AeroVironment (AVAV) Q3 Earnings: Taking a Look at Key Metrics Versus Estimates
AeroVironment (AVAV) reported $186.58 million in revenue for the quarter ended January 2024, representing a year-over-year increase of 38.8%. EPS of $0.63 for the same period compares to $0.33 a year ago.
The reported revenue represents a surprise of +10.59% over the Zacks Consensus Estimate of $168.72 million. With the consensus EPS estimate being $0.32, the EPS surprise was +96.88%.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
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- Contract Services: $30.66 million versus the two-analyst average estimate of $40.43 million. The reported number represents a year-over-year change of -29%.
Revenue- Product Sales: $155.92 million versus the two-analyst average estimate of $123 million. The reported number represents a year-over-year change of +70.9%.
Gross margin- Contract services: $10.85 million compared to the $9.39 million average estimate based on two analysts.
Gross margin- Product sales: $56.44 million versus $50.12 million estimated by two analysts on average.
View all Key Company Metrics for AeroVironment here>>>
Shares of AeroVironment have returned +5.8% over the past month versus the Zacks S&P 500 composite's +4.8% 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
