Financial Data and Key Metrics Changes - The company reported consolidated revenues of $7.9 million for Q3 2024, a slight decrease from $8 million in the same period last year [20] - The net income for the quarter was $80,000 or $0.00 per share, compared to $459,000 or $0.01 per share in the same period last year [26] - Consolidated gross margin decreased to 43% from 45% year-over-year, primarily due to a decline in the APC segment gross margin [20][21] - Operating loss was $179,000 compared to operating income of $133,000 in the same period last year [25] Business Line Data and Key Metrics Changes - FUEL CHEM segment revenue increased to $4.6 million from $4.3 million year-over-year, reflecting contributions from returning customers and a new coal-fired account [20][10] - APC segment revenue declined to $3.2 million from $3.7 million, primarily due to timing of project execution [20][12] - FUEL CHEM's gross margin remained flat at 49%, while APC segment gross margin decreased to 35% from 40% [21][20] Market Data and Key Metrics Changes - The company ended the quarter with cash, cash equivalents, and investments of over $31 million and no debt [9][27] - Consolidated APC segment backlog was $6.4 million, down from $7.5 million at the end of the previous year [22] Company Strategy and Development Direction - The company is focusing on the commercialization of its DGI technology, with ongoing discussions for demonstrations in multiple end markets [9][16] - The company expects total revenues for 2024 to be in the range of $25 million to $26 million, indicating a lower-than-expected Q4 revenue due to project execution delays [18][39] - The company is optimistic about the potential for additional APC orders, expecting $2 million to $4 million in new contracts by early 2025 [12][36] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the resilience and growth potential of the FUEL CHEM segment and the outlook for APC as they move into 2025 [18] - The management noted that the regulatory environment is uncertain, particularly regarding the Good Neighbor rule, which could impact future project opportunities [13][50] - The company is encouraged by the new administration's environmental policies in Mexico, which may provide opportunities for their chemical technology [62] Other Important Information - SG&A expenses increased to $3.2 million from $3 million year-over-year, reflecting higher employee-related expenditures [23] - Research and development expenses decreased by 30% to $361,000, focusing on new technologies for water and wastewater treatment [24] Q&A Session Summary Question: Timeline for EPA review of the Good Neighbor provision - Management indicated that predicting a specific timeline is difficult due to ongoing changes in administration and regulatory reviews [29] Question: Revenue impact from the Good Neighbor provision - Management clarified that potential project opportunities from the Good Neighbor provision would be additional upside and would not impact existing revenue [31] Question: Incremental revenue from new coal-fired unit - Management confirmed that the expected revenue from the new coal-fired unit is incremental and not part of existing accounts [32] Question: DGI demonstration timeline - The DGI demonstration at the fish hatchery is expected to commence in April 2025 and last 4 to 6 months [37] Question: Fourth quarter revenue outlook - Management acknowledged that the outlook for Q4 indicates lower revenue due to project execution delays [39] Question: Mexico opportunity and discussions with the new administration - Management reported increased discussions with the new administration in Mexico regarding environmental policies and potential opportunities for their technology [62]

Financial Performance - Revenues for Q3 2024 were $7,851 million, a decrease of $137 million or 2% compared to Q3 2023[87] - The FUEL CHEM segment generated revenues of $4,627 million for Q3 2024, an increase of $350 million or 8% from Q3 2023[89] - The APC segment revenues decreased to $3,224 million for Q3 2024, down $487 million or 13% from the prior year[88] - Consolidated gross margin for Q3 2024 was 43%, a decrease from 45% in Q3 2023[90] Backlog and Capital Expenditures - Consolidated APC backlog as of September 30, 2024, was $6,444 million, down from $7,458 million at the end of 2023[88] - The company anticipates additional capital expenditures in 2024 for the DGI business and maintenance of equipment[106] Expenses - Selling, general and administrative expenses (SG&A) for Q3 2024 were $3,225 million, an increase of $259 million or 9% compared to Q3 2023[92] - Research and development expenses for Q3 2024 were $361 million, down from $513 million in Q3 2023[95] Cash Position - Cash and cash equivalents as of September 30, 2024, totaled $12,274 million, with working capital of $25,602 million[99] Litigation and Risk Factors - The company is not currently involved in any litigation that would materially affect its business or financial conditions[114] - Risk factors outlined in the Annual Report on Form 10-K for the fiscal year ended December 31, 2023, have not materially changed[114] Future Investments - The company expects to continue investing in new technologies for water and wastewater treatment markets[84]

