Fuel Tech Reports 2026 Third Quarter Financial Results; Outlines Framework for Sustainable Growth and Value Creation
Key Highlights
- ➤Q3 revenue $8.7 million, up 16% year over year
- ➤Net loss $(267,000), versus $303,000 net income year over year
- ➤APC backlog $16.6 million, up from $7.0 million at December 31
- ➤Recently awarded APC contracts valued at $3.3 million excluded from backlog
- ➤Cash, investments $27.8 million; company had no debt
Expert Statements
Ramesh Nuggihalli, President and Chief Executive Officer of Fuel Tech
“Higher third quarter sales and continued backlog growth reflect the demand for our services and our progress in converting promising opportunities into new awards.”
Ramesh Nuggihalli, President and Chief Executive Officer of Fuel Tech
“This momentum underscores the relevance of our technology portfolio to customers’ evolving environmental and operational priorities and improves our visibility into future performance. Our strong financial position provides the resources and flexibility to drive long-term our growth.”
Ramesh Nuggihalli, President and Chief Executive Officer of Fuel Tech
“Since joining Fuel Tech in August, I have developed a strong appreciation for the quality of our people, the breadth and value of our technology portfolio, our global reach and the attractive markets we serve.”
Ramesh Nuggihalli, President and Chief Executive Officer of Fuel Tech
“Our focus now is to convert these strengths into sustainable, above-market growth.”
Ramesh Nuggihalli, President and Chief Executive Officer of Fuel Tech
“We intend to pursue organic growth initiatives by deepening Fuel Tech’s presence in our core markets and pursuing burgeoning power infrastructure opportunities that support data center and AI infrastructure construction, as well as water and wastewater treatment.”
Ramesh Nuggihalli, President and Chief Executive Officer of Fuel Tech
“We are also focused on select M&A through a holistic, bottom-up strategy which identifies opportunities that strengthen our product portfolio and expand our channel presence.”
Ramesh Nuggihalli, President and Chief Executive Officer of Fuel Tech
“This is an active and ongoing process that will take time to fully implement, but the direction is clear.”
Ramesh Nuggihalli, President and Chief Executive Officer of Fuel Tech
“We are aligning our resources behind the opportunities where Fuel Tech can create the greatest value while establishing the strategic priorities and operating disciplines needed to drive more consistent financial performance and sustainable long-term value for our shareholders.”
WARRENVILLE, Ill., Nov. 03, 2026 (GLOBE NEWSWIRE) -- Fuel Tech, Inc. (NASDAQ: FTEK), a technology company using advanced engineering processes to provide emissions control systems and water treatment technologies in utility and industrial applications, today reported financial results for the third quarter ended September 30, 2026 and outlined a framework designed to support sustainable growth and value creation.
“Higher third quarter sales and continued backlog growth reflect the demand for our services and our progress in converting promising opportunities into new awards,” said Ramesh Nuggihalli, President and Chief Executive Officer. “This momentum underscores the relevance of our technology portfolio to customers’ evolving environmental and operational priorities and improves our visibility into future performance. Our strong financial position provides the resources and flexibility to drive long-term our growth.”
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