Reported October 23, Aspen Aerogels Provides Commercial And FY23 Financial Outlook Updates; Raises FY23 EPS Outlook From $(1.21)-$(1.07) To $(0.90)-$(0.76) Vs $(1.04) Est.; Raises FY23 Revenue Outlook From $200M-$250M To Greater Than $250M Vs 216.8M Est.
Portfolio Pulse from Benzinga Newsdesk
Aspen Aerogels (ASPN) has updated its FY23 financial outlook, raising its EPS outlook from $(1.21)-$(1.07) to $(0.90)-$(0.76) and its revenue outlook from $200M-$250M to greater than $250M. The company's operating plans remain unaffected by the UAW strike and re-timed OEM EV investments. Aspen has also converted a letter of intent with Audi into a vehicle platform PyroThin supply award and announced Scania as the brand of a previously unnamed award from the commercial vehicle division of the Volkswagen Group.
October 24, 2023 | 5:10 pm
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Aspen Aerogels has raised its FY23 financial outlook and announced new partnerships with Audi and Scania. This could potentially increase investor confidence and positively impact the company's stock price.
The raised financial outlook indicates that Aspen Aerogels is performing well and expects to continue doing so in the future. The new partnerships with Audi and Scania further demonstrate the company's growth and potential, which could attract more investors and drive up the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100