ASPN - Why Aspen Aerogels Stock Popped Today
2024-02-13 20:41:29 ET
Shares of Aspen Aerogels (NYSE: ASPN) jumped 15.6% on Tuesday after the sustainability and electrification solutions specialist announced far stronger-than-expected quarterly results.
Aspen Aerogels' fourth-quarter revenue jumped 41% year over year to $84.2 million, and its net loss narrowed to $519,000, or $0.01 per share, from a loss of $0.20 per share a year earlier. Analysts, on average, were modeling a much wider net loss of $0.12 per share on revenue of $83.8 million.
Within its top line, Aspen Aerogels saw Thermal Barriers segment revenue grow 110% year over year, to $52.9 million, more than offsetting a supply-constrained 9% year-over-year decline in Energy Industrial segment sales, to $31.3 million.
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Why Aspen Aerogels Stock Popped Today