AeroVironment Posts Record Q1 Revenue of $480M and 84% EPS Jump, Stock Rises in Pre-Market

AeroVironment reported record fiscal first-quarter 2027 revenue of $480.5 million, blowing past analyst expectations and delivering adjusted EPS of $0.59, up 84% year over year from $0.32. Adjusted EBITDA came in at $53 million, or 11% of revenue, as growth was concentrated in the Autonomous Systems segment. The Space, Cyber and Directed Energy segment posted declines and a segment loss in the quarter.

The company's funded backlog reached a record $1.5 billion, up 37% year over year and 23% from the prior quarter, while total backlog including unfunded commitments stood at approximately $2.8 billion. Q1 bookings were $683 million, producing a book-to-bill ratio of 1.4 times, and trailing twelve-month bookings exceeded $3 billion at a 1.5 times book-to-bill ratio, providing clear visibility into coming quarters.

Management held its full-year fiscal 2027 guidance unchanged, targeting revenue of $2.125 billion to $2.225 billion, representing roughly 10% year-over-year growth at the midpoint. The guidance assumes first-half revenue will represent 45% of the full year, placing significant weight on second-half execution and leaving profitability targets dependent on back-loaded performance.

Shares jumped as much as 6.8% in pre-market trading on September 10, a notable reversal after AVAV had fallen from roughly $417 in October 2025 to around $140.80 before the report. The rally came just over a week after CNBC's Jim Cramer told Mad Money viewers on September 2 to avoid the stock, citing competition in the defense drone segment. Analysts responded with price-target upgrades following the results, and Wall Street's consensus rating on the stock remains Strong Buy.