Q4 26 EPS
$1.84
BEAT +25.01%
Est. $1.47
Q4 26 Revenue
$641.6M
BEAT +14.76%
Est. $559.1M
Full Year 2026 Results
FY 26 EPS
$3.31
BEAT +15.27%
Est. $2.87
FY 26 Revenue
$1.98B
BEAT +4.14%
Est. $1.90B
Market Reaction
Did AVAV Beat Earnings? Q4 2026 Results
AeroVironment delivered a decisive earnings beat in Q4 fiscal 2026, posting adjusted EPS of $1.84 against a consensus estimate of $1.47, a 25.01% beat, while revenue of $641.62 million topped expectations by 14.76% and surged 133.3% year-over-year. T… Read more AeroVironment delivered a decisive earnings beat in Q4 fiscal 2026, posting adjusted EPS of $1.84 against a consensus estimate of $1.47, a 25.01% beat, while revenue of $641.62 million topped expectations by 14.76% and surged 133.3% year-over-year. The transformational driver was clear: the May 2025 acquisition of BlueHalo and the March 2026 addition of Empirical Systems Aerospace together contributed $282.30 million of Q4 revenue, creating an entirely new Space, Cyber and Directed Energy segment alongside the legacy Autonomous Systems business. Within that legacy segment, Precision Strike and Defensive Systems stood out, generating $333.00 million in Q4 pro forma revenue, up 80%, fueled by robust Switchblade munitions demand. Gross margins compressed from 36% to 32% as acquisition-related amortization charges weighed on profitability, and the company faces ongoing securities litigation tied to the terminated SCAR program contract. Looking ahead, management guided fiscal 2027 revenue of $2.13 billion to $2.23 billion, with non-GAAP adjusted EPS of $3.02 to $3.34, as capital spending ramps to 12%-14% of revenue to expand manufacturing capacity.
Key Takeaways
- • Precision Strike & Defensive Systems drove 80% pro forma growth in Q4 with $333M revenue
- • BlueHalo and ESAero acquisitions contributed $282.3 million of Q4 revenue
- • Record Q4 adjusted EBITDA margin of 22% driven by strong AxS sales and favorable mix
- • 31% organic revenue growth year-over-year in Q4
- • Record bookings of $2.7 billion for fiscal year with 1.4x book-to-bill ratio
AVAV Forward Guidance & Outlook
For fiscal year 2027 (ending April 30, 2027), AeroVironment expects revenue of $2.125 billion to $2.225 billion (approximately 10% year-over-year growth at midpoint), net income of $8 million to $24 million, non-GAAP adjusted EBITDA of $305 million to $325 million (14% margin at midpoint), GAAP EPS of $0.16 to $0.48, and non-GAAP adjusted EPS of $3.02 to $3.34. Revenue is expected to be weighted 45% in the first half and 55% in the second half, with adjusted EBITDA split approximately one-third / two-thirds. Capital expenditures are expected to increase to 12%-14% of revenue to support manufacturing capacity and facility expansion. Deal and integration expenses are expected to be approximately $10 million, and stock-based compensation approximately $44 million.
AVAV YoY Financials
Q4 2026 vs Q4 2025, source: SEC Filings
AVAV Revenue by Segment
With YoY comparisons, source: SEC Filings
“Fiscal 2026 marked a transformational year for AV, which included the completion of our largest acquisition, meaningful investments toward diversifying our portfolio in critical areas aligned to our customer's highest priorities, and the strongest financial performance in our history.”
— Wahid Nawabi, Q4 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% |