Stock Track | Aspen Aerogels Soars in Pre-Market on Strong Q3 Results, Raised Outlook

Stock Track

2024-11-07

Aspen Aerogels (NYSE: ASPN) stock surged over 7% in pre-market trading on Tuesday after the company reported impressive third-quarter 2024 financial results that exceeded expectations and raised its full-year guidance.

For the third quarter, Aspen Aerogels posted revenue of $117.3 million, up a staggering 93% year-over-year and beating the consensus estimate of $109.4 million. The company's net loss of $13 million, or $0.17 per share, was also better than the $0.08 loss per share expected by analysts.

Fueling the stock's rally was Aspen's increased optimism for 2024. The company now expects full-year revenue of $450 million, up from its previous forecast of greater than $390 million. Aspen also raised its 2024 earnings guidance, projecting net income of $9 million and adjusted EBITDA of $90 million, well above prior estimates.

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Aspen also raised its 2024 earnings guidance, projecting net income of $9 million and adjusted EBITDA of $90 million, well above prior estimates.</p>\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"ASPN","symbol_name":"Aspen Aerogels","start_time":0,"source_url":"","article_id":"1146385510","we_media_id":"1086803395","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1146385510","pubTimestamp":1730971945,"columns":[],"sourceInfo":{"source_id":"ai_movement_en","name":"Stock Track"},"weMediaInfo":{"media_name":"Stock Track","introduction":"Track stock‘s movements and relevant news","home_visible":1,"id":"1086803395","head_image":"https://static.tigerbbs.com/a81accab1e7ee4144dc051f71903a390"},"summary":"Aspen Aerogels  stock surged over 7% in pre-market trading on Tuesday after the company reported impressive third-quarter 2024 financial results that exceeded expectations and raised its full-year guidance.For the third quarter, Aspen Aerogels posted revenue of $117.3 million, up a staggering 93% year-over-year and beating the consensus estimate of $109.4 million. 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