AeroVironment Q4 EPS Tops by 26%, Revenue Doubles to $642M
AVAV•AeroVironment posted adjusted Q4 EPS of $1.84, beating the $1.46 consensus, and revenue more than doubled to $641.6 million against a $556 million estimate. Funded backlog climbed 65% to $1.2 billion and FY26 revenue jumped 141% to $1.98 billion with $2.7 billion in new orders.
1. Q4 Results Beat Expectations
In Q4, AeroVironment posted adjusted EPS of $1.84 versus a $1.46 consensus and GAAP net income of $63.2 million ($1.25 per diluted share) compared with $16.7 million a year earlier. Revenue surged to $641.6 million, more than double the $275.1 million from the prior year and ahead of analyst projections.
2. Backlog and Segment Growth
Funded backlog climbed to $1.2 billion at quarter-end, a 65% increase from $726.6 million a year ago, underpinning near-term revenue visibility. The counter-UAS segment contributed around $200 million during the quarter and is positioned to potentially match or exceed the core drone business over the next 3–5 years.
3. FY26 Performance and Order Book
For fiscal 2026, total revenue rose 141% to $1.98 billion, while the company secured $2.7 billion in new orders, yielding a 1.4 book-to-bill ratio. Leadership completed its largest acquisition and expanded investments in directed energy and autonomous systems to diversify its portfolio.
4. FY27 Guidance and Outlook
Management projects FY27 revenue between $2.13 billion and $2.23 billion and adjusted EPS of $3.02 to $3.34, falling short of street estimates of $2.16 billion revenue and $3.84 EPS. The guidance reflects cautious spending assumptions despite a robust defense budget environment.
