AeroVironment reported fourth-quarter earnings of $1.84 per share, surpassing the $1.46 expected by analysts, while revenue more than doubled to $642 million, exceeding the $559 million forecast. CEO Wahid Nawabi emphasized the company's strategic position to capitalize on increasing global demand for drones and related technologies, with a funded backlog of $1.2 billion, up 65% year-over-year.
Despite a challenging year with shares down over 40%, the company anticipates fiscal year 2027 revenue between $2.13 billion and $2.23 billion, slightly below analyst expectations. The U.S.
Defense Department's projected drone budget exceeding $75 billion presents significant growth opportunities for AeroVironment, as highlighted by Nawabi's comments on the urgency for military advancements in drone technology