Arq Restructures Finance Organization, Promotes Anthony Nathan to VP Finance
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Mar 09 2026
0mins
Should l Buy ARQ?
The company has made changes to its finance organization. Jay Voncannon will no longer serve as the company's CFO, effective immediately. Anthony Nathan, who brings eight years of experience with Arq including oversight of all recent equity and credit financings and the Arq Limited/ADES combination, has been promoted to VP Finance, where he will oversee strategic planning, financial analysis, budgeting and investor relations. Stacia Hansen continues in her role as Chief Accounting Officer and will also serve as the company's principal financial officer.
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Analyst Views on ARQ
Wall Street analysts forecast ARQ stock price to rise
3 Analyst Rating
3 Buy
0 Hold
0 Sell
Strong Buy
Current: 2.360
Low
7.50
Averages
7.75
High
8.00
Current: 2.360
Low
7.50
Averages
7.75
High
8.00
About ARQ
Arq, Inc. is a diversified environmental technology. The Company is a vertically integrated producer of activated carbon products in North America. It is engaged in the sale of consumable air, water, and soil treatment solutions, primarily based on activated carbon (AC). It manufactures and sells AC and other chemicals used to capture and remove impurities, contaminants and pollutants for the coal-fired power generation, industrial, water treatment, and water and soil remediation markets, which it collectively refers to as the advanced purification technologies (APT) market. Its AC products include both powdered activated carbon and granular activated carbon. It also owns the Five Forks Mine, a lignite coal mine that supplies the primary raw material for the manufacturing of its products. Its products are used to purify contaminated liquid, soil, and gas streams from a variety of industrial sources, including wastewater treatment plants, coal-fired power plants and other end markets.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Pomerantz LLP Investigates Securities Fraud Claims Against Arq, Inc.
- Earnings Miss: Arq, Inc. reported a GAAP loss per share of $1.20 for Q4 2025, missing analyst estimates by $1.14, indicating a significant deterioration in financial health that could undermine investor confidence.
- Lowered Revenue Guidance: The company provided 2026 revenue guidance of $120 million to $125 million, well below the consensus estimate of $136.9 million, reflecting uncertainty in its business outlook that may impact future financing capabilities.
- Production Project Halted: Arq's CEO announced a pause on the granular activated carbon production project to conduct a comprehensive engineering and production process optimization review, lacking a firm timeline for completion, which could lead to production delays and loss of market share.
- Stock Price Plunge: Following the earnings report, Arq's stock price fell by $1.56, or 48.75%, closing at $1.64, indicating strong market concerns about the company's future prospects and potentially triggering further investor lawsuits.
See More
Kayne Anderson Executives Increase Stock Holdings
- KYN Executive Purchase: Kayne Anderson MLP Investment's President James C. Baker purchased 25,000 shares of KYN at $13.99 each for a total investment of $349,642, currently up about 2.2%, indicating confidence in the company's future performance.
- Baker's Historical Investments: Over the past 12 months, Baker has made six purchases of KYN totaling $1.80 million at an average cost of $12.01 per share, demonstrating a sustained belief in the company's long-term value.
- ARQ Director Purchase: ARQ's Director Richard Campbell-Breeden bought 150,000 shares at $2.21 each for a total investment of $331,665, reflecting confidence in the company's growth prospects.
- Campbell-Breeden's Historical Investments: In the past year, Campbell-Breeden has made two additional purchases of ARQ totaling $408,987 at an average cost of $3.95 per share, currently up about 13.9%, showcasing his positive outlook on ARQ.
See More
Arq, Inc. Faces Investigation Over GAC Production Pause
- Production Halt Impact: On March 9, 2026, Arq, Inc. announced a pause in GAC production to conduct a comprehensive engineering and production process optimization review, leading to no expected GAC production in fiscal year 2026, which could significantly reduce the company's revenue.
- Stock Price Plunge: Following the production halt announcement, Arq's stock price plummeted from $3.20 to $1.64, a decline of 48.8%, indicating extreme market pessimism regarding the company's future prospects.
- Legal Investigation Initiated: The law firm Kirby McInerney LLP is investigating potential violations of federal securities laws by Arq and its senior management, with no lawsuits filed yet, as the investigation is ongoing.
- Investor Rights Protection: The law firm is urging investors who purchased or acquired Arq securities to provide information to discuss their rights and interests, demonstrating a commitment to protecting investor rights and interests.
