Aspen Aerogels (NYSE:ASPN) Announces Earnings Results, Beats Expectations By $0.01 EPS

Aspen Aerogels (NYSE:ASPN) issued its quarterly earnings data on Thursday. The construction company reported ($0.22) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.23) by $0.01, Zacks reports. Aspen Aerogels had a negative return on equity of 29.30% and a negative net margin of 62.45%.The business had revenue of $49.85 million for the quarter, compared to analyst estimates of $42.42 million. 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 Trading Down 9.1%

Shares of ASPN stock traded down $0.62 on Friday, hitting $6.26. The company had a trading volume of 2,296,212 shares, compared to its average volume of 1,620,230. Aspen Aerogels has a twelve month low of $2.30 and a twelve month high of $9.35. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.54 and a current ratio of 2.89. The firm has a market cap of $519.22 million, a P/E ratio of -4.09 and a beta of 2.99. The stock’s 50-day moving average is $5.51 and its two-hundred day moving average is $4.42.

Institutional Trading of Aspen Aerogels

Several institutional investors have recently added to or reduced their stakes in ASPN. Royal Bank of Canada lifted its position in shares of Aspen Aerogels by 84.7% in the 1st quarter. Royal Bank of Canada now owns 56,419 shares of the construction company’s stock worth $360,000 after purchasing an additional 25,880 shares during the period. AQR Capital Management LLC acquired a new stake in shares of Aspen Aerogels during the first quarter worth $960,000. Integrated Wealth Concepts LLC bought a new position in Aspen Aerogels during the first quarter worth $84,000. Goldman Sachs Group Inc. raised its stake in Aspen Aerogels by 89.7% during the first quarter. Goldman Sachs Group Inc. now owns 1,274,356 shares of the construction company’s stock worth $8,143,000 after buying an additional 602,586 shares during the last quarter. Finally, Caxton Associates LLP acquired a new position in Aspen Aerogels in the first quarter valued at $307,000. 97.64% of the stock is currently owned by institutional investors.

Key Stories Impacting Aspen Aerogels

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

Wall Street Analysts Forecast Growth

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

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.