AeroVironment gains on record revenue, backlog and profit beat
+4.45% to $147.06 from $140.80
What moved AVAV
- Fiscal first-quarter revenue rose 6% year over year to a record $480.5 million, above the $456.1 million analyst consensus, driven by the autonomous systems segment.
- Adjusted earnings per share of $0.59 rose 84% year over year and beat the $0.25 consensus estimate.
- Funded backlog reached a record $1.5 billion, up 37% year over year and 23% from the prior quarter, with total funded and unfunded backlog of about $2.8 billion and a book-to-bill ratio of 1.4 times.
- Company executives said laser-weapons systems could become a flagship franchise rivaling AeroVironment’s biggest existing businesses.
Sources: The Motley Fool · MarketBeat · Benzinga