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Jan 30, 2021
AeroVironment Q3 2021 Earnings Report
AeroVironment experienced revenue growth and earnings per share increase in the third quarter of fiscal year 2021.
Key Takeaways
AeroVironment reported a 27% increase in revenue, reaching $78.8 million for the third quarter of fiscal year 2021. Diluted earnings per share increased to $0.01, and non-GAAP diluted earnings per share rose to $0.14.
Revenue increased by 27% year-over-year, reaching $78.8 million.
Gross margin increased by 22% year-over-year, totaling $28.6 million.
Diluted earnings per share increased by $0.05 year-over-year, reaching $0.01.
Diluted non-GAAP earnings per share increased by $0.15 year-over-year, reaching $0.14.
AeroVironment
AeroVironment
Forward Guidance
For fiscal year 2021, AeroVironment narrows its revenue expectations to between $400 million and $410 million. The company now expects net income of $18 million to $23 million, adjusted EBITDA of $64 million to $69 million and revised earnings per diluted share of $0.76 to $0.96.
Positive Outlook
- Revenue expectations narrowed to between $400 million and $410 million.
- Net income is expected to be $18 million to $23 million.
- Adjusted EBITDA is projected to be $64 million to $69 million.
- Revised earnings per diluted share are expected to be $0.76 to $0.96.
- Non-GAAP earnings per diluted share are anticipated to be between $1.74 and $1.94.
Challenges Ahead
- Revised earnings per diluted share reflect reductions of $0.35 per diluted share for the HAPSMobile Inc. JV impairment of its investment in Loon LLC.
- Revised earnings per diluted share reflect reductions of $0.53 per diluted share for additional acquisition-related expenses and amortization of intangible assets.
- The outlook includes the impact of the two recently closed acquisitions in the fourth quarter of fiscal year 2021.
- The outlook includes the anticipated closing of the third acquisition in the fourth quarter of fiscal year 2021.
- The foregoing estimates are forward-looking and reflect management's view of current and future market conditions, subject to certain risks and uncertainties.