AeroVironment (AVAV) Q2 Earnings: Taking a Look at Key Metrics Versus Estimates
AeroVironment (AVAV) reported $180.82 million in revenue for the quarter ended October 2023, representing a year-over-year increase of 62.1%. EPS of $0.97 for the same period compares to $0.00 a year ago.
The reported revenue represents a surprise of +0.67% over the Zacks Consensus Estimate of $179.62 million. With the consensus EPS estimate being $0.67, the EPS surprise was +44.78%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how AeroVironment performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Revenue- Product Sales: $145.78 million versus the two-analyst average estimate of $135.88 million. The reported number represents a year-over-year change of +133.8%.
Revenue-Loitering Munitions Systems (LMS): $30.25 million compared to the $41.97 million average estimate based on two analysts.
Revenue- Contract Services: $35.04 million compared to the $47.60 million average estimate based on two analysts. The reported number represents a change of -28.9% year over year.
Revenue-Unmanned Systems (UMS): $132.77 million versus $114.04 million estimated by two analysts on average.
Revenue-MacCready Works (MW): $17.79 million compared to the $23.11 million average estimate based on two analysts.
Gross margin- Contract services: $8.60 million versus the two-analyst average estimate of $10.85 million.
Gross margin- Product sales: $66.75 million compared to the $61.76 million average estimate based on two analysts.
View all Key Company Metrics for AeroVironment here>>>
Shares of AeroVironment have returned +18% over the past month versus the Zacks S&P 500 composite's +5.1% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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AeroVironment, Inc. (AVAV) : Free Stock Analysis Report
