AeroVironment Q3 Earnings: Revenue Beat, EPS Beat, 'Increased Global Demand' And More
Portfolio Pulse from Adam Eckert
AeroVironment Inc (NASDAQ:AVAV) reported a significant beat on both revenue and EPS for its fiscal third quarter, with a 39% year-over-year increase in revenue to $186.6 million and earnings of 63 cents per share. The company highlighted increased global demand, a strong backlog, and record revenue in the Loitering Munition Systems segment as key drivers. AeroVironment expects full-year 2024 revenue between $700 million and $710 million and adjusted earnings per share between $2.69 and $2.83, indicating continued growth.
March 04, 2024 | 9:37 pm
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AeroVironment reported strong fiscal Q3 results with a significant revenue and EPS beat, driven by increased global demand and record revenue in the Loitering Munition Systems segment. The company's positive outlook for FY2024 suggests continued growth.
AeroVironment's fiscal Q3 earnings beat, coupled with a strong revenue outlook for FY2024, indicates a positive trajectory for the company. The reported increase in global demand and a strong backlog support the expectation of continued growth, likely leading to a positive short-term impact on AVAV's stock price.
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