Fuel Tech Inc Down 7.31% To $1.14 After Earnings Miss

Fuel Tech Inc (FTEK) missed earnings estimates for Q2 2023 this afternoon.

Wall Street earnings per share (EPS) projections for Fuel Tech Inc were at a loss of $0.02 per share. The company missed those estimates with an EPS loss of $0.03 per share. The loss of $0.03 per share (which represents a -50% EPS surprise) led to the company's profits falling 200% compared to last year when the firm reported an EPS loss of $0.01 per share. The decline in Fuel Tech Inc's annual growth rate represents how the business isn't performing well amid current economic conditions.

Revenues were downbeat at $5.6 million. That represents a 12.67% decrease in revenues from the year-ago report and is 11.59% lower than consensus estimates set at $6.3 million.

The stock is down 7.31% to $1.14 after the report.

The firm's higher revenue growth to earnings signals that the firm has not been able to reduce costs and has seen its profit margin decrease.

The average recommendation from Wall Street analysts was a Strong Buy which may get revised based on this new data.

InvestorsObserver gives the stock a Bearish Sentiment score at the moment based on recent trading.

Fuel Tech Inc has performed a little below average during the past few months. Before the report, Fuel Tech Inc received a Long-Term Technical Rank by InvestorsObserver of 44, putting it in the bottom half of stocks. The firm set a 52-week high on April 24, 2023 at $1.83 and set a 52-week low on September 28, 2022 at $1.13.

Fuel Tech Inc is an technology provider of boiler optimization, efficiency improvement, and air pollution reduction to utility and industrial customers. The company operates in two segments, Air Pollution Control and Fuel Chem. The Air Pollution Control technology segment includes technologies to reduce NOx emissions in flue gas from boilers, incinerators, furnaces and other stationary combustion sources. TheFuel Chem technology segment uses chemical processes in combination with advanced Computational Fluid Dynamics and Chemical Kinetics Modeling boiler modeling for the control of slagging, fouling, corrosion, opacity and other sulfur trioxide-related issues in furnaces and boilers through the addition of chemicals into the furnace using TIFI Targeted In-Furnace Injection technology.