Fuel Tech(FTEK) - 2024 Q3 - Quarterly Report

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]