By Elias Schisgall
AeroVironment reported a higher profit as revenue more than doubled during the fiscal fourth quarter.
The drone maker on Monday reported a profit of $63.2 million, or $1.25 a share, for the quarter ended April 30. That compares with a profit of $16.7 million, or 59 cents a share, a year earlier.
Stripping out certain one-time items, the company reported adjusted earnings of $1.84 a share, beating the $1.46 a share analysts were expecting, according to FactSet.
Revenue rose to $641.6 million from $275.1 million a year prior. Analysts surveyed by FactSet were expecting $556 million. The company attributed its revenue growth to higher product sales and service revenue compared to the same period last year.
"AV is well-positioned to capture the rising global demand across lethal and non-lethal drones, counter-UAS, space and advanced technologies and deliver long-term shareholder value," Chief Executive Officer Wahid Nawabi said.
The company ended the quarter with a funded backlog of $1.2 billion, up from $726.6 million as of April 30, 2025.
For the new fiscal year, the company is expecting adjusted earnings of between $3.02 and $3.34 a share on revenue between $2.13 billion and $2.23 billion.
Analysts polled by FactSet are expecting full-year adjusted earnings of $3.84 a share on $2.16 billion in revenue.
The company's acquisitions of BlueHalo and Empirical Systems Aerospace have added $282.3 million to revenue during the current first quarter, the company said.
Shares in AeroVironment climbed 12% to $156.00 after-hours trading on Monday. The stock closed up 0.8% at $139.00, down 43% this year.
Write to Elias Schisgall at [email protected]