For the quarter ended July 2024, AeroVironment (AVAV) reported revenue of $189.48 million, up 24.4% over the same period last year. EPS came in at $0.89, compared to $1.00 in the year-ago quarter.The reported revenue represents a surprise of +2.84% over the Zacks Consensus Estimate of $184.26 million. With the consensus EPS estimate being $0.61, the EPS surprise was +45.90%.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street ...

Financial Data and Key Metrics Changes - Revenue for Q1 fiscal 2025 was $189.5 million, a 24% increase from $152.3 million in Q1 fiscal 2024, setting a new first-quarter revenue record for the company [7][20] - Adjusted gross margin for Q1 was 45%, consistent with the same period last year, while GAAP gross margins were 43% [24][25] - Adjusted EBITDA for Q1 was $37 million, flat compared to the previous year, as higher revenue and gross margin were offset by increased R&D and SG&A expenses [25][28] Business Segment Data and Key Metrics Changes - Uncrewed Systems (UxS) segment revenue was $120 million, a 22% increase from $98.2 million in the same quarter last year, driven by strong demand for the Puma franchise and JUMP 20 platforms [14][21] - Loitering Munition Systems (LMS) segment revenue reached $52 million, a 68% increase from $30.9 million in Q1 fiscal 2024, with significant contributions from Switchblade products [11][22] - MacCready Works segment revenue was $17.5 million, a decrease of 24% from $23.2 million in the same quarter last year, impacted by U.S. government delayed approvals [17][22] Market Data and Key Metrics Changes - The company is experiencing strong demand for its autonomous systems, particularly in the defense sector, with a robust pipeline of opportunities both domestically and internationally [10][31] - The U.S. Army's recent $1 billion IDIQ contract is expected to increase funded backlog in the coming quarters [8][30] - The company anticipates continued momentum in international demand for Switchblade and JUMP 20 solutions [31] Company Strategy and Development Direction - The company is focused on expanding production capacity to meet increasing demand, with plans to select an additional manufacturing location for Loitering Munition production [13][80] - The company aims to leverage its strong relationships with the U.S. Department of Defense and international customers to secure additional contracts and orders [10][76] - The strategic emphasis is on innovation in autonomous systems and enhancing manufacturing capabilities to support future growth [17][31] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving full-year guidance for fiscal 2025, supported by a healthy backlog and strong demand for autonomous solutions [30][31] - The company is optimistic about the potential for additional orders under the new IDIQ contract and expects to see progress payments that will improve cash flow [38][55] - Management highlighted the importance of international sales and the growing pipeline of opportunities, particularly for Switchblade products [72][76] Other Important Information - The company reported a total cash and investments amounting to $103 million at the end of Q1, an increase from $94.3 million at the end of the previous quarter [29] - Free cash flow during the quarter was $23 million, largely due to decreased inventories [29] Q&A Session Summary Question: How should we think about the task order timing and amounts under the IDIQ contract? - Management confirmed that the $1 billion IDIQ contract is expected to contribute to fiscal 2025 guidance, with initial task orders already booked [36][37] Question: Do you expect other releases or tranches during this fiscal year? - Management anticipates multiple additional Switchblade orders throughout the fiscal year, with a robust pipeline of opportunities [42][43] Question: What programs are associated with the $990 million Switchblade IDIQ? - The $990 million IDIQ contract is intended to fulfill various needs, including U.S. Army requirements and potential international sales [48][49] Question: Will the IDIQ contract help facilitate international sales? - Yes, the IDIQ contract is designed to accommodate international sales, improving the speed of the procurement process [74][76] Question: What is the current status of the FMS pipeline for Switchblade? - The company is engaged with over 50 countries, with a growing number of active customers in the pipeline [70][72]

AeroVironment (AVAV) came out with quarterly earnings of $0.89 per share, beating the Zacks Consensus Estimate of $0.61 per share. This compares to earnings of $1 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 45.90%. A quarter ago, it was expected that this maker of unmanned aircrafts would post earnings of $0.21 per share when it actually produced earnings of $0.43, delivering a surprise of 104.76%.Over the last four quarte ...

