{"id":989759,"date":"2026-08-04T21:15:31","date_gmt":"2026-08-05T01:15:31","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/fuel-tech-reports-2026-second-quarter-financial-results\/"},"modified":"2026-08-04T21:15:31","modified_gmt":"2026-08-05T01:15:31","slug":"fuel-tech-reports-2026-second-quarter-financial-results","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/fuel-tech-reports-2026-second-quarter-financial-results\/","title":{"rendered":"Fuel Tech Reports 2026 Second Quarter Financial Results"},"content":{"rendered":"
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WARRENVILLE, Ill., Aug. 04, 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 second quarter ended June 30, 2026 (\u201cQ2 2026\u201d).<\/p>\n

\u201cRevenues for Q2 2026 rose 17% and reflected strong performance from our FUEL CHEM\u00ae<\/sup> and Air Pollution Control (\u201cAPC\u201d) business segments,\u201d said Vincent J. Arnone, President and CEO. \u201cWe are pleased with our performance at the midpoint of the year and remain optimistic about the outlook for each of our business segments for full year 2026. We are preparing for what has historically been a strong third quarter for FUEL CHEM and continue to expect that segment revenues will approximate last year\u2019s results. For APC, including our recently announced contract awards of $3 million, our effective backlog is approximately $17 million, which is more than double the backlog at the end of 2025. In addition, we have commenced engineering work on our recently announced large contract at a publicly-owned Midwest utility. Our business development activities across FUEL CHEM, APC and our DGI\u00ae<\/sup>\u00a0Dissolved Gas Infusion water treatment division are encouraging. As of June 30, 2026, our balance sheet included cash, cash equivalents, and investments of approximately $30 million and no long-term debt.\u201d<\/p>\n

Mr. Arnone concluded, \u201cAs announced today, Ramesh Nuggihalli will be succeeding me as President and CEO of Fuel Tech effective August 10, 2026. In getting to know Ramesh during this process, I am confident that his background, temperament, and accomplishments make him exceptionally well positioned to lead Fuel Tech into its next chapter of growth and development. Serving Fuel Tech has been one of the greatest honors of my career, and I am proud of what we have achieved. I look forward to supporting Ramesh and the entire Fuel Tech organization as a member of the Board of Directors.\u201d<\/p>\n

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\n Business Segment Performance<\/u>
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\n All comparisons are to the second quarter ended June 30, 2025 unless otherwise stated<\/em>
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Revenues generated by the APC segment rose by 11% to $2.8 million in Q2 2026, primarily\u00a0attributable\u00a0to\u00a0the\u00a0timing\u00a0of\u00a0project\u00a0execution\u00a0on\u00a0existing\u00a0contracts\u00a0and\u00a0increased\u00a0consolidated\u00a0\u00a0\u00a0 segment backlog\u00a0resulting\u00a0from\u00a0new\u00a0project\u00a0awards. Segment gross margin declined to 36% compared to 44%, due to product\u00a0and\u00a0project\u00a0mix.<\/p>\n

Consolidated APC segment backlog at June 30, 2026 was $14.3 million compared to $7.0 million at December 31, 2025. Backlog at June 30, 2026 included the recently awarded APC contracts valued at $10 million associated primarily with a utility grid enhancement project in the Midwest.<\/p>\n

FUEL CHEM segment revenue rose 21% to $3.7 million from $3.1 million, primarily due to increased operational dispatch at legacy accounts. Segment gross margin declined to 45% from 47%, the result of demonstration costs, increased freight costs and additional internal labor costs for unit maintenance.<\/p>\n

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\n Second Quarter 2026 (\u201cQ2 2026\u201d) Consolidated Results Overview<\/u>
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\n All comparisons are to the second quarter ended June 30, 2025 unless otherwise stated<\/em>
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Consolidated revenues for Q2 2026 rose 17% to $6.5 million from $5.6 million, driven by increases in both APC and FUEL CHEM segment revenues.\u00a0\u00a0\u00a0<\/p>\n

Consolidated gross margin for Q2 2026 declined to 41% of revenues from 46% of revenues, driven by declines in both APC and FUEL CHEM segment gross margins.<\/p>\n

SG&A expenses for Q2 2026 were $3.6 million, or 55.4% of revenues, compared to $3.3 million, or 60.2% of revenues, reflecting higher revenues compared to the prior year period.<\/p>\n

Interest income for Q2 2026 was $266,000 compared to $537,000. Income generated is primarily related to interest received on the held-to-maturity debt securities and money market funds. The decrease is related primarily to a one-time, $257,000 collection of the Employee Retention Credit (\u201cERC\u201d) benefit under the CARES Act in last year\u2019s second quarter.<\/p>\n

Net loss in Q2 2026 was $(1.2) 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 $(1.2) million in Q2 2026 compared to an Adjusted EBITDA loss of $(0.9) million.<\/p>\n

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\n Financial Condition <\/u>
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As of June 30, 2026, cash and cash equivalents were $7.6 million, short-term investments were $12.0 million, and long-term investments totaled $10.0 million. Stockholders\u2019 equity as of June 30, 2026 was $37.4 million, or $1.20 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, August 5, 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