:

Business/Financial

AeroVironment Reports Record First Quarter Sales As Switchblade Continues To Power Growth

By Cal Biesecker

Thursday, September 5th, 2024

SHARE:

AeroVironment Reports Record First Quarter Sales As Switchblade Continues To Power Growth

Switchblade 600. Photo: AeroVironment.

AeroVironment [AVAV] on Wednesday reported record first quarter fiscal year 2025 revenue driven by its soaring loitering munitions business and the company also benefited from robust demand for its other unmanned systems. Sales in the Loitering Munitions Segment (LMS) were 68 percent higher than a year ago, $52 million versus $30.9 million, with nearly half the contribution due to the longer-range Switchblade 600 and the rest from the Switchblade 300. The Uncrewed Systems Segment, the company’s largest, was 22 percent…

Budget

Hegseth Pushes For Reconciliation With At Least $350 Billion For Defense ‘Regardless’ Of Midterms Outcome

Defense Secretary Pete Hegseth said Wednesday the Trump administration plans to continue its push for at least $350 billion in defense funds via the reconciliation process “regardless of what happens […]

Congress

Bipartisan Push in Senate to Hasten Export of 155 mm, GMLRS, HIMARS for Ukraine

A small, bipartisan group of senators is backing the Fast Tracking European Investment in Ukraine’s Defense Act, S. 5175, to hasten the export of allied buys of U.S. munitions for […]

Congress

Rep. Himes Signals Increased Contractor Oversight, if Democrats Win House

Rep. Jim Himes (D-Conn.), the ranking member of the House Permanent Select Committee on Intelligence, plans to increase the committee’s contractor oversight if the Democrats win control of the House […]

Congress

CBO Estimates Loss of One-Half to Two-Thirds of U.S. Missile Interceptors Since June Last Year

A new Congressional Budget Office report estimates the cost of the Iran war through Aug. 1 as $38 billion and says that the U.S. has likely depleted between one-half and […]