Fuel-Tech, Inc. (NASDAQ:FTEK) Q2 2020 Earnings Conference Call - Final Transcript

Aug 12, 2020 • 10:00 am ET


Fuel-Tech, Inc. (NASDAQ:FTEK) Q2 2020 Earnings Conference Call - Final Transcript


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Greetings, and welcome to the Fuel Tech, Inc. Second Quarter 2020 Financial Results Conference Call. [Operator Instructions] As a reminder, this conference is being recorded.

It is now my pleasure to introduce your host, Devin Sullivan, Senior Vice President of The Equity Group. Thank you. You may begin.

Devin Sullivan

Thank you, Donna. Good morning, everyone, and thank you for joining us today for Fuel Tech's second quarter 2020 financial results conference call. Yesterday, after the close, we issued a copy of the release, which is available at the company's website, www.ftek.com.

Our speakers for today will be Vince Arnone, Chairman, President and Chief Executive Officer; and Ellen Albrecht, the company's Principal Financial Officer. After prepared remarks, we will open the call for questions from our analysts and investors.

Before turning things over to Vince, I'd like to remind everyone that matters discussed on this call, except for historical information, are forward-looking statements as defined in Section 21E of the Securities Exchange Act of 1934, as amended, which are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and reflect Fuel Tech's current expectations regarding future growth, results of operations, cash flows, performance and business prospects and opportunities as well as assumptions made by and information currently available to our company's management. Fuel Tech has tried to identify forward-looking statements by using words, such as anticipate, believe, plan, expect, estimate, intend, will and similar expressions, but these words are not the exclusive means of identifying forward-looking statements. These statements are based on information currently available to Fuel Tech and are subject to various risks, uncertainties and other factors including, but not limited to, those discussed in Fuel Tech's Annual Report on Form 10-K in Item 1A under the caption Risk Factors and subsequent filings under the Securities Exchange Act of 1934, as amended, which could cause Fuel Tech's actual growth, results of operations, financial conditions, cash flows, performance and business prospects and opportunities to differ materially from those expressed in or implied by these statements. Fuel Tech undertakes no obligation to update such factors or to publicly announce the results of any forward-looking statements contained herein to reflect future events, developments or changed circumstances or for any other reason. Investors are cautioned that all forward-looking statements involve risks and uncertainties including those detailed in the company's filings with the SEC.

With that said, I'd now like to turn the call over to Vince Arnone. Vince, please go ahead.

Vincent J. Arnone

Thank you, Devin. Good morning, and I want to thank everyone for joining us on the call today. I hope that you and your families are safe and in good health. I'll begin today with an overview of how the COVID-19 pandemic is impacting Fuel Tech and how we are addressing these challenges.

We believe that the COVID-19 pandemic affected our Air Pollution Control and FUEL CHEM operations in the second quarter, although the impact is difficult to quantify. Many of the project-specific delays that we had been