Spirit Airlines to resume daily Myrtle Beach flights from Arnold Palmer Regional Airport
The daily service will be to and from Myrtle Beach, South Carolina, beginning May 7, according to the Westmoreland County Airport Authority in an announcement Tuesday. Spirit (Nasdaq: SAVE), which is in Chapter 11 bankruptcy protection, currently has a flight to/from Orlando from Arnold Palmer Regional Airport four times a week. The Orlando flight had previously been daily.
The Latrobe-Myrtle Beach service had been seasonal and ended in early November.
It's not clear whether the daily Myrtle Beach-Latrobe service will be seasonal.
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Yahoo
18 minutes ago
- Yahoo
Fuel Tech Reports 2025 Second Quarter Financial Results
WARRENVILLE, Ill., Aug. 05, 2025 (GLOBE NEWSWIRE) -- Fuel Tech, Inc. (NASDAQ: FTEK), a technology company using advanced engineering processes to provide emissions control systems and water treatment technologies in utility and industrial applications, today reported financial results for the second quarter ended June 30, 2025. 'Our second quarter results, along with ongoing developments across our two business segments and our Dissolved Gas Infusion business, strengthen our confidence in delivering improved overall performance in the second half of the year,' said Vincent J. Arnone, President and CEO. 'We are actively pursuing new contract opportunities across our APC and FUEL CHEM® business segments. For the APC segment, in particular, we are addressing both traditional end markets and the significant prospects offered by the rising demand for data centers. We have multiple bids outstanding for our SCR technology to address the emissions control requirements of AI-related data centers to be built in the U.S. over the next several years. We remain closely engaged with these potential partners and are excited about the opportunities that lie ahead.' He concluded, 'We are supported in our efforts by a strong financial position. At June 30, 2025, our balance sheet included nearly $31 million in cash, cash equivalents and investments and no long-term debt.' Business Segment Performance Overview Performance within our FUEL CHEM® segment was steady compared to last year's second quarter reflecting seasonal weather transition from spring to summer. Based on FUEL CHEM's strong performance in the early part of the third quarter, the Company anticipates robust segment results for the full third quarter of 2025 and full-year segment revenue to reach its highest level since 2022. The Company is continuing to pursue the expansion of its client base and expects that a demonstration of its TIFI® Targeted In-Furnace Injection™ technology will commence in the fourth quarter of this year at a coal-fired unit in the Midwest. Segment revenue within Air Pollution Control ('APC') declined due primarily to timing of project execution on existing contracts. Before the end of the month of August, we are confident that we will be awarded between $2.5 and $3.0 million in additional contracts from new and existing U.S. and international customers. These new awards would increase our effective APC backlog. In July, the Company commenced an extended demonstration of its Dissolved Gas Infusion (DGI®) technology at a fish hatchery in the Western U.S. The demonstration is expected to last until the second quarter of 2026 and is designed to evaluate the benefits of delivering consistent and precise levels of dissolved oxygen on the raising of gamefish in a controlled environment. Second Quarter 2025 ('Q2 2025') Consolidated Results Overview. Consolidated revenues for Q2 2025 declined to $5.6 million from $7.0 million, primarily driven by lower APC revenues associated with timing of project execution on existing contracts. Consolidated gross margin for Q2 2025 expanded to 45.5% of revenues from 41.9% of revenues, reflecting an increase in both APC and FUEL CHEM segment gross margins. SG&A expenses rose slightly to $3.3 million from $3.2 million. As a percentage of revenues, SG&A expenses rose to 60.2% in Q2 2025 from 46.1%, reflecting lower revenues in Q2 2025. Interest income rose to $0.5 million from $0.3 million, related primarily to the inclusion of $0.3 million related to the one-time collection of the Employee Retention Credit ('ERC') benefit under the CARES Act. Net loss in Q2 2025 was $(689,000), or $(0.02) per share, compared to net loss of $(421,000), or $(0.02) per share. Consolidated APC segment backlog at June 30, 2025 was $7.8 million compared to $10.3 million at March 31, 2025 and $6.2 million at December 31, 2024. APC segment revenue decreased to $2.5 million from $3.9 million, primarily related to timing of project execution on existing contracts. Segment gross margin expanded to 43.9% from 