The widening loss and revenue decline outweigh the positive APC backlog update. Watch for conversion of the $10M APC awards into revenue in coming quarters and any SG&A control measures. The stock's small cap ($51M) amplifies sensitivity to earnings misses.
Price Chart
Executive Summary
Fuel Tech reported Q1 2026 revenue of $6.1M (down 5% YoY) and a net loss of $(1.4M) or $(0.04) per share, versus a consensus estimate of $0.00. The wider loss and revenue decline, driven by lower FUEL CHEM segment sales and higher SG&A costs, signal deteriorating fundamentals.
Key Financial Metrics
Key Facts
- Q1 2026 revenue $6.1M, down 5% YoY from $6.4M
- Net loss widened to $1.4M ($0.04/sh) from $0.7M ($0.02/sh) in prior year
- EPS of -$0.04 missed consensus estimate of $0.00
- SG&A expenses rose to 61% of revenue from 52%
- APC segment revenue up 23% but FUEL CHEM fell 12%
- APC backlog $6.9M at quarter end, excluding $10M in recent awards
- No debt, cash and investments of $30.6M
Financial Impact
Net loss doubled to $1.4M and EPS missed consensus by $0.04; revenue declined 5% YoY
Risk Factors
- Continued revenue decline in FUEL CHEM segment
- SG&A expense growth outpacing revenue
- Dependence on project timing for APC revenue recognition
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001437749-26-014902 |
| Document: ftek20260504_8k.htm | 0001437749-26-014902 |
| Document: 0001437749-26-014902-index-headers.html | 0001437749-26-014902 |
| Document: 0001437749-26-014902-index.html | 0001437749-26-014902 |
| Document: 0001437749-26-014902.txt | 0001437749-26-014902 |
| 8-K Data (Synthetic) | 0001437749-26-014902 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 26, 2026 1d ago | Press Release | $1.37 | awaiting T+5 | — | $1.48 (+8.03%) |
Oct 22, 2026 4d ago | Press Release | $1.35 | awaiting T+5 | — | $1.48 (+9.63%) |
Oct 7, 2026 19d ago | SC 13G/A | $1.66 $1.42 | ▲ +14.46% | ▲ +14.18% | $1.48 (+10.84%) |
Sep 2, 2026 7w ago | 8-K | $1.43 $1.73 | ▲ +20.98% | ▲ +22.13% | $1.48 (+3.50%) |
Aug 4, 2026 11w ago | 8-K | $1.45 $1.47 | ▲ +1.38% | ▲ +1.03% | $1.48 (+2.07%) |
Aug 4, 2026 11w ago | 8-K | $1.45 $1.47 | ▲ +1.38% | ▲ +1.03% | $1.48 (+2.07%) |
Aug 4, 2026 11w ago | Press Release | $1.45 $1.47 | ▲ +1.38% | ▲ +1.03% | $1.48 (+2.07%) |
May 5, 2026 24w ago | 8-K | $1.38 $1.46 | ▼ −5.80% | ▼ −4.67% | $1.48 (−7.25%) |
Apr 23, 2026 26w ago | Press Release | $1.35 $1.57 | ▲ +16.30% | ▲ +15.39% | $1.48 (+9.63%) |
Mar 3, 2026 33w ago | Press Release | $1.24 $1.29 | ▲ +4.03% | ▲ +5.37% | $1.48 (+19.35%) |
US Market Status
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