Aspen Aerogels (NYSE:ASPN) Posts Earnings Results, Misses Expectations By $0.01 EPS

Aspen Aerogels (NYSE:ASPN) announced its earnings results on Thursday. The construction company reported ($0.28) EPS for the quarter, missing analysts’ consensus estimates of ($0.27) by ($0.01), FiscalAI reports. Aspen Aerogels had a negative net margin of 48.64% and a negative return on equity of 20.79%. The business had revenue of $37.88 million during the quarter, compared to analysts’ expectations of $36.58 million. During the same period in the previous year, the company posted ($0.06) earnings per share. Aspen Aerogels’s quarterly revenue was down 51.8% on a year-over-year basis. Aspen Aerogels updated its Q2 2026 guidance to -0.240–0.17 EPS.

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

• Management reported an explosion and temporary shutdown at the East Providence plant, with a staged restart expected in May, creating short-term supply disruption and elevated costs from expedited freight and repairs.
• Aspen expects ~20% revenue growth in Energy Industrial for 2026, driven by growing Subsea awards, an anticipated ~2x increase in LNG activity, and maintenance/turnaround opportunities, and aims to scale the segment to a $200M high‑margin business without incremental capex.
• Thermal Barrier momentum is concentrated in Europe—Q1 EU revenue was >3x year‑ago and Aspen targets roughly $10M–$15M from European OEM programs in 2026—while the company is also pursuing battery energy storage system qualifications with potential initial revenue in 2026.
• Q2 guidance calls for revenue of $40M–$48M and Adjusted EBITDA of −$10M to −$4M; liquidity is strong with $175.6M cash (ample covenant headroom), but the company expects possible Q2 cash outflows of $20M–$30M depending on supply mitigation and inventory build.

Aspen Aerogels Stock Performance

NYSE ASPN traded down $0.07 during trading hours on Friday, hitting $5.05. 2,011,581 shares of the stock were exchanged, compared to its average volume of 1,828,986. The company has a market cap of $418.04 million, a price-to-earnings ratio of -3.71 and a beta of 2.83. Aspen Aerogels has a 12-month low of $2.30 and a 12-month high of $9.78. The stock has a 50-day moving average of $3.46 and a 200 day moving average of $3.79. The company has a quick ratio of 3.29, a current ratio of 3.90 and a debt-to-equity ratio of 0.34.

Analyst Ratings Changes

A number of brokerages have recently commented on ASPN. Roth Mkm reaffirmed a “buy” rating and issued a $5.75 target price on shares of Aspen Aerogels in a report on Friday. TD Cowen reduced their target price on shares of Aspen Aerogels from $7.00 to $6.00 and set a “buy” rating for the company in a report on Thursday, February 26th. Zacks Research raised shares of Aspen Aerogels from a “strong sell” rating to a “hold” rating in a report on Thursday, January 15th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Aspen Aerogels in a report on Friday, March 27th. Finally, Barclays reduced their target price on shares of Aspen Aerogels from $4.00 to $3.00 and set an “underweight” rating for the company in a report on Thursday, March 5th. Three equities research 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’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $4.94.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Hsbc Holdings PLC purchased a new position in Aspen Aerogels during the fourth quarter worth about $66,000. Invesco Ltd. raised its holdings in Aspen Aerogels by 237.9% during the fourth quarter. Invesco Ltd. now owns 4,129,934 shares of the construction company’s stock worth $11,688,000 after purchasing an additional 2,907,558 shares in the last quarter. XTX Topco Ltd raised its holdings in Aspen Aerogels by 786.1% during the fourth quarter. XTX Topco Ltd now owns 202,030 shares of the construction company’s stock worth $572,000 after purchasing an additional 179,231 shares in the last quarter. Quadrature Capital Ltd raised its holdings in Aspen Aerogels by 248.5% during the fourth quarter. Quadrature Capital Ltd now owns 35,583 shares of the construction company’s stock worth $101,000 after purchasing an additional 25,373 shares in the last quarter. Finally, Numerai GP LLC raised 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 purchasing an additional 233,608 shares in the last quarter. 97.64% of the stock is owned by hedge funds and other institutional investors.

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.