AeroVironment Q1 Earnings Beat
AeroVironment Inc (NASDAQ:AVAV) reported first‑quarter 2026 results that exceeded analyst expectations. Adjusted earnings per share were $0.59, surpassing the consensus estimate of $0.30 by $0.29. Revenue climbed to a record $480.5 million, representing a 6% increase from $454.7 million in the same quarter last year and beating the $459.89 million forecast. The stronger top line and higher gross margins, together with reduced operating expenses, narrowed the net loss to $5.1 million, or $0.10 per diluted share, compared with a loss of $67.4 million, or $1.44 per diluted share, a year earlier. Adjusted EBITDA for the quarter was $53.4 million, down from $56.6 million in Q1 fiscal 2026. Bookings totaled $0.7 billion and the book‑to‑bill ratio was 1.4. Funded backlog reached a record $1.5 billion as of August 1 2026, up 37% year‑over‑year from $1.2 billion on April 30 2026. Shares rose more than 4% in after‑hours trading following the announcement.
The company reaffirmed its full‑year fiscal 2027 guidance, projecting adjusted EPS in the range of $3.02 to $3.34 and revenue between $2.125 billion and $2.225 billion. The midpoint EPS guidance of $3.18 is slightly below the analyst consensus of $3.22, while the midpoint revenue guidance of $2.175 billion aligns closely with the consensus estimate of $2.19 billion.
"AV’s fiscal year 2027 is off to a strong start, with record first‑quarter revenue and funded backlog and landmark strategic wins," said Wahid Nawabi, chairman, president and chief executive officer. He added that the team is united in executing disciplined growth and capturing demand for key franchise programs.