The Week's Best Earnings Performers: AVAV, WDAY & AVGO

The shortened week, due to the Labor Day holiday, was still full of major news in the investment world. This included an impressive price target for Netflix NFLX and more craziness from Tesla TSLA and its CEO Elon Musk. But in a week short on earnings, three companies stood out.

The week of September 3 saw Nike NKE grab headlines for its use of the controversial Colin Kaepernick in its new ad campaign. Meanwhile, Facebook FB and Twitter TWTR both saw their stock prices sink after executives from the two social media companies spoke in front of members of Congress about what they are doing to prevent the spread of misinformation—among other things.

There were also some significant earnings releases despite the fact that second-quarter earnings season is almost over. According to our Zacks Earnings Calendar, which helps investors plan out their schedules for earnings, dividend announcements, and other important financial releases, just 46 companies reported their quarterly financial results this week.

So let’s take a quick look at three of the companies that posted impressive results.

AeroVironment, Inc. AVAV

AeroVironment designs, makes, and sells unmanned aircraft systems, which are better known by the more common term drone. Shares of the unmanned aircraft maker had surged about 75% in the past year before it reported its quarterly earnings results on Wednesday.

AeroVironment reported fiscal Q1 2019 revenues of $78 million, which came in above our Zacks Consensus Estimate of $75.6 million. This strong top-line performance also marked a 127% surge from the $34.4 million the firm reported in the year-ago period. Meanwhile, AVAV’s adjusted quarterly earnings skyrocketed to $0.59 per share, which crushed our $0.06 estimate—investors should note that this non-GAAP figures excludes 26 cents attributed to litigation settlement gains.

The Monrovia, California-based company saw its stock price climb over 10% after-hours following its earning release. Shares of AVAV hit a brand new all-time high of $103.98 per share on Friday. Looking ahead, AeroVironment expects full-year earnings in the range of $1.10 to $1.40 per share, with revenue coming in between $290 million and $310 million.

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