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Edge16 Oct 2026
Winner, Winner: The Chicken McNugget Story
How a 1940s breeding contest, a Cornell food scientist, and a hedge by Ray Dalio helped McDonald's turn the Chicken McNugget into a fast-food icon.
Fuel Tech
Fuel Tech (FTEK) investor relations material
Fuel Tech Q3 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2026 earnings summary4 Nov, 2026
Executive summary
Q3 revenue rose 16% YoY to $8.676M; gross margin fell to 45% from 49%, and net loss was $267K versus net income of $303K.
Nine-month revenue increased 9% to $21.241M, while operating loss widened to $3.684M from $2.256M and net loss to $2.852M from $1.125M.
APC backlog was $16.626M at Sept. 30, excluding $3.3M in recently awarded contracts; including those awards, pro forma backlog was ~ $20M.
Cash and investments totaled $27.8M with no debt; management expected available resources to fund planned operations for 12 months.
Financial highlights
Q3 operating loss was $523K versus operating income of $4K; Adjusted EBITDA was a loss of $249K versus income of $228K.
Q3 SG&A rose to $3.657M from $3.207M, including ~$175K in non-recurring CEO-transition costs; R&D was $771K versus $450K.
Nine-month SG&A was $10.967M versus $9.895M, and R&D was $1.941M versus $1.510M.
Nine-month Adjusted EBITDA loss was $2.836M versus $1.455M.
Outlook and guidance
Management expects cash, working capital and anticipated operating cash flows to fund planned operations for the next 12 months.
Of $16.626M in APC remaining performance obligations, $13.634M is expected to be recognized as revenue over the next 12 months.
Priorities include deeper core-market penetration, power infrastructure for data centers and AI, water and wastewater treatment, and selective M&A; strategic implementation will take time.
Management is targeting stable-to-improving margins and SG&A in line with Q3 and the prior year, excluding one-time charges.
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Latest events from Fuel Tech
- Growth strategy targets core business, M&A, and new markets, backed by record backlog.FTEK
H.C. Wainwright 28th Annual Global Investment Conference - Q2 2026 revenue up 17% year-over-year, net loss widens, APC backlog hits record high.FTEKQ2 2026
- APC backlog reached a multi-year high as net loss widened and liquidity remained strong.FTEKQ1 2026
- Director elections, auditor ratification, and executive pay are up for vote, with board support.FTEKProxy filing
- Record FUEL CHEM revenues and a robust APC pipeline support growth prospects for 2026.FTEKQ4 2025
- Director elections, auditor ratification, and performance-based executive pay highlight the agenda.FTEKProxy Filing
- Q3 2024 returned to profitability with FUEL CHEM growth and strong liquidity despite APC delays.FTEKQ3 2024
- Q2 2024 revenue up 29%, margins improved, and net loss narrowed as new contracts drive growth.FTEKQ2 2024
- 2025 revenues are projected to surpass $30M, with new contracts and DGI tech fueling growth.FTEKQ4 2024
Next Fuel Tech earnings date
Q4 20262 Mar, 2027
Fuel Tech
Next Fuel Tech earnings date
Q4 20262 Mar, 2027
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Frequently asked questions
Fuel Tech Inc. is a technology company that provides engineering solutions for air pollution control, energy efficiency, and water treatment. The company's core offerings include advanced engineering services, chemical technologies, and equipment designed to reduce emissions from industrial combustion units, particularly in the power generation, industrial, and municipal sectors. Its products address issues such as nitrogen oxide (NOx) reduction, particulate control, and fuel treatment, aiming to enhance environmental compliance and operational efficiency for its clients. Fuel Tech also offers water treatment technologies for industrial and utility applications. The company is headquartered in Warrenville, Illinois, and its shares are listed on the NASDAQ.