AeroVironment: Third Quarter Financial Results Overview

AeroVironment Reports Third Quarter Financial Results

AeroVironment Inc., headquartered in Arlington, Virginia, announced on Tuesday that it experienced a net loss of $156.6 million during its fiscal third quarter.

The company reported a per-share loss of $3.15. After adjusting for amortization and asset impairment charges, adjusted earnings stood at 64 cents per share.

These figures fell short of analyst projections. According to a survey by Zacks Investment Research involving seven analysts, the consensus estimate was 68 cents per share.

The unmanned aircraft manufacturer generated $408 million in revenue for the quarter, which also missed expectations. Six analysts polled by Zacks had anticipated revenue of $473 million.

Looking ahead, AeroVironment forecasts full-year earnings between $2.75 and $3.10 per share, with projected revenue ranging from $1.85 billion to $1.95 billion.

Since the start of the year, AeroVironment’s stock has slipped by just over 8%. However, by the close of trading on Tuesday, shares reached $221.57, marking an 80% increase over the past year.