See More
Arq, Inc. Under Investigation Amid Significant Stock Drop
- Financial Performance Decline: Arq, Inc. reported a GAAP loss per share of $1.20 for Q4 2025, missing analyst expectations by $1.14, indicating a severe deterioration in financial health that could undermine investor confidence.
- Revenue Guidance Miss: The company provided 2026 revenue guidance of $120 million to $125 million, significantly below the consensus estimate of $136.9 million, reflecting uncertainty in future performance and potentially leading to further stock price declines.
- Production Project Halted: Arq's CEO announced a pause on the granular activated carbon production project to conduct a comprehensive engineering and production process optimization review, lacking a firm timeline for completion, which may impact the company's long-term strategy and market competitiveness.
- Stock Price Plunge: Following the financial report and production halt announcement, Arq's stock price fell by $1.56, or 48.75%, closing at $1.64 on March 10, 2026, indicating strong market concerns regarding the company's outlook.
See More
Pomerantz LLP Investigates Securities Fraud Claims Against Arq, Inc.
- Earnings Miss: Arq reported a GAAP loss per share of $1.20 for Q4 2025, missing analyst estimates by $1.14, indicating significant financial distress that could undermine investor confidence.
- Revenue Guidance Cut: The company issued 2026 revenue guidance of $120 million to $125 million, well below the consensus estimate of $136.9 million, suggesting severe market challenges that may lead to further stock price declines.
- Project Suspension: Arq's CEO announced a pause on the granular activated carbon production project to conduct a comprehensive engineering and production process optimization review, lacking a firm timeline for completion, which could impact the company's long-term strategy and market competitiveness.
- Stock Price Plunge: Following the earnings report, Arq's stock price fell by $1.56, or 48.75%, closing at $1.64, reflecting a pessimistic outlook from the market regarding the company's future prospects, potentially shaking investor confidence further.
See More
Arq, Inc. Pauses GAC Production Plans Amid Strategic Shift
- Strategic Shift: CEO Robert Rasmus announced a pause in granular activated carbon (GAC) production to conduct a comprehensive engineering and production process optimization review, indicating no GAC production in 2026 due to design flaws and unresolved technical challenges, which may impact the company's future market competitiveness.
- Financial Loss: The company recorded a $45 million write-down on Corbin assets this quarter, reflecting operational idling due to the switch to purchasing bituminous coal for GAC feedstock; although this is a non-cash charge, it still exerts pressure on financial health with a net loss of $50 million.
- Revenue Growth: The PAC business achieved approximately $120 million in full-year revenue, a 10% year-over-year increase, with adjusted EBITDA of $13.2 million, representing a 26% improvement over 2024, demonstrating stability and profitability in core operations despite the GAC project's suspension potentially affecting future growth.
- 2026 Outlook: Management provided its first-ever financial guidance for 2026, projecting revenue between $120 million and $125 million and adjusted EBITDA of $17 million to $20 million, reflecting confidence in the PAC business, although the lack of GAC contribution may limit overall growth potential.
See More
Pomerantz LLP Investigates Securities Fraud Claims Against Arq, Inc.
- Earnings Miss: Arq, Inc. reported a GAAP loss per share of $1.20 for Q4 2025, missing analyst estimates by $1.14, indicating a significant deterioration in financial health that could undermine investor confidence.
- Lowered Revenue Guidance: The company provided 2026 revenue guidance of $120 million to $125 million, well below the consensus estimate of $136.9 million, reflecting uncertainty in its business outlook that may impact future financing capabilities.
- Production Project Halted: Arq's CEO announced a pause on the granular activated carbon production project to conduct a comprehensive engineering and production process optimization review, lacking a firm timeline for completion, which could lead to production delays and loss of market share.
- Stock Price Plunge: Following the earnings report, Arq's stock price fell by $1.56, or 48.75%, closing at $1.64, indicating strong market concerns about the company's future prospects and potentially triggering further investor lawsuits.
See More
Kayne Anderson Executives Increase Stock Holdings
- KYN Executive Purchase: Kayne Anderson MLP Investment's President James C. Baker purchased 25,000 shares of KYN at $13.99 each for a total investment of $349,642, currently up about 2.2%, indicating confidence in the company's future performance.
- Baker's Historical Investments: Over the past 12 months, Baker has made six purchases of KYN totaling $1.80 million at an average cost of $12.01 per share, demonstrating a sustained belief in the company's long-term value.
