During the August 24 episode of Mad Money, Jim Cramer pointed to the sharp reversal in AEVEX Corp. (NYSE:AVEX) stock as he said:
What the heck happened to a stock we really like, AEVEX? I mean, here's a company that makes drones for the military, the single hottest part of the defense sector yet, its stock's been [on] a, let's call it, a roller coaster. AEVEX came public at $20 back in April, jumped nearly 35% the first day of trading, ultimately running as high as $42 and change a few days later. Now, though, it's fallen through the offer price, coming down to $18. I can't find out why.
Some of it's because AEVEX reported earlier this month, and Wall Street, I guess, didn't like the numbers. Stock got slammed. Didn't matter that it was a huge revenue beat. The earnings and backlog both came in weaker than expected, but not that much. Still, I think demand remains strong. They keep winning a lot of new business. At the same time, AEVEX is trying to buy BlackSea Technologies for as much as $650 million in stock and cash, which is a lot of money when you're a $2 billion company. This would give them exposure to unmanned ships and submarines, which they could tie into their drone software system.
AEVEX Corp. (NYSE:AVEX) reported $201.8 million of revenue for the second quarter, up 99.5% from $101.1 million a year earlier. Net income improved to $6.7 million from a loss of $11.8 million, while adjusted EBITDA rose to $28.1 million from $3.6 million. Most of the growth came from AEVEX's tactical systems business. Revenue in the segment increased to $174.2 million, up 141.6% year over year, driven by higher UAS product and support revenue.
AEVEX Corp. (NYSE:AVEX) ended the second quarter with $259.8 million of funded backlog, down from $503.1 million at the end of 2025. That represents a decline of roughly 48%. The company said the $243.3 million decline was primarily due to revenue recognized from the EUCOM AOR Deep Strike program. The company also said the balance was affected by an increase in shorter-cycle customer orders. AEVEX continued to secure new business during the quarter, including contracts for UAS and engineering services, mission-support capabilities, and advanced unmanned mission capabilities.
#Stock #NYSE #avex #business
What the heck happened to a stock we really like, AEVEX? I mean, here's a company that makes drones for the military, the single hottest part of the defense sector yet, its stock's been [on] a, let's call it, a roller coaster. AEVEX came public at $20 back in April, jumped nearly 35% the first day of trading, ultimately running as high as $42 and change a few days later. Now, though, it's fallen through the offer price, coming down to $18. I can't find out why.
Some of it's because AEVEX reported earlier this month, and Wall Street, I guess, didn't like the numbers. Stock got slammed. Didn't matter that it was a huge revenue beat. The earnings and backlog both came in weaker than expected, but not that much. Still, I think demand remains strong. They keep winning a lot of new business. At the same time, AEVEX is trying to buy BlackSea Technologies for as much as $650 million in stock and cash, which is a lot of money when you're a $2 billion company. This would give them exposure to unmanned ships and submarines, which they could tie into their drone software system.
AEVEX Corp. (NYSE:AVEX) reported $201.8 million of revenue for the second quarter, up 99.5% from $101.1 million a year earlier. Net income improved to $6.7 million from a loss of $11.8 million, while adjusted EBITDA rose to $28.1 million from $3.6 million. Most of the growth came from AEVEX's tactical systems business. Revenue in the segment increased to $174.2 million, up 141.6% year over year, driven by higher UAS product and support revenue.
AEVEX Corp. (NYSE:AVEX) ended the second quarter with $259.8 million of funded backlog, down from $503.1 million at the end of 2025. That represents a decline of roughly 48%. The company said the $243.3 million decline was primarily due to revenue recognized from the EUCOM AOR Deep Strike program. The company also said the balance was affected by an increase in shorter-cycle customer orders. AEVEX continued to secure new business during the quarter, including contracts for UAS and engineering services, mission-support capabilities, and advanced unmanned mission capabilities.
#Stock #NYSE #avex #business
2 months ago
