On September 3, AeroVironment rose 6.61% in pre-market trading, trading at $155.36/share, with turnover of $2.4387 million. The rally was driven by the announcement that the company has been awarded a $464.8 million contract by the US Army.

According to the disclosure, the contract was awarded by the US Army's Portfolio Acquisition Executive for Fires program office under the Enduring-High Energy Laser program. AeroVironment will deliver dozens of its LOCUST X3 laser weapon systems over the next few years to support the Army's air defense mission against group 1-3 unmanned aircraft systems. This marks a significant expansion in the company's directed energy portfolio.

The contract news follows a strong fiscal Q4 earnings report, in which revenue surged to $641.6 million from $275.1 million a year earlier, more than doubling year-over-year. Adjusted EPS came in at $1.84, well above the consensus estimate of $1.46. The combination of a major military order and robust earnings momentum has reinforced market confidence in AeroVironment's sustained defense business growth trajectory.

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