Aviat Networks (NASDAQ:AVNW) Issues Quarterly Earnings Results, Misses Expectations By $0.36 EPS

Posted by Stanley Muller on May 4th, 2026

Aviat Networks (NASDAQ:AVNW – Get Free Report) released its earnings results on Monday. The communications equipment provider reported $0.06 EPS for the quarter, missing the consensus estimate of $0.42 by ($0.36), FiscalAI reports. Aviat Networks had a return on equity of 10.71% and a net margin of 3.27%.The business had revenue of $100.00 million for the quarter, compared to analyst estimates of $106.39 million.

Here are the key takeaways from Aviat Networks’ conference call:

Q3 results were weak with total revenue of $100.0M (down from $112.6M YoY) and GAAP gross margin slipping to ~29.3%; management said about $9 million of revenue was pushed out due to the Middle East conflict.
Updated fiscal 2026 guidance calls for full-year revenue of $428M–$440M and adjusted EBITDA of $35M–$40M, with management expecting Q4 normalization but keeping a range due to timing risks.
Management signaled meaningful upside from the MDU program — Aviat is supplier of choice with live deployments in >5 markets and expects an “eight‑figure” revenue contribution in fiscal 2027 and further demand for next‑gen products in 2028.
Tailwinds from utilities and BEAD: utilities (near 10% of revenue) see rising grid modernization spend and AI-related power investment, while BEAD-related wireless POs are expected to begin mid‑late 2026 with the biggest ramp in calendar 2027, positioning Aviat to capture rural broadband and fixed‑wireless demand.
Balance sheet and tax prospects improved — cash and marketable securities of $78.1M, net debt ~$26.1M, inventories down $4M, working capital improving, plus >$450M NOLs and a possible release of a foreign deferred tax valuation allowance within the next year that could produce a one‑time GAAP benefit.

Aviat Networks Stock Performance

AVNW stock traded down $0.48 during midday trading on Monday, hitting $22.64. The company’s stock had a trading volume of 234,301 shares, compared to its average volume of 148,207. The stock’s 50-day moving average price is $23.58 and its 200 day moving average price is $22.92. The company has a quick ratio of 1.56, a current ratio of 1.85 and a debt-to-equity ratio of 0.37. Aviat Networks has a 1 year low of $18.40 and a 1 year high of $27.02. The stock has a market cap of $292.06 million, a price-to-earnings ratio of 20.21 and a beta of 0.82.

Analyst Upgrades and Downgrades

AVNW has been the subject of several recent analyst reports. Zacks Research raised Aviat Networks from a “strong sell” rating to a “hold” rating in a research note on Friday, January 23rd. Wall Street Zen cut shares of Aviat Networks from a “buy” rating to a “hold” rating in a report on Sunday, April 26th. Roth Mkm reduced their price target on shares of Aviat Networks from $41.00 to $38.00 and set a “buy” rating for the company in a report on Wednesday, February 4th. B. Riley Financial restated a “buy” rating and issued a $36.00 price target (up from $35.00) on shares of Aviat Networks in a report on Wednesday, February 4th. Finally, Citizens Jmp restated a “market outperform” rating and issued a $30.00 price target on shares of Aviat Networks in a report on Wednesday, February 4th. Four research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, Aviat Networks has a consensus rating of “Moderate Buy” and a consensus price target of $34.50.

Get Our Latest Research Report on Aviat Networks

Insider Buying and Selling at Aviat Networks

In other Aviat Networks news, CEO Pete A. Smith sold 17,086 shares of the business’s stock in a transaction on Monday, February 9th. The stock was sold at an average price of $26.33, for a total value of $449,874.38. Following the transaction, the chief executive officer owned 358,747 shares of the company’s stock, valued at approximately $9,445,808.51. The trade was a 4.55% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Gary Croke sold 6,914 shares of the business’s stock in a transaction on Friday, February 6th. The stock was sold at an average price of $26.20, for a total value of $181,146.80. Following the completion of the transaction, the senior vice president directly owned 43,868 shares in the company, valued at approximately $1,149,341.60. This represents a 13.62% decrease in their position. The disclosure for this sale is available in the SEC filing. 5.30% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AVNW. Quarry LP purchased a new position in Aviat Networks in the third quarter valued at about $27,000. Raymond James Financial Inc. purchased a new position in shares of Aviat Networks during the 2nd quarter valued at $28,000. BNP Paribas Financial Markets lifted its position in shares of Aviat Networks by 96.5% during the 3rd quarter. BNP Paribas Financial Markets now owns 2,281 shares of the communications equipment provider’s stock valued at $52,000 after buying an additional 1,120 shares during the last quarter. Comerica Bank lifted its position in shares of Aviat Networks by 40.2% during the 1st quarter. Comerica Bank now owns 2,720 shares of the communications equipment provider’s stock valued at $52,000 after buying an additional 780 shares during the last quarter. Finally, Kestra Advisory Services LLC purchased a new position in shares of Aviat Networks during the 4th quarter valued at $69,000. 78.62% of the stock is currently owned by hedge funds and other institutional investors.

About Aviat Networks

(Get Free Report)

Aviat Networks, Inc is a specialist in wireless transport solutions, designing, manufacturing and selling microwave networking products that enable the secure and reliable transmission of data, voice and video. The company’s offerings address mission-critical communications needs for a broad range of end markets, including telecommunications service providers, utilities, government agencies and enterprises. Its product portfolio spans high-capacity packet microwave radios, IP transport systems and network management software.

Aviat’s core product lines include the WTM series of packet microwave platforms, which deliver scalable throughput and advanced resilience features, and the Eclipse packet microwave systems, which combine broadband capacity with synchronization, security and quality-of-service capabilities.