Fuel Tech Q4 2022 revenue $7.0M, net loss $0.4M; full year revenue $26.9M, net loss $1.4M

FUEL TECH, INC.

Q4 2022 revenue $7.0M (up 7.7% YoY); net loss $0.4M ($0.01/sh) vs $0.2M loss in Q4 2021.
FY 2022 revenue $26.9M (up 10.7% YoY); net loss $1.4M ($0.05/sh) vs net income $0.1M in 2021.
Cash and investments $32.7M, no debt; APC backlog $8.2M at Dec 31, 2022.
Guides 2023 revenue modestly higher, driven by APC segment; FUEL CHEM expected to decline slightly.
Hired Bill Decker as VP Water & Wastewater Treatment Technologies to lead DGI commercialization.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

FUEL TECH, INC. reported fourth quarter ended December 31, 2022 results: revenue $7.0 million, net income $(0.4) million, or $(0.01) per share, EPS $(0.01) per share.

Period: fourth quarter ended December 31, 2022
Revenue: $7.0 million
Net income: $(0.4) million, or $(0.01) per share
EPS: $(0.01) per share
Result: reported results

Exact text from the filing

Consolidated revenues for the fourth quarter ended December 31, 2022 (“Q4 2022”) rose to $7.0 million from $6.5 million in the fourth quarter ended December 31, 2021 (“Q4 2021”)

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

FUEL TECH, INC. reported full year ended December 31, 2022 results: revenue $26.9 million, net income $(1.4) million, or $(0.05) per diluted share, EPS $(0.05) per diluted share. Guidance reaffirmed.

Period: full year ended December 31, 2022
Revenue: $26.9 million
Net income: $(1.4) million, or $(0.05) per diluted share
EPS: $(0.05) per diluted share
Guidance: reaffirmed
Result: reported results

Exact text from the filing

Consolidated revenues for 2022 rose to $26.9 million from $24.3 million, reflecting a 54% increase in APC revenues offset by a 6% decline in FUEL CHEM revenues.

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FUEL TECH, INC. filing history →

Source: SEC EDGAR

accession 0001437749-23-005674

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