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Fusion Fuel Highlights First Quarter 2026 Financial Results of Majority-Owned Subsidiary Quality Industrial Corp., Highlighted by Return to Profitability and Significant Operating Expense Reduction
Fusion Fuel Highlights First Quarter 2026 Financial Results of Majority-Owned Subsidiary Quality Industrial Corp., Highlighted by Return to Profitability and Significant Operating Expense Reduction.
About this update from Quality Industrial Corp.
[{"type":"text","content":"\r\n\r\n \r\n \r\n Fusion Fuel Highlights First Quarter 2026 Financial Results of Majority-Owned Subsidiary Quality Industrial Corp., Highlighted by Return to Profitability and Significant Operating Expense Reduction\r\n \r\n \r\n\r\n\r\nFusion Fuel Highlights First Quarter 2026 Financial Results of Majority-Owned Subsidiary Quality Industrial Corp., Highlighted by Return to Profitability and Significant Operating Expense Reduction\r\n\r\n\r\n\r\n\r\n\r\nQIND Achieves Positive Net Income and Operating Income While Reducing Operating Expenses by Approximately 56.6% Year-Over-Year Al Shola Gas Awarded 16 New Engineering Subcontracts Subsequent to Quarter-End with Aggregate Expected Value of Approximately $1.14 Million DUBLIN, Ireland, May 15, 2026 (GLOBE NEWSWIRE) -- Fusion Fuel Green PLC (Nasdaq: HTOO) (\"Fusion Fuel\" or the \"Company\"), a leading provider of full-service energy engineering, advisory, and utility solutions , today highlighted certain financial results for the first quarter ended March 31, 2026, as reported by the Company’s majority-owned subsidiary, Quality Industrial Corp. (OTCID: QIND) (“QIND”), and provided an update on QIND’s business progress. For the three months ended March 31, 2026, QIND reported the following results: \r\n Revenue of $3.67 million compared to $3.62 million for the three months ended March 31, 2025 representing an increase of approximately 1.4% year-over-year, resulting from an increase in revenue of QIND’s 51.0%-owned subsidiary, Al Shola Al Modea Gas Distribution L.L.C. (“Al Shola Gas”)\r\n Gross profit of $1.0 million, up approximately 4.7% from $0.96 million for the three months ended March 31, 2025\r\n Total operating expenses declined to $0.8 million from $1.9 million for the three months ended March 31, 2025 representing a reduction of approximately 56.6%\r\n Income from operations of $0.18 million compared to a loss from operations of $(0.95) million for the three months ended March 31, 2025 representing an improvement of approximately 118.6% year-over-year\r\n Net income of $0.1 million compared to a net loss of $(1.3) million in the three months ended March 31, 2025\r\n In addition, QIND reported that Al Shola Gas was awarded 16 new LPG engineering subcontracts subsequent to quarter-end with aggregate expected value of approxima...