Fuel Tech Q3 revenue up 6.1% to $8.0M; net income falls to $0.3M

FUEL TECH, INC.

2022-Q3 EPS reported -$0.03 revenue$19,920,000

Revenue $8.0M vs $7.6M (+6.1%); net income $0.3M ($0.01 EPS) vs $0.7M ($0.02 EPS).
APC segment revenue up to $2.7M from $1.9M; FY2022 APC guidance $11-12M.
FUEL CHEM segment revenue down to $5.3M from $5.6M; FY2022 guidance raised to $14-15M.
Adjusted EBITDA $0.4M vs $0.9M; cash $24.1M, no debt, backlog $8.8M.
Pursuing DGI technology commercialization; seeking executive to lead growth.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

FUEL TECH, INC. reported third quarter ended September 30, 2022 results: revenue $8.0 million, net income $0.3 million, EPS $0.01 per share. Guidance raised.

Period: third quarter ended September 30, 2022
Revenue: $8.0 million
Net income: $0.3 million
EPS: $0.01 per share
Guidance: raised
Result: reported results

Exact text from the filing

Consolidated revenues for the third quarter ended September 30, 2022 (“Q3 2022”) rose to $8.0 million from $7.6 million in the third quarter of 2021

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Source: SEC EDGAR

accession 0001437749-22-026375

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