AeroVironment Shares Plunge 10% on Q4 Miss and Lower 2023 Guidance

2022.06.29 05:36

AeroVironment (AVAV) Shares Plunge 10% on Q4 Miss and Lower 2023 Guidance

By Davit Kirakosyan

AeroVironment (NASDAQ:AVAV) shares dropped nearly 10% after-hours Tuesday following the company’s reported Q4 results, with EPS of $0.30 coming in worse than the consensus estimate of $0.39. Revenue declined 2% year-over-year to $132.6 million, compared to the consensus estimate of $135.3 million, reflecting a decrease in product sales of $22.7 million, partially offset by higher service revenue of $19.3 million.

The company expects full 2023-year EPS to be in the range of $1.35-$1.65, compared to the consensus of $1.75, and revenue in the range of $490-520 million, compared to the consensus of $513 million.

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