Why AeroVironment Stock Crashed 16% This Morning

AeroVironment (NASDAQ: AVAV) stock tumbled 15.6% through 10:45 a.m. ET Thursday after reporting mixed Q3 earnings last night.Heading into the report, analysts forecast AeroVironment would earn $0.68 per share on sales of $181.4 million. AeroVironment beat the sales forecast, reporting $188.5 million in quarterly revenue. However, EPS was barely two-thirds what were predicted: $0.47 per share. AeroVironment sales grew 4% to set a new quarterly record for the maker of small military drones. CEO Wahid Nawabi credited the popularity of the company's "loitering munition systems" (i.e., kamikaze drones) for the strong revenue performance, noting the company also grew its backlog of future business by 25% in the quarter. Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool