Fuel Tech Inc ( (FTEK) ) has released its Q4 earnings. Here is a breakdown of the information Fuel Tech Inc presented to its investors.
Fuel Tech Inc., a technology company specializing in emissions control systems and water treatment technologies, has released its financial results for the fourth quarter and full year of 2024. The company operates primarily in the utility and industrial sectors, offering advanced engineering solutions for environmental sustainability.
In its latest earnings report, Fuel Tech reported revenues at the lower end of its guidance, citing delayed project executions and timing of Air Pollution Control (APC) awards. Despite these challenges, the company maintained a strong financial position with $30 million in cash and investments and no long-term debt.
Key financial metrics indicate a decline in consolidated revenues to $25.1 million for 2024, down from $27.1 million in 2023, primarily due to reduced APC segment revenues. The FUEL CHEM segment showed resilience with steady revenues, and the company anticipates improved performance in 2025. Net loss for the year was $1.9 million, with an adjusted EBITDA loss of $2.2 million.
Fuel Tech is optimistic about future growth, with new APC contracts expected and opportunities in the data center sector. The company is also advancing its Dissolved Gas Infusion (DGI) technology, planning demonstrations in aquaculture and aiming for commercial revenues in 2025.
Looking ahead, Fuel Tech’s management remains focused on leveraging new opportunities and enhancing its technological offerings to drive growth and improve financial performance in the coming year.