- ARQ Director Purchase: ARQ's Director Richard Campbell-Breeden bought 150,000 shares at $2.21 each for a total investment of $331,665, reflecting confidence in the company's growth prospects.
- Campbell-Breeden's Historical Investments: In the past year, Campbell-Breeden has made two additional purchases of ARQ totaling $408,987 at an average cost of $3.95 per share, currently up about 13.9%, showcasing his positive outlook on ARQ.
See More
Arq, Inc. Faces Investigation Over GAC Production Pause
- Production Halt Impact: On March 9, 2026, Arq, Inc. announced a pause in GAC production to conduct a comprehensive engineering and production process optimization review, leading to no expected GAC production in fiscal year 2026, which could significantly reduce the company's revenue.
- Stock Price Plunge: Following the production halt announcement, Arq's stock price plummeted from $3.20 to $1.64, a decline of 48.8%, indicating extreme market pessimism regarding the company's future prospects.
- Legal Investigation Initiated: The law firm Kirby McInerney LLP is investigating potential violations of federal securities laws by Arq and its senior management, with no lawsuits filed yet, as the investigation is ongoing.
- Investor Rights Protection: The law firm is urging investors who purchased or acquired Arq securities to provide information to discuss their rights and interests, demonstrating a commitment to protecting investor rights and interests.
See More
Arq, Inc. Under Investigation Amid Significant Stock Drop
- Financial Performance Decline: Arq, Inc. reported a GAAP loss per share of $1.20 for Q4 2025, missing analyst expectations by $1.14, indicating a severe deterioration in financial health that could undermine investor confidence.
- Revenue Guidance Miss: The company provided 2026 revenue guidance of $120 million to $125 million, significantly below the consensus estimate of $136.9 million, reflecting uncertainty in future performance and potentially leading to further stock price declines.
- Production Project Halted: Arq's CEO announced a pause on the granular activated carbon production project to conduct a comprehensive engineering and production process optimization review, lacking a firm timeline for completion, which may impact the company's long-term strategy and market competitiveness.
- Stock Price Plunge: Following the financial report and production halt announcement, Arq's stock price fell by $1.56, or 48.75%, closing at $1.64 on March 10, 2026, indicating strong market concerns regarding the company's outlook.
See More
Pomerantz LLP Investigates Securities Fraud Claims Against Arq, Inc.
- Earnings Miss: Arq reported a GAAP loss per share of $1.20 for Q4 2025, missing analyst estimates by $1.14, indicating significant financial distress that could undermine investor confidence.
- Revenue Guidance Cut: The company issued 2026 revenue guidance of $120 million to $125 million, well below the consensus estimate of $136.9 million, suggesting severe market challenges that may lead to further stock price declines.
- Project Suspension: Arq's CEO announced a pause on the granular activated carbon production project to conduct a comprehensive engineering and production process optimization review, lacking a firm timeline for completion, which could impact the company's long-term strategy and market competitiveness.
- Stock Price Plunge: Following the earnings report, Arq's stock price fell by $1.56, or 48.75%, closing at $1.64, reflecting a pessimistic outlook from the market regarding the company's future prospects, potentially shaking investor confidence further.
See More
Arq, Inc. Pauses GAC Production Plans Amid Strategic Shift
- Strategic Shift: CEO Robert Rasmus announced a pause in granular activated carbon (GAC) production to conduct a comprehensive engineering and production process optimization review, indicating no GAC production in 2026 due to design flaws and unresolved technical challenges, which may impact the company's future market competitiveness.
- Financial Loss: The company recorded a $45 million write-down on Corbin assets this quarter, reflecting operational idling due to the switch to purchasing bituminous coal for GAC feedstock; although this is a non-cash charge, it still exerts pressure on financial health with a net loss of $50 million.
- Revenue Growth: The PAC business achieved approximately $120 million in full-year revenue, a 10% year-over-year increase, with adjusted EBITDA of $13.2 million, representing a 26% improvement over 2024, demonstrating stability and profitability in core operations despite the GAC project's suspension potentially affecting future growth.
- 2026 Outlook: Management provided its first-ever financial guidance for 2026, projecting revenue between $120 million and $125 million and adjusted EBITDA of $17 million to $20 million, reflecting confidence in the PAC business, although the lack of GAC contribution may limit overall growth potential.
See More
