Welcome to our dedicated page for AeroVironment news (Ticker: AVAV), a resource for investors and traders seeking the latest updates and insights on AeroVironment stock.
AeroVironment, Inc. (NASDAQ: AVAV) is a pioneering company with over 45 years of innovation in the fields of security, energy, and infrastructure management. The company's primary focus is on providing actionable intelligence through its advanced unmanned aircraft systems (UAS), tactical missile systems, and high-altitude pseudo-satellites. AeroVironment stands out as the largest supplier of small UAS to the Pentagon and numerous allied nations.
AeroVironment's breakthrough products give users the ability to gain critical situational awareness. These sophisticated 'eyes in the sky' are crucial for intelligence, reconnaissance, and surveillance. The company's UAS have proven indispensable on the battlefield, saving countless lives by providing real-time intelligence to troops. Similarly, on the home front, these systems promise significant benefits in areas such as disaster response, law enforcement, and infrastructure monitoring.
Operating under a single business segment, AeroVironment caters primarily to government agencies within the United States Department of Defense and allied international governments. The company's offerings include a range of unmanned systems designed to enhance security, facilitate surveillance, and provide robust sensing capabilities. This allows for extensive monitoring without requiring a human presence in potentially dangerous situations.
Recent achievements highlight AeroVironment's commitment to innovation and excellence. The company regularly collaborates with various defense and government agencies to develop and deploy cutting-edge technology solutions. Financially, AeroVironment has shown strong performance, driven by growing demand for their advanced systems and services. Its strategic partnerships and continuous investment in research and development ensure that AeroVironment remains at the forefront of the unmanned systems industry.
AeroVironment, Inc. (NASDAQ: AVAV) received orders totaling $11,527,074 from NATO Support and Procurement Agency for Puma™ 3 AE tactical UAS and spares. These orders are part of a three-year contract with a potential $80 million value for tactical UAS support across NATO nations. The Puma 3 AE is engineered for real-time intelligence and has a wingspan of 9.2 feet, weight of 15 pounds, and can operate for up to 2.5 hours. Deliveries are expected by June 2021.
AeroVironment (NASDAQ:AVAV) announced that Chairman Timothy E. Conver is implementing a pre-arranged stock trading plan to sell shares held by The Conver Family Trust and C5 Holdings LLC. This plan complies with Rule 10b5-1, allowing insider trading for diversification and liquidity without possessing non-public information. The Trust plans to sell up to 350,000 shares, while C5 may sell up to 150,000 shares over approximately six months. Following these sales, Mr. Conver will retain about 868,704 shares, or 3.5% of the company, starting in April 2021.
AeroVironment (NASDAQ: AVAV) announced the U.S. Army exercised a contract option worth $20,979,905 on February 25, 2021, for Flight Control Systems under a multi-year small UAS contract. This contract includes upgrades for the Raven tactical UAS. The contract's total value is now $42,901,035 as part of a potential $55 million IDIQ contract. The Raven system, a leader in tactical UAS, enhances mission effectiveness and situational awareness for Army personnel with features like a 6.2-mile range and real-time video capabilities.
AeroVironment (NASDAQ: AVAV) has secured a $5,922,461 contract from the U.S. Department of Defense for Foreign Military Sales. This contract, awarded on December 22, 2020, entails providing the Puma™ 3 AE tactical unmanned aircraft system, along with training and support to a European ally, with delivery expected by April 2021. The Puma 3 AE offers comprehensive capabilities for both land and maritime operations, enhancing situational awareness and mission effectiveness, even in challenging environments.
AeroVironment (NASDAQ: AVAV) has announced that its subsidiary, Arcturus UAV, received a competitive task order worth approximately $7 million from the U.S. Special Operations Command (USSOCOM). The contract, effective from February 3, 2021, is aimed at providing unmanned aircraft systems services for ISR operations. This task order is part of a larger $975 million IDIQ contract awarded in June 2020, allowing for further task orders. The JUMP 20, a key product, offers vertical takeoff capabilities and a range of applications in various environments.
AeroVironment (NASDAQ: AVAV) reported strong Q3 fiscal 2021 results, achieving revenue of $78.8 million, a 27% year-over-year increase. Gross margin rose to $28.6 million (+22%), with diluted EPS at $0.01 (+$0.05) and non-GAAP EPS at $0.14 (+$0.15). The company is confident in future growth due to three transformative acquisitions, expanding into new UAS markets and technologies. Despite challenges, they aim for double-digit growth and narrowed FY 2021 revenue expectations to $400-$410 million. Outlook for FY 2022 anticipates revenue between $560-$580 million.
AeroVironment, Inc. (NASDAQ: AVAV) will announce its financial results for the third quarter ended January 30, 2021, after market close on March 9, 2021. The management team, including CEO Wahid Nawabi and CFO Kevin P. McDonnell, will host a conference call at 1:30 PM PT to discuss the results. Investors can join the live audio webcast on the company's Investor Relations website. An audio replay will be available after the call until March 16, 2021. AeroVironment specializes in unmanned aircraft and tactical missile systems, serving defense and commercial sectors.
AeroVironment, Inc. (NASDAQ: AVAV) has completed the acquisition of Arcturus UAV, Inc. for approximately $405 million. This acquisition enhances AeroVironment's unmanned aircraft systems portfolio, adding the JUMP 20 and T-20 platforms. Arcturus UAV was previously selected for a $975 million contract by USSOCOM, recognizing its capabilities in intelligence, surveillance, and reconnaissance. The deal aims to improve long-term shareholder value by expanding market reach and product offerings.
AeroVironment (NASDAQ: AVAV), a leader in unmanned aircraft systems, announced that Steven A. Gitlin, CMO and VP of Investor Relations, will present at Cowen’s Aerospace/Defense and Industrials Conference on February 10, 2021, at 09:40 a.m. PT / 12:40 p.m. ET. A live audio webcast of the presentation will be accessible on their website, with a replay available for 90 days. Celebrating 50 years of innovation, AeroVironment provides advanced technology solutions for defense and commercial customers, emphasizing robotics and software analytics.
FAQ
What is the current stock price of AeroVironment (AVAV)?
What is the market cap of AeroVironment (AVAV)?
What does AeroVironment, Inc. specialize in?
Who are AeroVironment's primary customers?
How does AeroVironment's technology benefit users?
What are some recent achievements of AeroVironment?
What types of unmanned systems does AeroVironment provide?
How has AeroVironment contributed to battlefield intelligence?
What is AeroVironment's market position?
How long has AeroVironment been in operation?
What is the significance of AeroVironment's 'eyes in the sky'?
What drives AeroVironment's financial performance?
