Core Insights - Fuel Tech, Inc. has received air pollution control (APC) orders valued at approximately $3.2 million from customers in the US, Europe, and Southeast Asia [1] Group 1: Orders and Customers - A repeat domestic customer has placed an order for a Selective Catalytic Reduction (SCR) system and an aqueous ammonia reagent delivery system for a new production plant in the Western US, marking the sixth order from this customer in two decades, with expected deliveries in Q3 2026 [2] - An existing customer in Europe has ordered an aqueous ammonia delivery and injection system for renewable energy facilities aimed at supporting green hydrogen production, with deliveries also expected in Q3 2026 [3] - A new global refinery customer in Southeast Asia has ordered an SCR system using anhydrous ammonia, with deliveries expected in Q4 2025 [4] Group 2: Company Overview and Technology - Fuel Tech specializes in advanced engineering processes for emissions control and water treatment technologies, enabling cost-effective and environmentally sustainable operations [5] - The company is a leader in nitrogen oxide (NOx) reduction and particulate control technologies, with over 1,300 installations worldwide [5] - Fuel Tech's FUEL CHEM® technology enhances combustion unit efficiency and environmental status by managing slagging, fouling, corrosion, and opacity [5] - The company also offers DGI® Dissolved Gas Infusion Systems for various applications in water and wastewater industries, utilizing patented technologies for effective treatment [5]

Core Insights - Fuel Tech, Inc. reported a decline in consolidated revenues for Q2 2025 to $5.6 million from $7.0 million in Q2 2024, primarily due to lower revenues in the Air Pollution Control (APC) segment [6][8] - The company anticipates improved performance in the second half of 2025, driven by ongoing developments in its business segments and new contract opportunities, particularly in the APC segment related to data centers [2][3] - The company maintains a strong financial position with nearly $31 million in cash and no long-term debt as of June 30, 2025 [2][10] Business Segment Performance - The FUEL CHEM segment's revenue remained flat at $3.1 million, but gross margin improved to 46.8% from 45.5% due to increased sales activity [9] - APC segment revenue decreased to $2.5 million from $3.9 million, attributed to the timing of project execution, but the company expects to secure additional contracts worth between $2.5 million and $3.0 million soon [4][8] - The company is set to demonstrate its TIFI Targeted In-Furnace Injection technology in Q4 2025, which is expected to enhance its client base [3] Financial Overview - Consolidated gross margin for Q2 2025 increased to 45.5% from 41.9% in Q2 2024, reflecting improvements in both APC and FUEL CHEM segments [6] - SG&A expenses rose slightly to $3.3 million, leading to an increase in SG&A as a percentage of revenues to 60.2% from 46.1% [7] - The net loss for Q2 2025 was $(689,000), or $(0.02) per share, compared to a net loss of $(421,000), or $(0.02) per share in Q2 2024 [7][20] Cash and Investments - As of June 30, 2025, the company had cash and cash equivalents of $10.6 million, short-term investments of $12.4 million, and long-term investments totaling $7.9 million [10] - Stockholders' equity at the same date was $40.6 million, or $1.32 per share, with no debt reported [10][18] Geographic Performance - In Q2 2025, revenues from the United States were $4.4 million, while foreign revenues were $1.1 million, contributing to total revenues of $5.6 million [33] - For the six months ended June 30, 2025, total revenues were $11.9 million, slightly down from $12.0 million in the same period of 2024 [33]

Financial Performance - Hawkins' 2025 revenue reached $9744 million[10] - The company's 5-year EPS CAGR is 25%[10] - Net income in fiscal year 2025 was $843 million, with a 24% CAGR[67] - Adjusted EBITDA in fiscal year 2025 was $1675 million, with a 21% CAGR[69] - Diluted EPS in fiscal year 2025 was $403, with a 25% CAGR[74] - Q1 Fiscal Year 2026 revenue reached a record $2933 million, a 15% increase year-over-year[81] - Q1 Fiscal Year 2026 Adjusted EBITDA reached a record $574 million, a 13% increase year-over-year[81] Business Segments - Water Treatment accounted for 46% of revenue, totaling $4465 million[15] - Food & Health Sciences accounted for 33% of revenue, totaling $3225 million[15] - Industrial Solutions accounted for 21% of revenue, totaling $2054 million[15] Capital Allocation - The company has consistently returned capital to shareholders through dividends and share repurchases[32] - Hawkins has a track record of 40 consecutive years of cash dividends[33]