AeroVironment Shares Up 8% Following its Biggest Sell-Off in 12 Years
<p><a href='https://financialmodelingprep.com/financial-summary/AVAV'>AeroVironment, Inc. (NASDAQ:AVAV) </a>shares recovered on Wednesday, trading more than 8% higher in the afternoon, following the sell-off yesterday (its biggest selloff in 12 years), which was followed by the company’s reported Q3 results.</p>
<p>Although the Q3 results were strong, with both EPS and revenues of $0.78 and $122.01 million beating the consensus estimates, the company’s 2022 outlook was disappointing. </p>
<p>Much of the revenue growth was due to the 2021 acquisitions of Arcturus (February 2021) and Telerob (May 2021).</p>
<p>The company materially lowered its 2022 outlook, expecting revenue of $450 million, down from prior guidance of $570 million. The EPS estimates were lowered to $1.23 - $1.37. The magnitude of the reduction is surprising considering that the company had visibility on around 66% of its prior full year $570 million revenue guidance exiting fiscal Q1. </p>

NASDAQ:AVAV