AeroVironment Inc (NASDAQ:AVAV) reported financial results for the first quarter of fiscal 2027 after the market close on Wednesday. Here’s a rundown of the report.
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AeroVironment Q1 Highlights
AeroVironment posted first-quarter revenue of $480.49 million, beating analyst estimates of $456.20 million, according to Benzinga Pro. The drone maker reported adjusted earnings of 59 cents per share for the quarter, beating estimates of 24 cents per share.
Total revenue was up 6% year-over-year, reflecting higher product sales and service revenue. Autonomous Systems accounted for $346 million in revenue, and the Space, Cyber and Directed Energy segment generated revenue of $134.5 million. AeroVironment said it had a funded backlog of $1.5 billion as of Aug. 1.
“Our customers are continuing to field autonomous capabilities at increasing scale, and our priority is expanding manufacturing capacity across our sites and strengthening our supply chain so we can deliver for our customers at the speed their missions require. We are excited for the opportunities ahead as we extend our track record of value creation for shareholders, customers and all stakeholders that rely on AV,” said Wahid Nawabi, chairman, president and CEO of AeroVironment.
AeroVironment guided for fiscal 2027 revenue of $2.125 billion to $2.225 billion. Analysts are forecasting revenue of $2.195 billion. The company also affirmed expectations for fiscal 2027 adjusted earnings of $3.02 to $3.34 per share versus estimates of $3.23 per share.
AeroVironment management will discuss the quarter on an earnings call with investors and analysts at 4:30 p.m. ET.
AVAV Shares Jump After Earnings
AVAV Price Action: AeroVironment shares were up 2.83% in after-hours, trading at $145.05at the time of publication on Wednesday, according to Benzinga Pro.
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