Revenue Performance - Consolidated revenues for Q3 2024 declined to $7.9 million from $8.0 million in Q3 2023, reflecting higher FUEL CHEM revenue offset by a decrease in APC revenue[4] - FUEL CHEM segment revenue rose to $4.6 million from $4.3 million in Q3 2023, with a steady gross margin of 49%[7] - APC segment revenue declined to $3.2 million from $3.7 million in Q3 2023, with gross margin decreasing to 35.0% from 40.3%[7] - Revenues for the three months ended September 30, 2024, were $7,851,000, a decrease of 1.7% from $7,988,000 for the same period in 2023[14] - Revenues from external customers for the nine months ended September 30, 2024, were $19,850,000, a decrease of 4.3% from $20,736,000 for the same period in 2023[14] Net Income and Loss - 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[6] - Net income for the three months ended September 30, 2024, was $80,000, compared to a net income of $459,000 for the same period in 2023[15] - Operating loss for the nine months ended September 30, 2024, was $(2,586,000), compared to an operating loss of $(1,857,000) for the same period in 2023[14] Expenses - SG&A expenses increased to $3.2 million from $3.0 million in Q3 2023, rising as a percentage of revenues to 41.1% from 37.1%[5] - The company incurred research and development expenses of $361,000 for the three months ended September 30, 2024, compared to $513,000 for the same period in 2023[14] Cash and Investments - Cash and investments totaled $31.3 million at September 30, 2024, with no debt reported[2] - Cash and cash equivalents at the end of the period were $12,274,000, down from $13,483,000 at the end of the previous year[16] - The company reported a net cash used in operating activities of $(1,785,000) for the nine months ended September 30, 2024, compared to $391,000 for the same period in 2023[16] Gross Margin - Consolidated gross margin for Q3 2024 declined to 43.4% from 45.2% in Q3 2023, primarily due to lower APC gross margin[4] - Gross margin for the nine months ended September 30, 2024, was $8,388,000, down from $8,413,000 for the same period in 2023[19] Backlog and Future Potential - Consolidated APC segment backlog at September 30, 2024 was $6.4 million, down from $7.5 million at December 31, 2023[6] - The annual revenue potential from a new commercial contract for TIFI® technology is projected to be approximately $1.5 to $2.0 million[2] Adjusted EBITDA - Adjusted EBITDA loss was $(35,000) compared to Adjusted EBITDA of $352,000 in Q3 2023[8] - The Company provided Adjusted EBITDA as a measure of financial performance, defined as net income before interest, taxes, depreciation, amortization, stock compensation, and employee retention credit gains[24] - Adjusted EBITDA is intended to enhance investors' understanding of the Company's financial performance and cash flow generation capabilities[25] - Non-GAAP financial measures like Adjusted EBITDA are commonly used by investors and analysts to evaluate Company performance and determine stock valuation[25] Comprehensive Income - The company reported a comprehensive income of $186,000 for the three months ended September 30, 2024, compared to $337,000 for the same period in 2023[15] Total Assets - Total assets as of September 30, 2024, were $50,117,000, slightly down from $50,388,000 as of December 31, 2023[22]

