Fuel Tech eyes best day of 2021 on surprise Q1 profit

Fuel Tech

13/05/2021 14:02

** Shares of pollution control technology provider  FTEK.O 
surge 21.7% to $2.36 premarket, its biggest daily pct gain since
Dec 21
    ** Co posts surprise Q1 adj EPS of 1 cent/shr vs Refinitiv
est for loss of 6 cents/shr, helped by 20.2% decline in SG&A
expenses  urn:newsml:reuters.com:*:nBw7QXycCa
    ** Adj EBITDA loss of $943,000 also narrower than
expectations; revenue jumps 33.2% to $5.03 mln, but misses est
of $5.53 mln
    ** Total sales helped by 60% rise in FUEL CHEM segment
revenue, reflecting higher power demand and recovery from the
initial emergence of COVID-19 pandemic, and partially offset by
revenue declines at APC segment
    ** About 3.1 mln shares of the Warrenville, Illinois-based
company have traded premarket, about 559.1% of their 30 DMA
volume of 555,600 shares - Refinitiv data
    ** As of last close, stock down 50% YTD

 (Reporting by Devik Jain in Bengaluru)
 ((Devik.Jain@thomsonreuters.com; within U.S. +1 646 223 8780;
outside U.S. +91 80 6182 2062; ;))