Slide 1 | © 2024 AeroVironment, Inc. First Quarter Fiscal Year 2025 Earnings Presentation September 4, 2024 Safe Harbor Statement Factors that could cause actual results to differ materially from the forward-looking statements include, but are not limited to, the impact of our ability to successfully close and integrate acquisitions into our operations and avoid disruptions from acquisition transactions that will harm our business; the recording of goodwill and other intangible assets as part of acquisition ...

Exhibit 99.1 FISCAL 2025 FIRST QUARTER RESULTS AeroVironment Announces Fiscal 2025 First Quarter Results ARLINGTON, VA, September 4, 2024 — AeroVironment, Inc. ("AeroVironment" or the "Company") reported today financial results for the fiscal first quarter ended July 27, 2024. First Quarter Highlights: ● Record first quarter revenue of $189.5 million up 24% year-over-year ● First quarter net income of $21.2 million and adjusted EBITDA of $37.2 million ● In August 2024 awarded U.S. Army Lethal Unmanned Syste ...

Subscribers to Chart of the Week received this commentary on Sunday, September 1.Last week, venture capitalist Y Combinator—the money behind Twitch, DoorDash (DASH), and Dropbox (DBX) – began the backing of Ares Industries, a defense company that builds cruise missiles. Silicon Valley and the military historically go together like oil and water. But follow the money and it makes sense; the aerospace and defense sector are poised for robust growth in the next decade.It’s a troubled topic, but the iShares U.S ...

The upcoming report from AeroVironment (AVAV) is expected to reveal quarterly earnings of $0.61 per share, indicating a decline of 39% compared to the year-ago period. Analysts forecast revenues of $184.26 million, representing an increase of 20.9% year over year.The consensus EPS estimate for the quarter has remained unchanged over the last 30 days. This represents how the covering analysts, as a whole, have reassessed their initial estimates during this timeframe.Ahead of a company's earnings disclosure, ...

Core Viewpoint - AeroVironment, Inc. has secured a significant military contract from the U.S. Army valued at over $1 billion, marking a transformative moment for the company and enhancing its growth outlook [2][4][13] Contract Details - The contract is a record for AeroVironment, as typical military contracts are usually in the millions range, and it is expected to boost the company's growth rate and EBITDA margins towards the 20% range [2][4] - The contract involves providing capabilities to dismounted infantry formations, primarily focusing on the production of the Switchblade drone, which is designed to neutralize targets with minimal collateral damage [4][5] Financial Impact - The contract is anticipated to significantly increase AeroVironment's backlog growth, which has historically been in the millions, thus changing the company's financial trajectory [5] - Management has indicated that current manufacturing levels can support over $500 million in annual product revenue, with plans for further capacity growth due to rising demand for the Switchblade [5][7] Growth Projections - The company is expected to achieve at least 17% growth rates in its top line over the coming years, driven by a stronger backlog and increased demand from allied forces [9][10] - EBITDA margins are projected to expand by at least 1%, indicating a minimum of 20% growth in adjusted EBITDA [9][10] Upcoming Earnings Report - The Q1 FY25 earnings report is anticipated to provide an upgraded outlook from management, with consensus estimates predicting earnings per share of 65 cents on revenues of $188 million, reflecting a year-over-year growth of approximately 23% [11][12] - The market will be closely watching for any updates on the fixed-price component of the $1 billion contract, as AeroVironment was the sole bidder for this deal [12]

The drone maker just won its biggest Army contract ever.AeroVironment (AVAV 14.07%) stock took off like a rocket Wednesday morning, rising by 16.5% through 10:15 a.m. ET, after the Pentagon announced the company's single biggest contract win ever.The news led Tuesday night's press release listing the biggest Defense Department contracts awarded that day: $990 million awarded to AeroVironment "to provide an organic, stand-off capability to dismounted infantry formations capable of destroying tanks, light arm ...

In the latest trading session, AeroVironment (AVAV) closed at $177.76, marking a +0.21% move from the previous day. The stock's performance was ahead of the S&P 500's daily gain of 0.16%. On the other hand, the Dow registered a gain of 0.02%, and the technology-centric Nasdaq increased by 0.16%.Coming into today, shares of the maker of unmanned aircrafts had gained 1.28% in the past month. In that same time, the Aerospace sector gained 2.37%, while the S&P 500 gained 2.97%.The investment community will be p ...