AeroVironment (AVAV) shares plummeted 5.48% in after-hours trading following the release of its fiscal Q2 earnings report, which fell short of analyst expectations.
The company reported adjusted earnings of $0.44 per share, significantly below the $0.78 consensus estimate, and lowered its full-year adjusted EPS guidance to $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.
Comments