AEVEX Corp (NYSE:AVEX) reported financial results for the first quarter after the market close on Wednesday. Here’s a look at the key highlights from the print.

AEVEX stock is trading at depressed levels. What’s the outlook for AVEX shares?

AEVEX Q1 Highlights

AEVEX reported first-quarter revenue of $216.69 million, beating analyst estimates of $200.02 million. The company posted first-quarter earnings of 22 cents per share, beating estimates of 16 cents per share, according to Benzinga Pro.

Total revenue was up 307% on a year-over-year basis, reflecting “robust demand” for the company’s autonomous systems and mission software. AEVEX also reported a funded backlog of $356.62 million.

“Across our portfolio, our teams ...