AeroVironment Shares Drop on 3Q Report Error

Dow Jones

Jun 22

By Dean Seal

Shares of AeroVironment fell after the company said its financial statements for the quarter that ended in late January would have to be reissued due to an error.

The stock was down 8.6% at $154.97 on Monday. Shares have now dropped 36% since the start of the year.

The defense company, which specializes in autonomous operations, disclosed before the opening bell that it has found an error in the calculation of the carrying value used for a goodwill impairment analysis of AeroVironment's space reporting unit.

The unit's carrying value used in the analysis didn't include an allocation of goodwill tied to acquired deferred tax assets and liabilities following the termination of the company's U.S. government contract to deliver phased array antenna systems.

As a result, the company's net loss was understated by $87.3 million and its total assets were overstated by $89.4 million, AeroVironment said. The third-quarter report therefore can't be relied upon and will have to be restated, it said.

Write to Dean Seal at dean.seal@wsj.com

(END) Dow Jones Newswires

June 22, 2026 11:48 ET (15:48 GMT)

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The third-quarter report therefore can't be relied upon and will have to be restated, it said. \n</p>\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  Write to Dean Seal at dean.seal@wsj.com \n</p>\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  June 22, 2026 11:48 ET (15:48 GMT)\n</p>\n<p>\n  Copyright (c) 2026 Dow Jones &amp; Company, Inc.\n</p>\n</font>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"AVAV","symbol_name":"AeroVironment公司","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2645207665","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2645207665","pubTimestamp":1782143280,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"Shares of AeroVironment fell after the company said its financial statements for the quarter that ended in late January would have to be reissued due to an error.The stock was down 8.6% at $154.97 on Monday. 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Shares have now dropped 36% since the start of the year. \n\n\n  The defense company, which specializes in autonomous operations, disclosed before the opening bell that it has found an error in the calculation of the carrying value used for a goodwill impairment analysis of AeroVironment's space reporting unit. \n\n\n  The unit's carrying value used in the analysis didn't include an allocation of goodwill tied to acquired deferred tax assets and liabilities following the termination of the company's U.S. government contract to deliver phased array antenna systems. \n\n\n  As a result, the company's net loss was understated by $87.3 million and its total assets were overstated by $89.4 million, AeroVironment said. The third-quarter report therefore can't be relied upon and will have to be restated, it said. \n\n\n \n\n\n  Write to Dean Seal at dean.seal@wsj.com \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  June 22, 2026 11:48 ET (15:48 GMT)\n\n\n  Copyright (c) 2026 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":true,"editions":null,"column":"","sentiment":"-1","news_tag":"dataReport","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":0,"need_auth":true,"need_login_tip":false,"code":"91000000","status":"200"}}}