AeroVironment posts record quarterly revenue, issues FY2027 outlook
Investing.com -- AeroVironment reported record fiscal fourth-quarter revenue driven by acquisitions and strong demand for its defense technologies, while issuing fiscal 2027 guidance that points to continued top-line growth.
The defense technology company posted fourth-quarter revenue of $641.6 million for the period ended April 30, up 133% from a year earlier, while full-year revenue rose 141% to a record $1.98 billion. Annual bookings reached $2.7 billion, with a book-to-bill ratio of 1.4 and funded backlog increasing to $1.2 billion.
Chief Executive Wahid Nawabi said fiscal 2026 was a "transformational year," citing the completion of the BlueHalo acquisition, investments to diversify the company's portfolio, and its strongest financial performance to date. He said the company is positioned to benefit from growing global demand for lethal and non-lethal drones, counter-UAS, space and advanced technologies.
Quarterly net income rose to $63.2 million, or $1.25 per diluted share, from $16.7 million, or $0.59 per diluted share, a year earlier. Adjusted earnings per diluted share increased to $1.84 from $1.61, while adjusted EBITDA more than doubled to $140.1 million from $61.6 million.
Revenue growth was aided by the acquisitions of BlueHalo and Empirical Systems Aerospace, which contributed $282.3 million during the quarter. Gross margin declined to 32% from 36% due to a higher mix of service revenue following the BlueHalo acquisition and increased amortization related to purchase accounting.
For fiscal 2027, AeroVironment forecast revenue of $2.125 billion to $2.225 billion, adjusted EBITDA of $305 million to $325 million and adjusted earnings per diluted share of $3.02 to $3.34. On a GAAP basis, it expects earnings per diluted share of $0.16 to $0.48.