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Investing.com -- AeroVironment Inc (NASDAQ:AVAV) reported first quarter results that exceeded analyst expectations, with adjusted earnings per share of $0.59, beating the consensus estimate of $0.30 by $0.29. Revenue reached a record $480.5 million, surpassing the analyst estimate of $459.89 million and representing a 6% increase from $454.7 million in the same quarter last year.
Shares rose over 4% in after-hours trading Wednesday following the announcement.
The company reaffirmed its full-year fiscal 2027 guidance, projecting adjusted EPS of $3.02 to $3.34 and revenue of $2.125 billion to $2.225 billion. The midpoint of the EPS guidance at $3.18 falls slightly below the analyst consensus of $3.22, while the revenue guidance midpoint of $2.175 billion aligns closely with the consensus estimate of $2.19 billion.
"AV's fiscal year 2027 is off to a strong start, with record first-quarter revenue and funded backlog and landmark strategic wins," said Wahid Nawabi, chairman, president and chief executive officer. "Our team is united in our mission to execute with discipline and capture demand for the key franchise programs that matter most to our customers, and that is exactly what we did in the first quarter."