39.1%, primarily due to product and project mix. FUEL CHEM segment revenue was flat at $3.1 million. Segment gross margin expanded to 46.8% from 45.5%, reflecting an increased volume of sales activity combined with relatively flat segment administrative expenses. Adjusted EBITDA loss was $(0.9) million in Q2 2025 compared to an Adjusted EBITDA loss of $(0.5) million. Financial Condition At June 30, 2025, cash and cash equivalents were $10.6 million, short-term investments were $12.4 million, and long-term investments totaled $7.9 million. Stockholders' equity at June 30, 2025 was $40.6 million, or $1.32 per share, and the Company had no debt. Conference Call Management will host a conference call on Wednesday, August 6, 2025 at 10:00 am ET / 9:00 am CT to discuss the results and business activities. Interested parties may participate in the call by dialing: (877) 423-9820 (Domestic) or (201) 493-6749 (International) The conference call will also be accessible via the Upcoming Events section of the Company's web site at Following management's opening remarks, there will be a question-and-answer session. About Fuel Tech Fuel Tech develops and commercializes state-of-the-art proprietary technologies for air pollution control, process optimization, water treatment, and advanced engineering services. These technologies enable customers to operate in a cost-effective and environmentally sustainable manner. Fuel Tech is a leader in nitrogen oxide (NOx) reduction and particulate control technologies and its solutions have been installed on over 1,300 utility, industrial and municipal units worldwide. The Company's FUEL CHEM® technology improves the efficiency, reliability, fuel flexibility, boiler heat rate, and environmental status of combustion units by controlling slagging, fouling, corrosion and opacity. Water treatment technologies include DGI® Dissolved Gas Infusion Systems which utilize a patented saturator and a patent-pending channel injector to deliver supersaturated oxygen solutions and other gas-water combinations to target process applications or environmental issues. This infusion process has a variety of applications in the water and wastewater industries, including remediation, aeration, biological treatment and wastewater odor management. Many of Fuel Tech's products and services rely heavily on the Company's exceptional Computational Fluid Dynamics modeling capabilities, which are enhanced by internally developed, high-end visualization software. For more information, visit Fuel Tech's web site at NOTE REGARDING FORWARD-LOOKING STATEMENTS This press release contains '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 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, contracts being awarded to competitors offering different or lower-priced technologies, projects being suspended, delayed or cancelled and other risks 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 condition, 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 of the 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 Fuel Tech's filings with the Securities and Exchange Commission. CONTACT: Vince ArnonePresident and CEO (630) 845-4500 Devin SullivanManaging DirectorThe Equity Group FUEL TECH, CONSOLIDATED BALANCE SHEETS(in thousands, except share and per share data) June 30, December 31, 2025 2024 ASSETS Current assets: Cash and cash equivalents $ 10,589 $ 8,510 Short-term investments 12,420 10,184 Accounts receivable, less current expected credit loss of $108 and $106, respectively 6,293 9,368 Inventories, net 616 397 Prepaid expenses and other current assets 1,093 1,160 Total current assets 31,011 29,619 Property and equipment, net of accumulated depreciation of $19,155 and $18,958, respectively 4,853 5,084 Goodwill 2,116 2,116 Other intangible assets, net of accumulated amortization of $543 and $525 respectively 315 327 Right-of-use operating lease assets, net 578 585 Long-term investments 7,925 10,875 Other assets 205 191 Total assets $ 47,003 $ 48,797 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Accounts payable $ 2,124 $ 2,915 Accrued liabilities: Operating lease liabilities - current 84 77 Employee compensation 743 1,248 Other accrued liabilities 2,375 1,615 Total current liabilities 5,326 5,855 Operating lease liabilities - non-current 536 548 Deferred income taxes, net 176 176 Other liabilities 301 263 Total liabilities 6,339 6,842 Stockholders' equity: Common stock, $.01 par value, 40,000,000 shares authorized, 32,281,179 and 31,767,329 shares issued, and 31,074,438 and 30,708,273 shares outstanding, respectively 322 317 Additional paid-in capital 165,503 165,295 Accumulated deficit (120,900 ) (119,472 ) Accumulated other comprehensive loss (1,769 ) (1,915 ) Nil coupon perpetual loan notes 76 76 Treasury stock, at cost (2,568 ) (2,346 ) Total stockholders' equity 40,664 41,955 Total liabilities and stockholders' equity $ 47,003 $ 48,797 See notes to condensed consolidated financial TECH, CONSOLIDATED STATEMENTS OF OPERATIONS(in thousands, except share and per share data) Three Months Ended Six Months Ended June 30, June 30, 2025 2024 2025 2024 Revenues $ 5,558 $ 7,042 $ 11,940 $ 11,999 Costs and expenses: Cost of sales 3,029 4,090 6,452 7,018 Selling, general and administrative 3,347 3,245 6,688 6,590 Research and development 490 422 1,060 798 6,866 7,757 14,200 14,406 Operating loss (1,308 ) (715 ) (2,260 ) (2,407 ) Interest income 537 334 816 645 Other income (expense), net 86 (34 ) 20 1,639 Loss before income taxes (685 ) (415 ) (1,424 ) (123 ) Income tax expense (4 ) (6 ) (4 ) (17 ) Net loss $ (689 ) $ (421 ) $ (1,428 ) $ (140 ) Net loss per common share: Basic net loss per common share $ (0.02 ) $ (0.01 ) $ (0.05 ) $ (0.00 ) Diluted net loss per common share $ (0.02 ) $ (0.01 ) $ (0.05 ) $ (0.00 ) Weighted-average number of common shares outstanding: Basic 30,868,000 30,482,000 30,796,000 30,434,000 Diluted 30,868,000 30,482,000 30,796,000 30,434,000 See notes to condensed consolidated financial TECH, CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS(in thousands) Three Months Ended Six Months Ended June 30, June 30, 2025 2024 2025 2024 Net loss $ (689 ) $ (421 ) $ (1,428 ) $ (140 ) Other comprehensive loss: Foreign currency translation adjustments 11 5 146 (138 ) Comprehensive loss $ (678 ) $ (416 ) $ (1,282 ) $ (278 ) See notes to condensed consolidated financial TECH, CONSOLIDATED STATEMENTS OF CASH FLOWS(in thousands) Six Months Ended June 30, 2025 2024 Operating Activities Net loss $ (1,428 ) $ (140 ) Adjustments to reconcile net loss to net cash provided by (used in) operating activities: Depreciation 327 161 Amortization 18 31 Non-cash interest income on held-to-maturity securities (90 ) (72 ) Stock-based compensation, net of forfeitures 212 228 Changes in operating assets and liabilities: Accounts receivable 1,987 (334 ) Employee retention credit receivable 1,232 (1,677 ) Inventory (218 ) (24 ) Prepaid expenses, other current assets and other non-current assets 77 367 Accounts payable (833 ) 524 Accrued liabilities and other non-current liabilities 203 (1,728 ) Net cash provided by (used in) operating activities 1,487 (2,664 ) Investing Activities Purchases of equipment and patents (101 ) (204 ) Purchases of debt securities (4,949 ) (11,107 ) Maturities of debt securities 5,750 7,000 Net cash provided by (used in) investing activities 700 (4,311 ) Financing Activities Taxes paid on behalf of award participants (222 ) (95 ) Net cash used in financing activities (222 ) (95 ) Effect of exchange rate fluctuations on cash 114 (104 ) Net decrease in cash and cash equivalents 2,079 (7,174 Cash and cash equivalents at beginning of period 8,510 17,578 Cash and cash equivalents at end of period $ 10,589 $ 10,404 See notes to condensed consolidated financial TECH, Data- Reporting Segments(in thousands) Information about reporting segment net sales and gross margin from operations is provided below: Air Pollution FUEL CHEM Three months ended June 30, 2025 Control Segment Segment Other Total Revenues from external customers $ 2,505 $ 3,053 $ — $ 5,558 Cost of sales (1,406 ) (1,623 ) — (3,029 ) Gross margin 1,099 1,430 — 2,529 Selling, general and administrative — — (3,347 ) (3,347 ) Research and development — — (490 ) (490 ) Operating income (loss) from operations $ 1,099 $ 1,430 $ (3,837 ) $ (1,308 ) Air Pollution FUEL CHEM Three months ended June 30, 2024 Control Segment Segment Other Total Revenues from external customers $ 3,949 $ 3,093 $ — $ 7,042 Cost of sales (2,405 ) (1,685 ) — (4,090 ) Gross margin 1,544 1,408 — 2,952 Selling, general and administrative — — (3,245 ) (3,245 ) Research and development — — (422 ) (422 ) Operating income (loss) from operations $ 1,544 $ 1,408 $ (3,667 ) $ (715 ) Air Pollution FUEL CHEM Six months ended June 30, 2025 Control Segment Segment Other Total Revenues from external customers $ 3,808 $ 8,132 $ — $ 11,940 Cost of sales (2,284 ) (4,168 ) — (6,452 ) Gross margin 1,524 3,964 — 5,488 Selling, general and administrative — — (6,688 ) (6,688 ) Research and development — — (1,060 ) (1,060 ) Operating income (loss) from operations $ 1,524 $ 3,964 $ (7,748 ) $ (2,260 ) Air Pollution FUEL CHEM Six months ended June 30, 2024 Control Segment Segment Other Total Revenues from external customers $ 6,267 $ 5,732 $ — $ 11,999 Cost of sales (3,833 ) (3,185 ) — (7,018 ) Gross margin 2,434 2,547 — 4,981 Selling, general and administrative — — (6,590 ) (6,590 ) Research and development $ — — (798 ) (798 ) Operating income (loss) from operations $ 2,434 $ 2,547 $ (7,388 ) $ (2,407 ) FUEL TECH, Segment Financial Data(in