Drone maker AeroVironment shares pop 20% on earnings beat
An unmanned aerial vehicle (UAV) at the AeroVironment Inc. booth during the Special Operations Forces Industry Conference (SOFIC) in Tampa, Florida, US, on Tuesday, May 17, 2022.
Luke Sharrett | Bloomberg | Getty Images
AeroVironment stock rocketed more than 20% higher Wednesday as the drone maker beat fourth quarter expectations on the top and bottom lines.
Here’s how the company did compared to analyst expectations:
- Earnings: $1.61 per share adjusted vs $1.39 per share expected
- Revenue: $275 million vs $242 million expected
The company reported financial results after market close Tuesday and logged record fiscal year revenue of $820.6 million, up 14% over the prior period.
AeroVironment reported net income of $16.66 million for the fourth quarter, or 59 cents per share, compared to net income of $6.05 million, or 22 cents per share, last year.
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