Fuel Tech Stock Price, News & Analysis

Fuel Tech, Inc. (NASDAQ: FTEK) reported financial results for Q4 2022 and the full year, achieving the highest annual revenue since 2019, totaling $26.9 million, up from $24.3 million in 2021. The company maintained a strong financial position with $32.7 million in cash and no long-term debt. The Air Pollution Control (APC) segment generated approximately $10 million in new project awards in 2022 and has a global sales pipeline of $50-$75 million. However, FUEL CHEM revenues declined by 6% year-over-year. The company expects modest revenue growth for 2023, driven by the APC segment, but anticipates a slight decline in FUEL CHEM revenues.

Fuel Tech, Inc. (NASDAQ: FTEK) has appointed William Decker as Vice President of Water and Wastewater Treatment Technologies, effective March 15, 2023. Decker, with over 30 years of experience in engineering and operations in the water treatment sector, will oversee the growth and development of Fuel Tech’s Dissolved Gas Infusion (DGI^TM) technology. He has previously held leadership roles at Aqua-Aerobic Systems and Aquionics. Decker's appointment comes as Fuel Tech aims to enhance its innovative water treatment solutions, addressing global concerns on water pollution and sustainability.

Fuel Tech, Inc. (NASDAQ: FTEK) announced multiple air pollution control contracts valued at approximately $5.2 million, awarded by customers in the US, Europe, and the Pacific Rim. Key projects include contracts for NO_xOUT^® Selective Non-Catalytic Reduction (SNCR) systems and ULTRA^® systems for natural gas-fired turbines. Deliveries are expected in the second and third quarters of 2023. The contracts are driven by stricter NO_x control regulations from the EPA, signaling growth for Fuel Tech's technologies in compliance solutions. The company’s expertise positions it well for emerging opportunities stemming from upcoming regulatory changes.

Fuel Tech, Inc. (NASDAQ: FTEK) announced it will release its financial results for Q4 and full year ended December 31, 2022 on March 7, 2023, after market close. A conference call will follow on March 8, 2023, at 10:00 am ET to discuss the results and business activities. Interested parties can participate by calling (877) 423-9820 (Domestic) or (201) 493-6749 (International). The call will also be streamed on the Company’s website. Fuel Tech specializes in advanced technologies for air pollution control and water treatment with over 1,200 installations worldwide.

Fuel Tech, Inc. (NASDAQ: FTEK) reported Q3 2022 financial results showing a 6.1% revenue increase to $8.0 million, compared to Q3 2021. The Air Pollution Control (APC) segment led this growth with revenues of $2.7 million. However, FUEL CHEM revenues declined slightly. Gross margin fell to 45.8%, impacting operating income, which decreased to $0.2 million. Net income was $0.3 million ($0.01 per share). The company expects full year 2022 APC revenues between $11-12 million and FUEL CHEM revenues between $14-15 million.