thousands) Information concerning our operations by geographic area is provided below. Revenues are attributed to countries based on the location of the end-user. Assets are those directly associated with operations of the geographic area. Three Months Ended Six Months Ended June 30, June 30, 2025 2024 2025 2024 Revenues: United States $ 4,442 $ 4,471 $ 9,801 $ 8,066 Foreign 1,116 2,571 2,139 3,933 $ 5,558 $ 7,042 $ 11,940 $ 11,999 June 30, December 31, 2025 2024 Assets: United States $ 44,130 $ 44,430 Foreign 2,873 4,367 $ 47,003 $ 48,797 FUEL TECH, OF GAAP NET LOSS TO EBITDA AND ADJUSTED EBITDA (in thousands) Three Months Ended Six Months Ended June 30, June 30, 2025 2024 2025 2024 Net Loss $ (689 ) $ (421 ) $ (1,428 ) $ (140 ) Interest income (537 ) (334 ) (816 ) (645 ) Income tax expense 4 6 4 17 Depreciation expense 163 81 327 161 Amortization expense 9 15 18 31 EBITDA (1,050 ) (653 ) (1,895 ) (576 ) Stock compensation expense 102 124 212 228 Gain on employee retention credit - - - (1,677 ) Adjusted EBITDA $ (948 ) $ (529 ) $ (1,683 ) $ (2,025 )Adjusted EBITDA To supplement the Company's consolidated financial statements presented in accordance with generally accepted accounting principles in the United States (GAAP), the Company has provided an Adjusted EBITDA disclosure as a measure of financial performance. Adjusted EBITDA is defined as net income (loss) before interest expense, income tax expense (benefit), depreciation expense, amortization expense, stock compensation expense and gain on employee retention credit. The Company's reference to these non-GAAP measures should be considered in addition to results prepared in accordance with GAAP standards, but are not a substitute for, or superior to, GAAP results. Adjusted EBITDA is provided to enhance investors' overall understanding of the Company's current financial performance and ability to generate cash flow, which we believe is a meaningful measure for our investor and analyst communities. In many cases non-GAAP financial measures are utilized by these individuals to evaluate Company performance and ultimately determine a reasonable valuation for our common stock. A reconciliation of Adjusted EBITDA to the nearest GAAP measure of net income (loss) has been included in the above financial while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Business Wire
19 minutes ago
- Business Wire
The Hackett Group ® and Celonis Partner to Accelerate ROI With Unmatched AI + Process Intelligence Solutions
MIAMI--(BUSINESS WIRE)-- The Hackett Group, Inc. (NASDAQ: HCKT), a leading generative artificial intelligence (Gen AI) consultancy and executive advisory firm, today announced a collaboration with Celonis, a global leader in process mining, to deliver intelligent enterprise automation that drives measurable business results at unprecedented speed. Using Celonis process intelligence and The Hackett Group's AI XPLR™ and ZBrain™ platforms, companies can compare their performance against Digital World Class® standards. Using Celonis process intelligence and The Hackett Group's AI XPLR ™ and ZBrain ™ platforms – that leverage The Hackett Group's globally recognized enterprise benchmarking and business transformation IP – companies can compare their performance against Digital World Class ® performance standards. This will allow clients to quickly identify the greatest ROI opportunities and harness unmatched process intelligence and agentic workflow solutions to achieve their value realization objectives. The partnership delivers: Clarity on the right tech investments: Combining The Hackett Group's industry benchmarks with Celonis process intelligence and its own benchmarks on leading metrics, such as cycle time, automation rate, and rework rate, organizations can now see which technologies, including AI, will drive best-in-class performance. As part of the partnership, The Hackett Group ® has certified the Celonis process intelligence operating benchmark framework. Precision in their AI deployments: The Hackett Group's AI XPLR™ will be able to use process intelligence from the Celonis Process Intelligence Graph, to generate tailored, highly-impactful AI use cases and digital transformation recommendations. AI that delivers measurable business outcomes at scale: Companies can turn the AI use case recommendations into executable agentic workflows using The Hackett Group's ZBrain™ Gen AI development platform, and orchestrate those agents with the Celonis Orchestration Engine. 'Together, we are redefining the way companies operate. By combining Celonis' unique process intelligence, benchmarking insights, and AI orchestration, we are enabling the operations of the future: AI-driven and continuously learning and improving,' said Carsten Thoma, President and Board Director at Celonis. 