The following is a summary of the Fuel Tech, Inc (FTEK) Q3 2024 Earnings Call Transcript:

Financial Performance:

• Fuel Tech reported third-quarter revenues of $7.9 million, slightly down from $8 million in the previous year.

• Consolidated gross margin decreased to 43% from 45% due to a decline in the APC segment margin.

• Net income for the quarter was reported at $80,000, a decrease compared to $459,000 in the same period last year.

• The company expects total revenues for 2024 to be in the range of $25 million to $26 million.

Business Progress:

• Fuel Tech's FUEL CHEM segment saw an 8% increase in revenue due to returning customer accounts and a new commercial account which is expected to generate annualized revenues of approximately $1.5 million to $2 million.

• The company announced $2 million in new ATC orders and expects an additional $2 million to $4 million by early 2025.

• Demonstrations for the DGI technology are proceeding, with a new agreement for an aquaculture application and ongoing discussions in other sectors.

Opportunities:

• The ongoing development and demonstration of DGI technology in various sectors presents new commercial opportunities.

• Regulatory changes and governmental focus on environmental policies offer potential growth avenues, especially in markets like Mexico.

• The company's diversified approach in APC and FUEL CHEM technologies supports various industrial applications, providing resilience and potential growth.

Risks:

• Project delays and the timing of new project awards have impacted APC business revenue and could affect future performance.

• Regulatory uncertainties, especially with changes in administration and the potential impact on environmental policies, could influence market conditions and business strategy.

More details: Fuel Tech IR

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