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AeroVironment Stock Jumps After Strong Drone Demand Drives Earnings Beat

A 40% climb in quarterly revenue to $275.1 million on surging military drone orders sealed a record $820.6 million in annual sales.

AeroVironment signage is seen during the Association of the United States Army annual meeting and exposition at the Walter E. Washington Convention Center in Washington, U.S., October 14, 2024. REUTERS/Nathan Howard/ File Photo
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AeroVironment is seeing robust demand for its drones, sending sales and its stock price surging.

Overview

  • AeroVironment’s shares climbed about 25% in early trading, marking the company’s largest daily rise since March 2024.
  • Adjusted earnings came in at $1.61 per share, topping analyst forecasts of $1.39.
  • Quarterly revenue rose 40% year-over-year to $275.1 million, surpassing the $241.6 million consensus estimate.
  • Full-year revenue reached a record $820.6 million, a 14% increase over the prior fiscal period.
  • Robust military drone orders driven by heightened defense spending have analysts forecasting continued growth in unmanned systems.