Aspen Aerogels reports Q1 adjusted EPS (6c), consensus (7c)

Reports Q1 revenue $78.72M, consensus $82.75M. “We continue to drive the key elements of our strategy by broadening our Thermal Barrier and Energy Industrial commercial activities, fortifying our supply chain, and optimizing our cost structure,” commented Don Young, Aspen’s president and CEO. “We are encouraged by the record-level quoting activity in our PyroThin thermal barrier business. The newest PyroThin award demonstrates our value in additional electric vehicle (“EV”) form factors and chemistries. Meanwhile, our Energy Industrial segment is now equipped with the supply needed to pursue additional geographies and end markets to drive incremental growth. A diversified supply chain and multiple aerogel manufacturing sources provide us with the flexibility to optimally meet customer demands across both business segments. Our recent and continuing actions to reduce fixed costs are an example of an ongoing focus on our financial performance and strong balance sheet.”