2024, reflecting higher employee-related costs [33] Q&A Session Summary Question: Is the $30 million revenue outlook for 2025 based on confidence in securing additional FUEL CHEM customers and APC orders? - Management confirmed that the APC orders are included in the outlook, but contributions from new FUEL CHEM accounts are not expected to be significant in 2025 [44] Question: What is the expected gross margin trend for 2025? - Management anticipates a return to historical gross margins of 49% to 50% for FUEL CHEM, while APC margins are expected to remain in the 35% to 38% range [54][56] Question: Are there any impacts from tariffs on the supply chain? - Management acknowledged potential impacts from steel and aluminum tariffs, which could affect costs but would be passed on to end customers [66] Question: What is the timeline for data center-related orders? - Management indicated that delivery schedules for data center orders would typically be around 40 weeks from order to delivery [104] Question: Is the company considering M&A or stock buybacks? - Management is exploring small acquisitions and licensing opportunities but believes current business momentum will drive shareholder value without the need for buybacks [114][116]