Feb. 12 at 5:59 PM
$FTEK is a Zacks Rank 3 name in the Pollution Control group, with the industry benefiting from stricter global emissions rules and demand for air quality systems.
Q3 2025 rev came in at about
$7.5M vs
$7.9M last year, but gross margin improved to 49% and net income rose to ~
$0.3M (
$0.01 EPS), with positive adjusted EBITDA.
Balance sheet is cash heavy (~
$33.8M cash and investments vs ~
$6.9M total liabilities), backlog around
$9.5M, with roughly
$1M expected to convert in the next 12 months.
The November deck highlights
$80M-100M of outstanding SCR bids tied to AI, data center and crypto power demand, plus ongoing FUEL CHEM work at legacy accounts.
Shares sold off about 13% on the print as revenue lagged expectations, despite EPS meeting consensus. Watching to see if they can turn that bid pipeline into 2026 top line growth.
