NiseriN/iStock via Getty Images In May 2023, I started coverage for AeroVironment (NASDAQ:AVAV) stock after the company had just been eliminated from the FTUAS (Future Tactical Unmanned Aerial System) program. At the time, I saw the elimination as a risk to sustained growth for the company and combined with the high EV/EBITDA relative to peers, I put a hold rating on AVAV stock. The stock, however, has performed well, gaining 84% vs. a 22.7% return for the broader markets. In July 2023, I accepted the eleva ...

Key TakeawaysAeroVironment shares soared to a record high Tuesday as the maker of technology for drones, missiles and other military applications posted better-than-expected quarterly results.Quarterly profit was nearly double estimates, and revenue beat forecasts, too.The company raised and narrowed its full-year revenue guidance. Shares of AeroVironment (AVAV) flew to a record high Tuesday as the maker of technology for drones, missiles, and other military applications posted better-than-expected quarterl ...

The defense and aerospace market is ripe for growth. The defense industry is expected to be worth over $1 trillion by 2027, thanks to increased government spending and investment in advanced technologies. This allows investors to enter the industry while it has room to grow. This article will cover three defense stocks investors can buy that benefit from bigger government budgets and new contracts. These companies produce aircraft, vehicles, weapons, communications and other defense-related equipment. They ...

Core Insights - AeroVironment experienced significant growth in its latest quarter, with a 39% year-over-year revenue increase, reaching $186.6 million, and earnings per share of $0.63, surpassing Wall Street expectations [2][3] - The company raised its full-year revenue guidance to between $700 million and $710 million, reflecting strong demand and operational execution [2] - AeroVironment's net cash from operations increased to $26.9 million, up from $8.6 million a year ago, indicating improved financial health [3] Company Performance - The demand for AeroVironment's uncrewed aerial vehicles (UAVs) has surged, particularly due to their effectiveness demonstrated in the Ukraine conflict [2] - The Loitering Munition Systems segment achieved record revenue, contributing to the overall strong performance [2] - The company has a funded backlog of $462.8 million, indicating future growth potential [3] Market Position - AeroVironment's stock rose 28% to an all-time high, reflecting investor confidence in the company's growth trajectory [1] - The company is trading at an enterprise value of 28 times projected EBITDA, suggesting that much of the anticipated growth may already be priced in [3][4] - The defense industry is characterized by traditional income generators, making AeroVironment a unique player with significant growth potential [4]

AeroVironment, Inc. (NASDAQ:AVAV) Q3 2024 Earnings Conference Call March 4, 2024 4:30 PM ET Company Participants Jonah Teeter-Balin - Senior Director of Corporate Development & IR Wahid Nawabi - Chairman, President & CEO Kevin McDonnell - SVP & CFO Conference Call Participants Peter Arment - Baird Greg Konrad - Jefferies Peter Skibitski - Alembic Global Louie DiPalma - William Blair Stephen Strackhouse - RBC Capital Markets Operator Good day, and thank you for standing by. Welcome to the AeroVironment Fisca ...

AeroVironment (AVAV) reported $186.58 million in revenue for the quarter ended January 2024, representing a year-over-year increase of 38.8%. EPS of $0.63 for the same period compares to $0.33 a year ago.The reported revenue represents a surprise of +10.59% over the Zacks Consensus Estimate of $168.72 million. With the consensus EPS estimate being $0.32, the EPS surprise was +96.88%.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to d ...

AeroVironment (AVAV) came out with quarterly earnings of $0.63 per share, beating the Zacks Consensus Estimate of $0.32 per share. This compares to earnings of $0.33 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 96.88%. A quarter ago, it was expected that this maker of unmanned aircrafts would post earnings of $0.67 per share when it actually produced earnings of $0.97, delivering a surprise of 44.78%.Over the last four quar ...

Third Quarter Fiscal Year 2024 Earnings Presentation March 4, 2024 Slide 1 | © 2024 AeroVironment, Inc. Safe Harbor Statement This press release contains "forward-looking statements" as that term is defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements include, without limitation, any statement that may predict, forecast, indicate or imply future results, performance or achievements, and may contain words such as “believe,” “anticipate,” “expect,” “estimate,” “intend,” ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934. For the quarterly period ended January 27, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-33261 AEROVIRONMENT, INC. (Exact name of registrant as specified in its charter) Delaware 95-2705790 (State or other ...

Financial Performance Projections - Net income for the fiscal year ending April 30, 2024 is projected to be between $51 million and $55 million, compared to a net loss of $176 million in the previous fiscal year[33] - Adjusted EBITDA (Non-GAAP) for the fiscal year ending April 30, 2024 is expected to be between $122 million and $127 million, up from $90 million in the previous fiscal year[33] Expense Projections - Depreciation and amortization expenses are projected to decrease significantly to $36 million in fiscal 2024, down from $100 million in fiscal 2023[33] - Stock-based compensation is expected to increase to $17 million in fiscal 2024, up from $11 million in the previous year[33] - Interest expense is projected to decrease to $5 million in fiscal 2024, down from $9 million in fiscal 2023[33] - Provision for income taxes is expected to be between $3 million and $4 million in fiscal 2024, compared to a benefit of $15 million in the previous fiscal year[33] - Acquisition-related expenses are expected to double to $2 million in fiscal 2024, compared to $1 million in the previous fiscal year[33] Impairment and Investments - The company incurred a goodwill impairment charge of $156 million in fiscal 2023, with no similar charge projected for fiscal 2024[33] - Equity method and equity securities investments activity is projected to increase to $7 million in fiscal 2024, up from $3 million in fiscal 2023[33] Non-GAAP Measures - The company emphasizes the importance of non-GAAP measures for evaluating long-term profitability trends and comparing performance with peers[35]