Aspen Aerogels (NYSE:ASPN) Posts Earnings Results, Beats Estimates By $0.01 EPS

Aspen Aerogels (NYSE:ASPN) released its quarterly earnings results on Thursday. The construction company reported ($0.22) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.23) by $0.01, Zacks reports. The firm had revenue of $49.85 million for the quarter, compared to analyst estimates of $42.42 million. Aspen Aerogels had a negative return on equity of 29.30% and a negative net margin of 62.45%. Aspen Aerogels updated its Q3 2026 guidance to -0.110–0.070 EPS.

Here are the key takeaways from Aspen Aerogels’ conference call:

• Q3 outlook improved significantly, with revenue expected at $65 million–$80 million and adjusted EBITDA of $7 million–$15 million, supported by stronger energy industrial deliveries and higher thermal-barrier demand.
• Energy Industrial remains on track for approximately 20% growth in 2026, driven by LNG and subsea projects; management expects additional growth in 2027 and is targeting a $200 million, high-margin business without significant incremental capital investment.
• European PyroThin momentum accelerated, including a new Jaguar Land Rover design award. Aspen raised its 2026 European thermal-barrier revenue outlook to $20 million–$30 million from $10 million–$15 million and is targeting $40 million–$60 million in 2027.
• Aspen has begun a staged restart of its East Providence facility and expects full production capacity to return in the first half of 2027. Insurance is expected to recover a significant portion of incident-related costs, but expedited freight, external manufacturing, professional fees, and restoration spending will continue to pressure results and cash flow.
• Battery energy storage systems are being developed as a third growth segment, with customer qualification programs and commercial discussions underway. Management expects initial revenue in the near term but is not assuming meaningful BESS revenue in 2026.

Aspen Aerogels Stock Performance

NYSE ASPN traded down $0.62 during trading hours on Friday, hitting $6.26. 2,296,212 shares of the stock were exchanged, compared to its average volume of 1,620,230. The company has a quick ratio of 2.54, a current ratio of 2.89 and a debt-to-equity ratio of 0.32. The company has a market cap of $519.24 million, a price-to-earnings ratio of -4.09 and a beta of 2.99. Aspen Aerogels has a 12-month low of $2.30 and a 12-month high of $9.35. The stock has a 50-day moving average of $5.51 and a 200 day moving average of $4.42.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on ASPN shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Aspen Aerogels in a research report on Wednesday, June 24th. Wall Street Zen raised Aspen Aerogels from a “sell” rating to a “hold” rating in a report on Saturday, May 16th. B. Riley Financial restated a “buy” rating on shares of Aspen Aerogels in a research note on Friday. Barclays increased their price target on Aspen Aerogels from $3.00 to $4.00 and gave the stock an “underweight” rating in a report on Monday, May 11th. Finally, Roth Capital reiterated a “buy” rating and issued a $7.75 price objective on shares of Aspen Aerogels in a research report on Friday. Four investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, Aspen Aerogels presently has a consensus rating of “Hold” and a consensus target price of $5.69.

Hedge Funds Weigh In On Aspen Aerogels

Several institutional investors and hedge funds have recently added to or reduced their stakes in ASPN. Hsbc Holdings PLC purchased a new position in shares of Aspen Aerogels during the 4th quarter worth approximately $66,000. Invesco Ltd. lifted its holdings in shares of Aspen Aerogels by 237.9% in the 4th quarter. Invesco Ltd. now owns 4,129,934 shares of the construction company’s stock valued at $11,688,000 after buying an additional 2,907,558 shares during the period. XTX Topco Ltd boosted its stake in shares of Aspen Aerogels by 786.1% in the fourth quarter. XTX Topco Ltd now owns 202,030 shares of the construction company’s stock valued at $572,000 after buying an additional 179,231 shares in the last quarter. Quadrature Capital Ltd boosted its stake in shares of Aspen Aerogels by 248.5% in the fourth quarter. Quadrature Capital Ltd now owns 35,583 shares of the construction company’s stock valued at $101,000 after buying an additional 25,373 shares in the last quarter. Finally, Numerai GP LLC grew its holdings in Aspen Aerogels by 1,277.9% during the fourth quarter. Numerai GP LLC now owns 251,888 shares of the construction company’s stock worth $713,000 after acquiring an additional 233,608 shares during the period. Institutional investors and hedge funds own 97.64% of the company’s stock.

Key Aspen Aerogels News

Here are the key news stories impacting Aspen Aerogels this week:

• Positive Sentiment: Aspen reported second-quarter revenue of $49.85 million, exceeding the $42.42 million consensus estimate. Its adjusted loss of $0.22 per share was also slightly better than the expected $0.23 loss. Aspen Aerogels Reports Q2 Loss, Beats Revenue Estimates
• Positive Sentiment: Thermal Barrier revenue reached $29.5 million, an 81% sequential increase, highlighting momentum in Aspen’s electrification-related business. The company also raised its 2026 European Thermal Barrier revenue outlook to $20 million-$30 million. Aspen Aerogels Second-Quarter Results
• Positive Sentiment: Third-quarter revenue guidance of $65 million-$80 million is well above the $56.6 million analyst consensus, while adjusted EBITDA guidance of $7 million-$15 million suggests improving operating leverage. EPS guidance of a $0.07-$0.11 loss is also better than the expected $0.13 loss. Aspen Aerogels Guidance
• Positive Sentiment: Jaguar Land Rover selected Aspen’s PyroThin technology for two next-generation vehicle architectures, adding evidence of potential future automotive demand. Q2 2026 Earnings Presentation
• Neutral Sentiment: Aspen Aerogels’ inclusion in Russell 1000 coverage may improve visibility and potentially attract index-related investor interest, although the direct financial impact is uncertain. Aspen Aerogels Russell 1000 News
• Negative Sentiment: The company remains unprofitable: its second-quarter loss widened from $0.04 per share a year earlier to $0.22, with negative net margin and return on equity. This continuing cash-burn and execution risk may be limiting the market’s reaction to the otherwise favorable results. Aspen Aerogels Q2 Earnings Snapshot

About Aspen Aerogels

Aspen Aerogels, Inc, headquartered in Northborough, Massachusetts, develops and manufactures high-performance aerogel insulation materials and custom engineered solutions. Founded in 2001 as a spin-out from Department of Energy research, the company pursued an initial public offering on the NYSE in 2014 under the ticker ASPN. Aspen Aerogels combines proprietary aerogel formulations with advanced manufacturing processes to deliver products known for their low thermal conductivity, lightweight construction and robust mechanical properties.

The company’s product portfolio spans blanket insulation, boards, and custom shapes built around several proprietary brands, including Pyrogel, Cryogel and Spaceloft.