AeroVironment Stock Drops After Earnings. Why Record Sales Aren’t Helping the Drone Maker.

For the fiscal second quarter ended Nov. 1, AeroVironment announced record sales of $472.5 million, up 151% year over year. That includes revenue for the recently acquired BlueHalo. Comparable sales were up an impressive 21% year over year. Wall Street was looking for revenue of $469 million. Sales beat estimates. Earnings per share didn't appear to exceed analyst estimates, but there was a bevy of charges related to the BlueHalo acquisition. Adjusted earnings per share were about 44 cents. Wall Street was ...