AeroVironment, Inc.’s (NASDAQ:AVAV) latest earnings are giving investors a fresh reason to look at drone stocks — and the ETFs that hold them.
• AeroVironment shares are powering higher. Why is AVAV stock up today?
Shares of the drone maker AeroVironment jumped more than 10% Thursday after the company reported record fiscal first-quarter revenue of $480.5 million, up 6% year over year and ahead of Wall Street estimates. Adjusted earnings came in at 59 cents per share, versus expectations of 24 cents.
More importantly, AeroVironment’s Autonomous Systems business generated $346 million in revenue, accounting for roughly 72% of total sales. The company also ended the quarter with a record $1.5 billion funded backlog, up 37% year over year.
Management expects fiscal 2027 revenue of $2.125 billion to $2.225 billion, broadly in line with the $2.195 billion analyst consensus.
