Sees FY26 Adjusted EBITDA of $17M-$20M
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Mar 09 2026
0mins
Should l Buy ARQ?
Sees FY26 adjusted EBITDA $17M-$20M. These projections assume no GAC contribution given the strategic operational changes outlined.
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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: 2.270
Low
7.50
Averages
7.75
High
8.00
Current: 2.270
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.
- Poor Financial Performance: Arq, Inc. reported a net loss of $0.7 million and an EPS of -$0.01 in its Q3 2025 results, missing consensus estimates and indicating severe financial distress for the company.
- Capacity Issues Impact: The company's granular activated carbon (GAC) facility in Corbin, Kentucky operated well below capacity due to design flaws, with management now expecting to reach full capacity only by mid-2026, further weakening financial results.
- Significant Stock Price Drop: Following the disappointing financial results on November 6, 2025, Arq's stock price plummeted by $2.25, or 35.4%, closing at $4.10 per share, severely harming investor interests.
- Production Plan Suspension: On March 9, 2026, Arq announced a pause in its GAC production project for a comprehensive engineering review, resulting in no GAC production for 2026, which caused another stock price decline of $1.56, or 48.8%, to close at $1.64 per share.
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- 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, which means no GAC production is expected in fiscal year 2026, potentially leading to a significant revenue decline for the company.
- Stock Price Plunge: Following the production halt announcement, Arq's stock price plummeted from $3.20 to $1.64 per share, representing a 48.8% drop, indicating extreme pessimism in the market regarding the company's future prospects.
- Legal Investigation Initiated: The law firm Kirby McInerney LLP is investigating possible violations of federal securities laws by Arq and its senior management, with no lawsuits filed yet, but the investigation's outcome could impact the company's reputation and shareholder rights.
- Investor Rights Protection: The law firm is urging investors who purchased or acquired Arq securities to provide information to discuss their rights and interests in this matter, highlighting the importance of protecting investor rights amidst ongoing legal scrutiny.
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- Financial Performance Decline: Arq reported a GAAP loss per share of $1.20 for Q4 2025, significantly missing analyst expectations by $1.14, indicating substantial challenges in profitability that may erode investor confidence.
- Revenue Guidance Miss: The company provided 2026 revenue guidance of $120 million to $125 million, well below the consensus estimate of $136.9 million, reflecting uncertainty in future growth prospects that could impact shareholder investment decisions.
- 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 further disadvantage the company in market competition.
- Stock Price Plummet: Following the financial disclosures, Arq's stock price fell by $1.56, or 48.75%, closing at $1.64 on March 10, 2026, indicating strong market concerns about the company's outlook and potentially triggering more legal actions from investors.
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- 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.
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- 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.
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- 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.
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