Fuel Tech Q2 revenue falls to $5.5M, net loss $(0.03)/share vs $(0.01) YoY

FUEL TECH, INC.

2023-Q2 EPS reported -$0.05 revenue$12,748,000

Revenue $5.5M vs $6.4M Q2 2022; net loss $(1.0)M ($0.03/share) versus loss $(0.4)M ($0.01/share).
APC segment revenue rose 25% to $3.4M; FUEL CHEM segment fell to $2.0M from $3.6M on customer outages.
Gross margin contracted to 37% from 42%; operating loss $(1.3)M vs $(0.5)M.
Ended quarter with $32.9M cash/investments and no debt; APC backlog $6.6M.
Management expects improved FUEL CHEM revenue in H2 and modest full-year revenue 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 the second quarter ended June 30, 2023 results: revenue $5.5 million, net income $(1.0) million, or $(0.03) per share, EPS $(0.03) per share. Guidance reaffirmed.

Period: the second quarter ended June 30, 2023
Revenue: $5.5 million
Net income: $(1.0) million, or $(0.03) per share
EPS: $(0.03) per share
Guidance: reaffirmed
Result: reported results

Exact text from the filing

revenue for full year 2023 will improve modestly from 2022, driven primarily by our APC business.” Q2 2023 Consolidated Results Overview Consolidated revenues for Q2 2023 were $5.5 million compared to $6.4 million in the second quarter ended June 30, 2022 (“Q2 2022”), reflecting higher APC revenue offset by a decline in FUEL CHEM revenue. Consolidated gross margin

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Source: SEC EDGAR

accession 0001437749-23-022533

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