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Fuel Tech (FTEK)
NASDAQ:FTEK
Earnings Data
Report Date
May 12, 2026After Close (Confirmed)
Period Ending
2026 (Q1)Consensus EPS Forecast
0Last Year’s EPS
-0.02Same Quarter Last Year
Based on 0 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call conveyed meaningful progress across multiple fronts: revenue growth (6% FY, 37% Q4), margin expansion, a strong cash position (~$31.9M) with no debt, a resurgent FUEL CHEM business (+28% FY) and an encouraging APC backlog increase and strategic Walco acquisition. Management highlighted an extensive data center pipeline and advancing DGI demonstrations, both of which present sizable upside but carry timing and visibility risk because Fuel Tech typically acts as a subcontractor. Near-term challenges include an annual APC revenue decline due to project timing, ongoing operating losses (net loss and widened adjusted EBITDA loss), and regulatory/legal uncertainty. Overall, the positive operational and balance-sheet metrics and the large pipeline prospects outweigh the remaining profitability and timing risks, though successful conversion of data center and DGI opportunities will be critical to realize the upside.Company Guidance
Interest Income and Financial Discipline
Company earned $1.4M of interest income for 2025 (Q4 interest income $288k) from invested cash and investments, helping liquidity and partially offsetting operating losses.
Improved Consolidated Revenue and Strong Q4 Growth
Full year 2025 consolidated revenue rose 6% to $26.7M (in line with guidance). Fourth quarter consolidated revenue increased 37% year-over-year to $7.2M (from $5.3M), reflecting growth across APC and FUEL CHEM segments.
FUEL CHEM Segment Surge
Full year FUEL CHEM revenue increased 28% to $17.8M, exceeding guidance. Q4 FUEL CHEM revenue rose 37% to $4.9M (from $3.5M). Management highlighted strong performance from legacy units and a six-month commercial demonstration that could annualize to ~$2.5M–$3.0M if converted.
Margin Expansion
Consolidated gross margin improved to 46% for 2025 from 42% in 2024. Q4 consolidated gross margin rose to 45% from 42% YoY. APC Q4 gross margin expanded to 42% from 36% and FUEL CHEM Q4 gross margin increased to 46% from 45%.
Strong Balance Sheet and Cash Generation
Year-end cash, cash equivalents, and investments totaled $31.9M (nearly $32M) with no debt. Net cash provided by operating activities was $3.0M in 2025 (versus a use of $2.8M prior year). Cash per share was $1.03 and working capital was $25.7M ($0.83 per share).
APC Backlog Growth and Strategic Acquisition
APC consolidated backlog increased to $7.0M at year-end 2025 from $6.2M at year-end 2024 (≈12.9% increase). Management completed a small strategic acquisition of Walco IP/assets, enhancing technology portfolio and driving inquiry momentum.
Large Data Center Pipeline Opportunity
Management reports participation with >10 data center integrators/OEMs. Project sizes range from 2–5 units up to 30–40 NOx reduction units with pricing per unit predominantly $1.0M–$2.5M. Pollution-control scope values were described as up to ~$75M–$100M per project (noting the pollution-control portion is a small fraction of total AI infrastructure spend). Earliest expected award conversions: Q2 2026 for some opportunities.
DGI Commercial Progress
Dissolved Gas Infusion demonstrations are delivering positive results: fish hatchery demo on track to conclude in Q2 2026; municipal wastewater trial converted to a six-month rental (rental revenue ~$10k/month). Management expects a first commercial DGI contract in 2026.
FTEK Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
FTEK Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Mar 03, 2026 | $1.38 | $1.24 | -10.14% |
Nov 04, 2025 | $2.52 | $2.20 | -12.70% |
Aug 05, 2025 | $2.96 | $2.94 | -0.68% |
May 12, 2025 | $0.96 | $1.07 | +11.81% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does Fuel Tech (FTEK) report earnings?
Fuel Tech (FTEK) is schdueled to report earning on May 12, 2026, After Close (Confirmed).
What is Fuel Tech (FTEK) earnings time?
Fuel Tech (FTEK) earnings time is at May 12, 2026, After Close (Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is FTEK EPS forecast?
FTEK EPS forecast for the fiscal quarter 2026 (Q1) is 0.