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]

Core Insights - Fuel Tech, Inc. will release its financial results for Q3 2024 on November 6, 2024, after market close [1] - A conference call to discuss the results will be held on November 7, 2024, at 10:00 am ET [2] Company Overview - Fuel Tech specializes in advanced engineering processes for emissions control systems and water treatment technologies, serving utility and industrial applications [1][3] - The company is a leader 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 DGI® Dissolved Gas Infusion Systems for various water treatment applications, utilizing patented technologies [3]

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. (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 ...

WARRENVILLE, Ill., Aug. 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 second quarter ended June 30, 2024 (Q2 2024). "As expected, our performance in the second quarter was much improved," said Vincent J. Arnone, President and CEO. "Consolidated revenues rose by 29% compared to last ...

WARRENVILLE, Ill., Aug. 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 Europe and the US. These orders, which have an aggregate value of approximately $5.0 million, include the Company's first APC award for a renewable energy proj ...

Navigating the constantly shifting stock market can be intimidating. However, selecting the correct stocks to buy is essential to creating a profitable investing portfolio. Three stocks that demonstrate growth potential and stability have been chosen here, which is a crucial tactic. Assessing companies based on their financial situation, market placement and growth potential is vital to selecting the right stocks. Understanding the difference between stocks with solid fundamentals and long-term growth prosp ...