Why AeroVironment Stock Is Rising Today
Portfolio Pulse from Adam Eckert
AeroVironment Inc (NASDAQ:AVAV) shares rose after reporting Q3 financial results that exceeded expectations, with revenue of $186.6 million and EPS of 63 cents, surpassing estimates. The company also provided an optimistic outlook for FY 2024, expecting revenue between $700 million and $710 million and adjusted earnings between $2.69 and $2.83 per share. AeroVironment's growth is driven by strong demand, particularly in the Loitering Munition Systems segment, and a solid funded backlog of $462.8 million.
March 05, 2024 | 2:47 pm
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AeroVironment reported strong Q3 earnings, surpassing revenue and EPS estimates, and provided an optimistic FY 2024 revenue and earnings outlook. The company's growth is supported by high demand and a significant funded backlog.
AeroVironment's stock is likely to experience short-term positive momentum due to its better-than-expected Q3 financial performance and optimistic future revenue and earnings guidance. The company's strong demand, particularly in the Loitering Munition Systems segment, and a significant funded backlog, are key drivers of growth, making this news highly relevant and important to investors.
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