What's Going On With AeroVironment Stock?

AeroVironment Inc AVAV reported second-quarter financial results after the close on Tuesday. Here are the key metrics from the quarter.

• Q2 Revenue: $180.8 million beat estimates of $170.91 million
• Q2 EPS: 97 cents beat estimates of 62 cents

Revenues were up 62% on a year-over-year basis. The company ended the quarter with a funded backlog of $487 million versus $424.1 million at the end of the first quarter.

"Our results exceeded expectations, underscored by the highest second quarter revenue in company history combined with strong bottom-line performance," said Wahid Nawabi, chairman, president, and CEO of AeroVironment. 

"Sales rose significantly year-over-year, reflecting increasing demand, strong operational execution and effective supply chain management."

Outlook: AeroVironment sees full-year 2024 revenue in the range of $685 million to $705 million versus estimates of $676.6 million. The company anticipates full-year earnings of $2.46 to $2.70 per share versus estimates of $2.72 per share. 

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AVAV Price Action: AeroVironment shares were up 0.02% after hours at $141.25 at the time of publication, according to Benzinga Pro.

Photo: courtesy of AeroVironment.