'We're helping companies move from intention to action and impact,' said Ted Fernandez, Chairman and CEO of The Hackett Group ®. 'Celonis process intelligence lets companies understand how their business runs and how to make it run better. On that basis, AI XPLR™ identifies, designs and evaluates potential solutions, and ZBrain™ delivers the agentic workflows to drive the change.' About The Hackett Group ® The Hackett Group, Inc. (NASDAQ: HCKT) is an IP and platform-based, Gen AI strategic consulting and executive advisory firm that enables Digital World Class® performance. Using AI XPLR™ and ZBrain™ – our ideation through implementation platforms – our experienced professionals help organizations realize the power of Gen AI and achieve quantifiable, breakthrough results, allowing us to be key architects of their Gen AI journey. Our expertise is grounded in unparalleled best practices insights from benchmarking the world's leading businesses – including 97% of the Dow Jones Industrials, 90% of the Fortune 100, 70% of the DAX 40 and 51% of the FTSE 100. Visit us at About Celonis Celonis makes processes work for people, companies and the planet. The Celonis Process Intelligence Platform uses industry-leading process mining and AI technology and augments it with business context to give customers a living digital twin of their business operation. It's system-agnostic and without bias, and provides everyone with a common language for understanding and improving businesses. Celonis enables its customers to continuously realize significant value across the top, bottom, and green line. Celonis is headquartered in Munich, Germany, and New York City, USA, with more than 20 offices worldwide. Trademarks The Hackett Group ®, quadrant logo, and Digital World Class ® are the registered marks of The Hackett Group ®. Celonis and the Celonis 'droplet' logo are trademarks or registered trademarks of Celonis SE in Germany and other jurisdictions. All other product and company names are trademarks or registered trademarks of their respective owners. Cautionary Statement Regarding 'Forward-Looking' Statements This release contains 'forward-looking' statements within the meaning of Section 27A of the Securities Act of 1933 as amended and Section 21E of the Securities Exchange Act of 1934, as amended including statements regarding The Hackett Group, Inc.'s joint efforts with Celonis including expected benefits and anticipated outcomes. Statements including, without limitation, words such as 'expects,' 'anticipates,' 'intends,' 'plans,' 'believes,' 'seeks,' 'estimates,' or other similar phrases or variations of such words or similar expressions indicating present or future anticipated or expected occurrences or outcomes are intended to identify such forward-looking statements. These forward-looking statements are not statements of historical fact, are based on current expectations and assumptions and are subject to known and unknown risks and uncertainties. Risks and uncertainties include, but are not limited to, those related to the ability of the parties to perform their respective obligations contained in agreements between the parties, the effectiveness of the parties' products, services, or technologies, factors beyond The Hackett Group's control that could affect the outcome of the joint efforts as well as other factors that may cause The Hackett Group's actual results, performance or achievements to be materially different from the results, performance or achievements expressed or implied by the forward-looking statements contained in this press release as detailed in The Hackett Group's reports filed with the United States Securities and Exchange Commission. The Hackett Group, Inc. undertakes no obligation to update any forward-looking statement contained herein.
Skift
19 minutes ago
- Skift
Marriott Lowers Full-Year Outlook
The DJIA fell 62 points while the Nasdaq was down 137, the S&P 500 fell 31 points, and the 10-year treasury yield was flat at 4.20%. Lodging stocks were modestly lower. On the earnings side, out of the three that reported, the one with the best report, VAC, was the only one in negative territory, as MAR and RHP both squeaked out gains on the day. SVC was the biggest mover in the group, up 5%. Marriott International beat second-quarter expectations but did what most of the others have not been doing: lowered the 2025 RevPAR outlook. They also lowered 2025 adjusted EBITDA guidance slightly, with the cut being for a weaker-than-expected 3Q as MAR expects an acceleration in 4Q. MAR repurchased 2.8 million shares in 2Q for $700 million. MAR expects to return $4 billion in capital to shareholders for the year with share repurchases and dividends. Ryman Hospitality Properties reported better-than-expected 2Q25 results but cut net income
