AeroVironment (AVAV) shares plummeted 5.83% in post-market trading following the release of its fiscal second-quarter earnings report, which fell short of analyst expectations.
The company reported adjusted earnings of $0.44 per share, significantly below the consensus estimate of $0.78, and lowered its full-year adjusted EPS guidance to a range of $3.40-$3.55, compared to the $3.65 estimate. Despite revenue beating expectations at $472.5 million, the earnings miss and reduced outlook weighed heavily on investor sentiment.
AeroVironment's CEO highlighted strong bookings and long-term contract wins, but the market focused on the disappointing earnings performance and guidance cut, leading to the sharp decline. The stock had been up 83% year-to-date prior to the report, suggesting some profit-taking may have exacerbated the drop.
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