AeroVironment Q4 Revenues Beat Street, FY24 Outlook Strong

(RTTNews) - AeroVironment, Inc. (AVAV) on Tuesday reported fourth-quarter results, with revenue beating the Street estimates and a strong fiscal year 2024 outlook. Shares climbed 5% in after-hours trading.

Tuesday, the stock was trading at $95.65 in the after-hours, up 5.90% or $5.33 a share, on the Nasdaq.

The company reported a net loss of $160.47 million or $6.31 per share for the quarter, compared to the income of $7.25 million or $0.29 per share the prior year.

The company reported adjusted earnings of $0.99 per share, which missed average estimates of $1.01 per share.

Revenue for the fourth quarter increased to $186.0 million from $132.6 million the previous year. It beat the consensus estimate of $164.12 million.

For the full year, the company sees earnings of $2.30 to $2.60 per share, compared to the consensus of earnings per share of $2.04. Revenue is expected to be between $630 million and $660 million, compared to the consensus of $600.24 million.