AeroVironment Beats Q1 Estimates With BlueHalo Boost, Reaffirms 2026 Outlook

AeroVironment, Inc. (NASDAQ:AVAV) reported fiscal first-quarter results that topped analyst forecasts, lifted by the acquisition of BlueHalo, though heavy acquisition-related expenses led to a quarterly loss. Shares gained more than 3% in premarket trading Wednesday.

The defense technology company posted adjusted earnings of $0.32 per share, just above expectations of $0.31, on revenue of $454.7 million, a 140% increase year-over-year and higher than the $442.12 million consensus. BlueHalo contributed $235.2 million in revenue, while legacy operations grew 16% to $219.5 million.

AeroVironment reported record quarterly backlog of $1.1 billion and $399 million in bookings. Despite the revenue surge, the company posted a net loss of $67.4 million, or $1.44 per share, compared with net income of $21.2 million, or $0.75 per share, a year earlier. The loss was primarily attributed to $79.7 million in intangible amortization and other non-cash accounting charges tied to the BlueHalo acquisition.

The company reaffirmed its fiscal 2026 guidance for revenue between $1.9 billion and $2.0 billion and adjusted earnings of $3.60 to $3.70 per share, both above consensus estimates.