AeroVironment (AVAV) Earnings Date & Reports

Key Takeaways

• AeroVironment (AVAV) is scheduled to report results for the first quarter of fiscal year 2027, which ended August 1, 2026, after the market closes on September 9, 2026.
• Consensus estimates project adjusted earnings per share (EPS) of roughly $0.26 and revenue of approximately $454 million for the quarter.
• Management has guided fiscal 2027 revenue to $2.125 billion–$2.225 billion and non-GAAP EPS to $3.02–$3.34.
• The company's prior quarter was a standout: fiscal 2026 fourth-quarter revenue of $641.6 million and adjusted EPS of $1.84 drove a sharp single-day rally.
• Recent catalysts, including a $51 million U.S. Army Switchblade 600 order and a $117.3 million P550 production contract, highlight strong defense demand heading into the report.
• Investors will watch BlueHalo integration, funded backlog of $1.2 billion, and margin trends closely.

Earnings Context and Why It Matters

AeroVironment (AVAV) has transformed from a pure-play drone maker into a diversified defense technology provider spanning autonomous systems, precision strike weapons, counter-unmanned aircraft systems (counter-UAS), directed energy, space, and cyber. Its upcoming quarterly report is important because it offers the first official look at how the company is executing after a record fiscal 2026 and its acquisition of BlueHalo. With governments increasing spending on drones and autonomous warfare, the print will help investors assess demand visibility, production execution, and the pace of BlueHalo integration — factors that could shape the stock's direction after a year in which shares have lagged despite strong results.

Earnings Expectations

For the first quarter of fiscal 2027, which ended August 1, 2026, analysts polled expect AeroVironment to report adjusted EPS of about $0.26 on revenue near $454 million. These figures will be measured against management's full-year outlook, which calls for revenue of $2.125 billion to $2.225 billion, adjusted EBITDA (earnings before interest, taxes, depreciation, and amortization) of $305 million to $325 million, and non-GAAP EPS of $3.02 to $3.34.

The quarter follows a powerful fourth-quarter performance. On June 29, 2026, the company reported fiscal 2026 fourth-quarter revenue of $641.6 million, up 133% year over year, and adjusted EPS of $1.84, topping Wall Street expectations. Funded backlog reached $1.2 billion, and the company recorded a book-to-bill ratio of 1.4. Shares climbed roughly 19% in the following session. Since then, momentum has been supported by a string of contract wins, including a $51 million U.S. Army order for additional Switchblade 600 loitering munitions and a $117.3 million Army production contract for the P550 uncrewed aircraft system.

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Market Reaction and Investor Sentiment

Sentiment heading into the report is mixed. Wall Street analysts maintain a broadly favorable view, with a consensus "Strong Buy" rating and an average price target well above the current share price. At the same time, AVAV shares have declined roughly 40% over the past 52 weeks, reflecting concerns tied to a government contract termination, an accounting-related disclosure, and elevated valuation multiples relative to peers.

The stock has shown it can react sharply to earnings — the last report triggered a near-19% single-session gain. For the upcoming print, the key swing factors include whether revenue and EPS land above consensus, whether margins hold up amid service-revenue mix and acquisition amortization, and whether management reaffirms or adjusts its fiscal 2027 guidance. Any commentary on the timing of U.S. government budget approvals could also influence sentiment, given the company's heavy exposure to defense appropriations.

Forward Outlook and Key Factors to Monitor

Looking beyond the quarter, investors should focus on several themes that will shape AeroVironment's trajectory. First, demand visibility remains a core strength: the company entered fiscal 2027 with a funded backlog of $1.2 billion, and recent orders for Switchblade and P550 systems suggest continued U.S. Army appetite for loitering munitions and uncrewed aircraft.

Second, integration and capacity matter. AeroVironment plans a $100 million investment in a new Southern California campus and has guided capital expenditures (CapEx) to 12%–14% of revenue as it expands production. Management has indicated it does not expect positive free cash flow in fiscal 2027, so investors should watch how spending tracks against that plan.

Third, budget timing is a known risk. The company has cautioned that a continuing resolution for the U.S. government's fiscal 2027 budget could delay funding and shift revenue timing, particularly in its cyber and mission solutions business.

Finally, watch the BlueHalo integration and the Space, Cyber and Directed Energy segment, which has faced funding delays and program disruptions. Margin progression, counter-UAS growth, and any updates to full-year guidance will be central to how the market interprets the results in the weeks ahead.

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