Core Insights - Fuel Tech, Inc. reported a return to profitable operations in Q3 2024, with a focus on new customer relationships and balancing expense discipline with targeted investments in new technologies [2][4] - The company had a strong financial position with $31.3 million in cash and investments and no debt as of September 30, 2024 [2][9] - The FUEL CHEM® business segment showed improved performance, while the Air Pollution Control (APC) segment experienced a decline in revenue due to customer-driven delays [3][7] Financial Performance - Consolidated revenues for Q3 2024 decreased to $7.9 million from $8.0 million in Q3 2023, with FUEL CHEM revenue increasing and APC revenue declining [4][7] - Consolidated gross margin for Q3 2024 was 43.4%, down from 45.2% in Q3 2023, primarily due to lower APC gross margin [4] - Net income for 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 [6][15] Segment Performance - APC segment revenue fell to $3.2 million from $3.7 million in Q3 2023, with gross margin decreasing to 35.0% from 40.3% [6][7] - FUEL CHEM segment revenue rose to $4.6 million from $4.3 million in Q3 2023, maintaining a gross margin of 49% [7][19] - The company announced approximately $2 million in new APC orders and is pursuing additional opportunities for its technologies [3][6] Cash Flow and Investments - Cash and cash equivalents at the end of Q3 2024 were $12.3 million, with short-term investments of $8.2 million and long-term investments totaling $10.9 million [9][18] - The company reported an Adjusted EBITDA loss of $(35,000) compared to an Adjusted EBITDA of $352,000 in Q3 2023 [8][24] Future Outlook - Fuel Tech is set to commence a new commercial program for its TIFI® technology, with projected annual revenue potential of approximately $1.5 to $2.0 million [2][3] - The company plans to demonstrate its DGITM technology at various sites, including a food processing plant and a municipal wastewater treatment facility [3][6]

WARRENVILLE, Ill., Nov. 06, 2024 (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, Europe and Southeast Asia. These orders have an aggregate value of approximately $2.0 million. An order was received from a repeat domestic customer t ...

Core Insights - Fuel Tech, Inc. has announced an extended demonstration of its DGI® Dissolved Gas Infusion technology at a fish hatchery in the Western US, aimed at evaluating its benefits in providing consistent levels of dissolved oxygen for gamefish [1][2] - The demonstration will follow defined test protocols over a grow cycle estimated at four to six months, with equipment deliveries expected in the first quarter of 2025 [2] Company Overview - Fuel Tech specializes in advanced engineering processes for emissions control systems and water treatment technologies, focusing on utility and industrial applications [1][3] - The company is recognized for its nitrogen oxide (NOx) reduction and particulate control technologies, with over 1,300 installations worldwide [3] - Fuel Tech's water treatment technologies, including the DGI® systems, utilize patented methods to deliver supersaturated oxygen solutions for various applications in the water and wastewater industries [3]

WARRENVILLE, Ill., Oct. 28, 2024 (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 that it will issue its financial results for the third quarter ended September 30, 2024 on Wednesday, November 6, 2024 after the close of the stock market. Management will host a conference call on Thursday, November 7, 2024 at 10:00 am ET / 9 ...

WARRENVILLE, Ill., Sept. 19, 2024 (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 that it will be exhibiting its DGI® Dissolved Gas Infusion technology at the Water Environment Federation Technical Exhibition and Conference ("WEFTEC") in New Orleans next month. Bringing together industry experts and thought leaders from ar ...

Fuel Tech, Inc. (NASDAQ:FTEK) Q2 2024 Earnings Call August 7, 2024 10:00 AM ET Company Participants Devin Sullivan - Managing Director of The Equity Group Vincent Arnone - Chairman, President and Chief Executive Officer Ellen Albrecht - Chief Financial Officer Conference Call Participants Amit Dayal - H.C. Wainwright William Bremer - Vanquish Capital Markets Marc Silk - Silk Investment Operator Greetings, and welcome to the Fuel Tech Inc. Second Quarter 2024 Financial Results Conference Call. [Operator Inst ...

Fuel Tech, Inc. (FTEK) came out with a quarterly loss of $0.01 per share versus the Zacks Consensus Estimate of a loss of $0.02. This compares to loss of $0.03 per share a year ago. These figures are adjusted for nonrecurring items. This quarterly report represents an earnings surprise of 50%. A quarter ago, it was expected that this company would post a loss of $0.01 per share when it actually produced earnings of $0.01, delivering a surprise of 200%. Over the last four quarters, the company has surpassed ...