AeroVironment stock tumbled Thursday after the missile and drone maker reported fourth-quarter results.
AeroVironment reported a 57% drop in earnings to 43 cents per share adjusted. Revenue increased 6% to a Q4 record $197 million.
That was better than FactSet expectations for a 78% tumble nearly to 22 cents per share adjusted on a slight uptick in revenue to $188.5 million.
The company's funded backlog declined to $400.2 million as of April 30, compared to $424.1 million the year prior.
AeroVironment said that it is on track to hit nearly 12% top line growth in fiscal 2025 and expects revenue to range from $790 million to $820 million. The drone maker guided 2025 earnings between $3.18 and $3.49 per share adjusted.
FactSet analysts forecast a 2025 earnings increase of about 12.4% to $3.36 per share adjusted on 12.2% sales growth to $804.5 million.
AeroVironment Stock Sinks
AVAV stock pared losses to 6.1% Thursday. Shares unraveled about 15% in early trade. AeroVironment had inched up a fraction Wednesday.
AVAV had erased its gains from a breakout in May, falling back to test support at its 50-day moving average. Thursday's drop cut below support at that technical level.
AeroVironment stock soared 41.2% this year through Thursday's close.
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