AeroVironment (AVAV) to Post Q3 Earnings: What's in the Cards?
AeroVironment AVAV is slated to report third-quarter fiscal 2024 results on Mar 4, after the closing bell.
Its earnings surpassed the Zacks Consensus Estimate by 44.78% in the last reported quarter. Moreover, it delivered a trailing four-quarter average earnings surprise of 47.23%.
Factors to Note
Solid product sales from AVAV’s Unmanned Systems (“UMS”) business segment, backed by a strong backlog count earned in the prior quarters, must have bolstered the company’s fiscal third-quarter revenues. Higher revenues, as a result of the company’s Tomahawk robotics acquisition, can be expected to have added an impetus to AVAV’s top-line performance in the soon-to-be-reported quarter.
AeroVironment, Inc. Price and EPS Surprise
AeroVironment, Inc. price-eps-surprise | AeroVironment, Inc. Quote
However, lower levels of UMS service revenues might have had some adverse impact on the company’s overall quarterly revenue growth.
On the earnings front, record demand, strong operating execution and effective supply-chain management are projected to have favorably contributed to AVAV’s fiscal third-quarter bottom line. However, higher selling, general and administrative expenses, along with the company’s incremental investments in research and development, might have weighed on its overall earnings performance.
Q3 Expectations
The Zacks Consensus Estimate for AVAV’s fiscal third-quarter sales is pegged at $168.7 million, indicating an improvement of 25.5% from the prior-year reported figure.
The Zacks Consensus Estimate for fiscal third-quarter earnings is pinned at 32 cents per share, indicating a decline of 3% from the prior-year quarter’s reported actuals.
What the Zacks Model Unveils
Our proven model does not conclusively predict an earnings beat for AeroVironment this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat, which is not the case here.
Earnings ESP: AVAV has an Earnings ESP of 0.00%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: It carries a Zacks Rank #3 at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
Upcoming Defense Releases
VirTra VTSI delivered an average earnings surprise of 296.46% in the last four quarters. The Zacks Consensus Estimate for VirTra’s fourth-quarter sales is pegged at $10 million, indicating a 14.4% improvement from the year-ago quarter’s reported figure.
The Zacks Consensus Estimate for fourth-quarter earnings is pegged at 13 cents per share, flat year over year.
AAR Corp. AIR delivered an average earnings surprise of 6.23% in the last four quarters. The Zacks Consensus Estimate for AAR’s third-quarter fiscal 2024 sales is pegged at $567.6 million, implying 8.9% growth from the year-ago quarter’s reported actuals.
The Zacks Consensus Estimate for AIR’s fiscal third-quarter earnings is pinned at 83 cents per share, indicating a 10.7% increase from the year-ago quarter’s reported figure.
Embraer S.A. ERJ delivered an earnings surprise of 28.57% in the last reported quarter. The Zacks Consensus Estimate for Embraer’s fourth-quarter 2023 sales is pegged at $2.21 billion, implying 11.1% growth from the year-ago quarter’s reported number.
The Zacks Consensus Estimate for fourth-quarter earnings is pegged at 38 cents per share, indicating a 58.3% surge from the year-ago quarter’s reported figure.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.
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