The 10-second takeaway
For the quarter ended Jan. 26 (Q3), AeroVironment whiffed on revenues and missed estimates on earnings per share.
Compared to the prior-year quarter, revenue dropped significantly. GAAP earnings per share dropped significantly.
Gross margins grew, operating margins dropped, net margins grew.
AeroVironment recorded revenue of $47.1 million. The 13 analysts polled by S&P Capital IQ looked for a top line of $88.8 million on the same basis. GAAP reported sales were 35% lower than the prior-year quarter's $72.0 million.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS came in at $0.17. The eight earnings estimates compiled by S&P Capital IQ averaged $0.38 per share. GAAP EPS of $0.17 for Q3 were 35% lower than the prior-year quarter's $0.26 per share.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 41.8%, 370 basis points better than the prior-year quarter. Operating margin was -2.3%, much worse than the prior-year quarter. Net margin was 8.2%, 20 basis points better than the prior-year quarter.
Next quarter's average estimate for revenue is $123.6 million. On the bottom line, the average EPS estimate is $0.73.
Next year's average estimate for revenue is $342.4 million. The average EPS estimate is $1.31.
The stock has a five-star rating (out of five) at Motley Fool CAPS, with 614 members out of 633 rating the stock outperform, and 19 members rating it underperform. Among 126 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 125 give AeroVironment a green thumbs-up, and one give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on AeroVironment is hold, with an average price target of $27.50.
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