AeroVironment Shares Fall on Space Force Contract Termination

Dow Jones03-11

By Nicholas G. Miller

AeroVironment shares fell after the company said the U.S. Space Force had terminated a key contract for the company.

The stock fell 10% to $198.73 in off-hours trading. It was up 79% over the past 12 months through Tuesday's close.

AeroVironment said earlier this month that Space Force had temporarily paused its contract for the Satellite Communications Augmentation Resource program and it was in negotiations on a contract that provides a product with an expedited delivery timeline. The program makes up about half of AeroVironment's $3 billion unfunded backlog.

On Tuesday, the company said that Space Force had terminated the contract for convenience. AeroVironment said it could not come to a mutually acceptable agreement to modify the existing contract and resume work.

It said the Space Force will pay for allowable incurred costs with a fee and allow AeroVironment to recompete for the program with its revised requirements.

The disruptions in the Space Force program caused AeroVironment to report worse-than-expected quarterly results and cut its fiscal-year guidance on Tuesday.

Write to Nicholas G. Miller at nicholas.miller@wsj.com.

(END) Dow Jones Newswires

March 11, 2026 08:59 ET (12:59 GMT)

Copyright (c) 2026 Dow Jones & Company, Inc.

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It was up 79% over the past 12 months through Tuesday's close. \n\n\n  AeroVironment said earlier this month that Space Force had temporarily paused its contract for the Satellite Communications Augmentation Resource program and it was in negotiations on a contract that provides a product with an expedited delivery timeline. The program makes up about half of AeroVironment's $3 billion unfunded backlog. \n\n\n  On Tuesday, the company said that Space Force had terminated the contract for convenience. AeroVironment said it could not come to a mutually acceptable agreement to modify the existing contract and resume work. \n\n\n  It said the Space Force will pay for allowable incurred costs with a fee and allow AeroVironment to recompete for the program with its revised requirements. \n\n\n  The disruptions in the Space Force program caused AeroVironment to report worse-than-expected quarterly results and cut its fiscal-year guidance on Tuesday. \n\n\n \n\n\n  Write to Nicholas G. 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