{"id":958512,"date":"2026-05-05T17:42:13","date_gmt":"2026-05-05T21:42:13","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/fuel-tech-reports-2026-first-quarter-financial-results\/"},"modified":"2026-05-05T17:42:13","modified_gmt":"2026-05-05T21:42:13","slug":"fuel-tech-reports-2026-first-quarter-financial-results","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/fuel-tech-reports-2026-first-quarter-financial-results\/","title":{"rendered":"Fuel Tech Reports 2026 First Quarter Financial Results"},"content":{"rendered":"
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WARRENVILLE, Ill., May 05, 2026 (GLOBE NEWSWIRE) — Fuel Tech, Inc. (NASDAQ: FTEK)<\/strong>, a technology company using advanced engineering processes to provide emissions control systems and water treatment technologies in utility and industrial applications, today reported financial results for the first quarter ended March 31, 2026 (\u201cQ1 2026\u201d).<\/p>\n

\u201cOur results for Q1 2026 reflected higher revenues for our Air Pollution Control (\u201cAPC\u201d) business segment, another strong quarter from FUEL CHEM\u00ae<\/sup>, and continuing progress for our DGI\u00ae<\/sup>\u00a0Dissolved Gas Infusion (\u201cDGI\u201d) division,\u201d said Vincent J. Arnone, President and CEO. \u201cAt March 31, 2026, our balance sheet included cash and equivalents of $30.6 million and no long-term debt.<\/p>\n

\u201cWe recently announced a series of APC awards valued at approximately $10 million with utility and industrial customers, anchored by a contract that calls for the integration of our Selective Catalytic Reduction (\u201cSCR\u201d) pollution control technology with two new natural gas-fired turbines for a large, publicly-owned Midwest municipal utility. This project will enable the utility to better meet the region\u2019s rapidly growing electricity demand driven by population growth and the necessity to support commercial activities related to manufacturing expansion and data center projects. Engineering work is expected to commence in the current second quarter.\u201d \u00a0\u00a0<\/p>\n

Mr. Arnone concluded, \u201cWe remain optimistic about the outlook for each of our businesses for full year 2026. On a proforma basis, including these recent awards, our APC backlog is at its highest level since 2018. We remain actively engaged with our supply chain partners and engineering colleagues in the pursuit of additional APC award opportunities. We expect another solid year for our FUEL CHEM business segment. For our DGI division, the extended demonstration of our high-efficiency water treatment system at a fish hatchery in the western U.S. is progressing well and generating positive results. This demonstration will conclude in the second quarter of 2026.\u201d\u00a0\u00a0<\/p>\n

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\n Business Segment Performance<\/u>
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\n All comparisons are to the first quarter ended March 31, 2025 unless otherwise stated<\/em>
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\n .<\/strong>\n <\/p>\n

Revenues generated by the APC segment rose by 23% to $1.6 million in Q1 2026, driven primarily by project timing and ancillary business activity. Segment gross margin expanded to 38.3% compared to 32.6%, due largely to product and project mix.<\/p>\n

Consolidated APC segment backlog at March 31, 2026 was $6.9 million compared to $7.0 million at December 31, 2025. Backlog at March 31, 2026 did not include the recently awarded APC contracts valued at $10 million.<\/p>\n

FUEL CHEM segment revenue declined to $4.5 million from $5.1 million, primarily driven by seasonal maintenance outages and dispatch-related decreases in demand. Segment gross margin declined to 45.3% from 49.9%, the result of lower sales offset by a relatively flat expense profile.<\/p>\n

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\n First Quarter 2026 (\u201cQ1 2026\u201d) Consolidated Results Overview<\/u>
\n <\/strong>
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\n All comparisons are to the first quarter ended March 31, 2025 unless otherwise stated<\/em>
\n <\/strong>
\n .<\/strong>\n <\/p>\n

Consolidated revenues for Q1 2026 declined 5% to $6.1 million from $6.4 million, with higher APC revenue offset by lower FUEL CHEM revenues.\u00a0\u00a0\u00a0<\/p>\n

Consolidated gross margin for Q1 2026 declined to 43.5% of revenues from 46.4% of revenues, with higher APC gross margin offset by a decline in FUEL CHEM gross margin.<\/p>\n

SG&A expenses for Q1 2026 were $3.7 million, or 61% of revenues, compared to $3.3 million, or 52% of revenues, reflecting higher employee-related expenses and increases in professional fees and administrative expenses.<\/p>\n

Interest income for Q1 2026 was $240,000 compared to $279,000. Income generated is primarily related to interest received on the held-to-maturity debt securities and money market funds.<\/p>\n

Net loss in Q1 2026 was $(1.4) million, or $(0.04) per share, compared to net loss of $(0.7) million, or $(0.02) per share.<\/p>\n

Adjusted EBITDA loss was $(1.3) million in Q1 2026 compared to an Adjusted EBITDA loss of $(0.7) million.<\/p>\n

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\n Financial Condition <\/u>
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At March 31, 2026, cash and cash equivalents were $9.1 million, short-term investments were $12.5 million, and long-term investments totaled $9.0 million. Stockholders\u2019 equity at March 31, 2026 was $38.6 million, or $1.24 per share, and the Company had no debt.<\/p>\n

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\n Conference Call<\/u>
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Management will host a conference call on Wednesday, May 6, 2026 at 10:00 am ET \/ 9:00 am CT to discuss the results and business activities. Interested parties may participate in the call by dialing:<\/p>\n