NASDAQ$AVAV

AeroVironment Inc. · Q3 2020 earnings

Q3 2020 earnings · · Investor relations

Briefing

AeroVironment's third quarter results were delivered, aligning with expectations, but resulted in a loss.

AeroVironment reported a decrease in revenue for the third quarter of fiscal year 2020, with a loss per share and a non-GAAP loss per share. The company's funded backlog was $126.0 million. Despite the quarterly loss, the company increased full year expectations for diluted earnings per share.

  • Revenue for the third quarter of fiscal 2020 was $61.9 million, an 18% decrease from the previous year.
  • Loss per diluted share from continuing operations was $0.04, compared to earnings per diluted share of $0.35 in the third quarter of fiscal 2019.
  • Non-GAAP loss per diluted share from continuing operations was $0.01, compared to non-GAAP earnings per diluted share of $0.35 in the same quarter last year.
  • Funded backlog as of January 25, 2020, was $126.0 million, a decrease from $132.5 million the previous year.

Headline financials

Total Revenue

$61.9M

Previous: $75.3M-17.8%
EPS (adj)

-$0.01

Previous: $0.35-102.9%
Funded Backlog

$126M

Previous: $133M-4.9%
Capital Expenditures

-$8.5M

Previous: -$6.81M-24.9%
Free Cash Flow

-$9.53M

Previous: $1.54M-717.4%
Net Income

-$1.03M

Previous: $8.35M-112.3%
Operating Income

-$1.11M

Previous: $7.84M-114.1%
Gross Profit

$23.5M

Previous: $30.4M-22.7%
Cash & Equivalents

$131M

Previous: $149M-12.0%
Total Assets

$559M

Previous: $499M+12.0%
Stock-Based Comp

$1.77M

Previous: $3.08M-42.7%

Revenue & EPS history

AeroVironment · Revenue · Quarterly

$61.9M

Q3 2020-17.8%vs Q3 2019
Beat estimate in 12 of 16 quarters(75%)
ActualEstimate

Forward guidance

The Company continues to expect to generate revenue between $350 million and $370 million. The Company has revised its expectations and now expects to generate earnings per diluted share of between $1.55 and $1.75 and non-GAAP earnings per diluted share of between $1.67 and $1.87, which excludes acquisition related expenses and amortization of acquired intangible assets.

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 20 quarterly earnings reports · overlaid with Q3 2020

Historical avgQ3 2020

+0.4%

Avg return

Earnings day

+1.7%

Avg return

5 days after

+3.7%

Avg return

30 days after

45%

29 / 65 earnings

Positive

+29.8%

Q3 2024

Best reaction

-23.1%

Q2 2022

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q3 2026-6.2%-4.4%-18.9%
Q2 2026-12.9%-16.4%+29.7%
Q1 2026+6.9%+8.7%+69.8%
Q4 2025+0.0%-2.8%+35.3%
Q3 2025-4.4%-13.1%-21.3%
Q2 2025-14.2%-16.9%-16.6%
Q1 2025-4.4%-5.9%+8.2%
Q4 2024-7.7%-8.8%-9.8%
Q3 2024+29.8%+29.1%+14.1%
Q2 2024-9.5%-11.0%-14.0%
Q1 2024+17.3%+15.7%+8.1%
Q4 2023+4.9%+13.3%+4.4%
Q3 2023+2.3%+1.4%+14.0%
Q2 2023-7.1%-7.4%-7.1%
Q1 2023+16.1%+14.0%-12.4%
Q4 2022-5.9%+3.7%+3.0%
Q3 2022+2.0%+3.9%+29.6%
Q2 2022-23.1%-21.1%-21.1%
Q1 2022-10.7%-11.6%-15.7%
Q4 2021-9.5%-11.8%-9.0%
Q3 2021+5.9%+18.7%+12.2%
Q2 2021-3.1%-8.0%-0.4%
Q1 2021-6.6%-6.4%+3.1%
Q4 2020+3.2%+10.7%+11.5%
Q3 2020+8.1%+12.6%-1.0%
Q2 2020-3.9%-2.0%-1.2%
Q1 2020+7.4%+10.9%+5.6%
Q4 2019-9.6%-8.2%-12.2%
Q3 2019+9.1%+2.2%-11.5%
Q2 2019-16.6%-22.6%-26.5%
Q1 2019+13.7%+20.7%+16.1%
Q4 2018+14.4%+22.6%+29.1%
Q3 2018-14.2%-5.7%-7.8%
Q2 2018+23.8%+26.5%+21.9%
Q1 2018+19.1%+25.8%+37.3%
Q4 2017+13.4%+23.3%+21.6%
Q3 2017+5.8%+4.8%+6.6%
Q2 2017-3.4%+1.0%-8.2%
Q1 2017-17.1%-16.8%-18.9%
Q4 2016-6.1%-1.5%+0.0%
Q3 2016+5.8%
Q2 2016+13.2%
Q1 2016-11.6%
Q4 2015+11.6%
Q3 2015-8.8%
Q2 2015-5.8%
Q1 2015-8.2%
Q4 2014+11.1%
Q3 2014+25.4%
Q2 2014+8.4%
Q1 2014-3.0%
Q4 2013+3.6%
Q3 2013-10.4%
Q2 2013+14.2%
Q1 2013-5.6%
Q4 2010+2.0%
Q4 2012+2.6%
Q3 2011-2.9%
Q3 2012-6.1%
Q2 2011-2.4%
Q2 2012-1.3%
Q4 2011-6.9%
Q1 2011-6.9%
Q1 2012-0.5%
Q3 2010+3.7%

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