Drone maker reports $1.84 EPS and $642 million revenue, beating analyst forecasts and lifting backlog to $1.2 billion.
AeroVironment shares jumped 17% after reporting fourth-quarter earnings of $1.84 per share, surpassing the $1.46 estimate. Revenue more than doubled to $642 million, exceeding the $559 million forecast.
The company’s funded backlog rose 65% year-over-year to $1.2 billion, slightly above the prior period’s $1.1 billion. Autonomous systems revenue reached $492 million, well above the $402 million expectation.
CEO Wahid Nawabi attributed growth to rising global demand for drones and counter-drone technology, citing recent conflicts as a catalyst for increased adoption.