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FTEK · NASDAQ · Industrial - Pollution & Treatment Controls

Fuel Tech

Provides emissions-control systems and combustion-optimization programs for energy-related facilities.

$1.48

After-hours close0.00 (0.00%)

At close$1.48(+1.37%)

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Profile

Fuel Tech, Inc.FTEKIndustrials

Operates Air Pollution Control (APC) and FUEL CHEM businesses for utility and industrial combustion units. Revenue comes from project-oriented emissions-control systems and chemical-treatment programs that help energy-related facilities manage boiler performance worldwide.

Operates two technology businesses for utility and industrial combustion units: Air Pollution Control (APC) and FUEL CHEM. APC supplies systems designed to reduce emissions from stationary combustion sources, while FUEL CHEM uses chemical treatment, modeling, and targeted in-furnace injection to manage boiler conditions.

Work centers on helping energy-related facilities address nitrogen-oxide emissions and performance issues including slagging, fouling, corrosion, opacity, and sulfur-trioxide-related conditions. Its proprietary-technology activities also include process optimization, water treatment, and advanced engineering services.

APC demand is shaped by customer compliance choices and regulation. FUEL CHEM demand depends on customer ordering, electric-demand conditions, fuel switching, and the growth of renewable generation.

Company facts

CEOVincent J. Arnone

ListedSep 27, 1993

ExchangeNASDAQ

HeadquartersWarrenville, IL

CountryUnited States

Employees77

CIK0000846913

ISINUS3595231073

Key statistics

Market cap$46.1M

EPS (ttm)−$0.1125

P/E (ttm)−13.16

ROE-8.9%

P/B1.23

P/S1.69

Dividend yield—

Beta1.11vs XLI 0.37

Year to date −13.5% · Average volume (30d) 127.8K

Analysts

No analyst consensus on record.

Earnings

EPS

Estimate−$0.01

ReportedDue Nov 3, 2026

Revenue

Estimate$7.7M

ReportedDue Nov 3, 2026

History

Report date	EPS est	EPS	Surprise	Revenue est	Revenue	Surprise	Next session
Aug 4, 2026Q2 FY26	−$0.02	−$0.04	−100.0%	$6.6M	$6.5M	−1.4%	−5.23%
May 5, 2026Q1 FY26	—	−$0.04	—	$7.6M	$6.1M	−20.2%	−13.21%
Mar 3, 2026Q4 FY25	−$0.03	−$0.04	−33.3%	$7.5M	$7.2M	−2.9%	−10.14%
Nov 4, 2025Q3 FY25	$0.01	$0.01	0.0%	$7.5M	$7.5M	+0.3%	−12.70%

View details

Financial highlights

	Q1 FY25	Q2 FY25	Q3 FY25	Q4 FY25	Q1 FY26	Q2 FY26
Revenue	$6.4M	$5.6M	$7.5M	$7.2M	$6.1M	$6.5M
Gross profit	$3.0M	$2.5M	$3.7M	$3.2M	$2.6M	$2.7M
Operating income	−$952.0K	−$1.3M	$4.0K	−$1.4M	−$1.6M	−$1.6M
Net income	−$739.0K	−$689.0K	$303.0K	−$1.2M	−$1.4M	−$1.2M
Diluted EPS	−$0.02	−$0.02	$0.01	−$0.04	−$0.04	−$0.04
Gross margin	46.4%	45.5%	48.9%	44.6%	43.5%	41.2%
Operating margin	-14.9%	-23.5%	0.1%	-19.7%	-26.3%	-24.1%

Fiscal years (4-quarter sums)FY21 $24.3M · FY22 $26.9M · FY23 $27.1M · FY24 $25.1M · FY25 $26.7M

Revenue by product · Q2 FY26

FUEL CHEM$3.7M · 64%

Air Pollution Control$2.1M · 36%

Revenue by geography · Q2 FY26

United States$5.9M · 83%

Non-US$584.0K · 8%

Europe$305.0K · 4%

Latin America$189.0K · 3%

Asia$76.0K · 1%

Africa$14.0K · 0%

Balance sheet, Jun 30, 2026Cash & short-term investments $19.6M · Total debt $533.0K · Total assets $43.2M · Shareholders' equity $37.4M

Dividends

No dividends on record.

Ownership

Institutions 24.26%7.56M sharesInsiders 2.03%633.5K sharesOther 73.71%22.97M shares

Shares outstanding 31.17M · Float 23.77M · 76.3% free float

Top shareholders13F · 13D/G · Form 4

Holder	Shares	% outstanding	Form	Filed
Grace & White, Inc.	1.54M	5.02%	13G	Apr 6, 2026
Renaissance Technologies LLC	1.41M	4.52%	13F	May 14, 2026
Vanguard Capital Management LLC	988.0K	3.17%	13F	May 15, 2026
Vincent J. Arnone · director, officer: President & CEO	549.5K	1.76%	Form 4	Mar 9, 2026
Geode Capital Management, LLC	532.8K	1.71%	13F	May 15, 2026

Insider tradesForm 4

Date	Insider	Role	Shares	Avg price
Mar 6, 2026	Vincent J. Arnone	director, officer: President & CEO	+10,000	$1.24