Q3 26 EPS
$0.64
MISS 7.39%
Est. $0.69
Q3 26 Revenue
$408.0M
MISS 14.21%
Est. $475.7M
vs S&P Since Q3 26
-47.8%
TRAILING MARKET
AVAV -38.2% vs S&P +9.6%
Market Reaction
Did AVAV Beat Earnings? Q3 2026 Results
AeroVironment delivered a disappointing fiscal Q3 2026, missing on both top and bottom lines as analysts had been watching closely heading into the report. Revenue of $408.05 million fell 14.21% short of the $475.65 million consensus, though it still… Read more AeroVironment delivered a disappointing fiscal Q3 2026, missing on both top and bottom lines as analysts had been watching closely heading into the report. Revenue of $408.05 million fell 14.21% short of the $475.65 million consensus, though it still represented a striking 143.4% year-over-year gain, while non-GAAP EPS of $0.64 missed the $0.69 estimate by 7.39%, extending the company's miss streak to three consecutive quarters. The primary culprit was the Space, Cyber and Directed Energy segment, where a stop-work order on the BADGER SCAR program triggered a $151.31 million goodwill impairment and pushed SCDE revenue sharply lower sequentially. The Autonomous Systems segment provided an offset, generating $278.74 million in quarterly revenue on strong Switchblade and uncrewed aircraft demand. Looking ahead, AeroVironment trimmed its full-year FY2026 revenue guidance to $1.85 billion to $1.95 billion, though management pointed to record funded backlog of $1.10 billion and a 1.6x book-to-bill ratio as evidence that demand fundamentals remain intact heading into what it characterized as a record fourth quarter.
Key Takeaways
- • 38% organic year-over-year revenue growth
- • Strong AxS segment performance driven by Precision Strike & Defensive Systems and Uncrewed Aircraft Systems
- • BlueHalo acquisition contributed $85.1M in product revenue and $91.4M in service revenue
- • Record funded backlog of $1.1 billion
- • Year-to-date bookings of $2.1 billion with 1.6x book-to-bill ratio
AVAV YoY Financials
Q3 2026 vs Q3 2025, source: SEC Filings
AVAV Revenue by Segment
With YoY comparisons, source: SEC Filings
“While our third quarter results were impacted by revenue timing and adjustments in our Space business, demand for our unique solutions remains robust.”
— Wahid Nawabi, Q3 2026 Earnings Press Release
AVAV Earnings Trends
AVAV vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
AVAV EPS Trend
Earnings per share: estimate vs actual
AVAV Revenue Trend
Quarterly revenue: estimate vs actual
AVAV Quarterly Results
6 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q4 26 BEAT FY | $1.47 | $1.84 | +25.01% | $641.6M | +14.76% |
| FY Full Year | $2.87 | $3.31 | +15.27% | $1.98B | +4.14% |
| Q3 26 MISS | $0.69 | $0.64 | -7.39% | $408.0M | -14.21% |
| Q2 26 MISS | $0.79 | $0.44 | -44.23% | $472.5M | +1.48% |
| Q1 26 MISS | $0.34 | $0.32 | -6.71% | $454.7M | +4.06% |
| Q4 25 BEAT FY | $1.41 | $1.61 | +13.92% | $275.1M | +13.33% |
| FY Full Year | $3.07 | $3.28 | +6.74% | $820.6M | +4.25% |
| Q3 25 MISS | $0.66 | $0.30 | -54.77% | $167.6M | -18.78% |