Fuel Tech Q3 net income $80k vs $459k; new APC orders $2.0M; cash $31.3M, no debt

FUEL TECH, INC.

2024-Q3 EPS reported $0.00 revenue$19,850,000

Q3 2024 revenues $7.9M (down from $8.0M); net income $80k ($0.00 EPS) vs $459k ($0.01 EPS) YoY.
Adjusted EBITDA loss of $35k vs positive $352k in Q3 2023; gross margin 43.4% vs 45.2%.
FUEL CHEM revenue rose to $4.6M (up $0.3M); APC revenue fell to $3.2M (down $0.5M) on customer delays.
New commercial TIFI program projected $1.5-2.0M annual revenue at historical FUEL CHEM margins.
APC backlog $6.4M at Sep 30; new $2.0M APC orders announced; cash+investments $31.3M, no debt.

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