Aviat Networks (NASDAQ:AVNW) Releases Earnings Results, Beats Expectations By $0.06 EPS

Aviat Networks (NASDAQ:AVNW) posted its quarterly earnings results on Tuesday. The communications equipment provider reported $0.54 EPS for the quarter, beating analysts’ consensus estimates of $0.48 by $0.06, FiscalAI reports. The business had revenue of $111.47 million during the quarter, compared to the consensus estimate of $109.67 million. Aviat Networks had a return on equity of 10.82% and a net margin of 3.27%.

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

• Highest second-quarter bookings in 10 years, with book-to-bill >1 and wins broadly across service providers and private networks, signaling stronger backlog momentum heading into the back half of fiscal 2026.
• Financial improvement — six-month revenues up 5.9% to $218.8M, Q2 adjusted EBITDA $11.3M (10.1% of revenues), year-to-date adjusted EBITDA up $13.2M, $23.9M cash from operations in Q2, and net debt reduced to $18.9M.
• Early commercial traction on new products — first PO for the Aprisa LTE 5G rugged router (public safety) and an initial multi-dwelling-unit (MDU) fixed-wireless order from a U.S. Tier One provider — but timing, ramp and competitive dynamics mean revenue upside is uncertain.
• Management left full-year fiscal 2026 guidance unchanged at $440–$460M revenue and $45–$55M adjusted EBITDA and is explicitly excluding BEAD-related opportunities from guidance until timing and awards are clearer (BEAD exposure could benefit fiscal 2027).

Aviat Networks Trading Up 14.0%

Shares of AVNW stock opened at $25.57 on Thursday. Aviat Networks has a 1 year low of $15.80 and a 1 year high of $27.02. The company’s fifty day simple moving average is $21.59 and its two-hundred day simple moving average is $22.37. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.84 and a quick ratio of 1.51. The stock has a market capitalization of $328.32 million, a price-to-earnings ratio of 22.83 and a beta of 0.96.

Analysts Set New Price Targets

Several analysts recently weighed in on AVNW shares. Roth Mkm reduced their price objective on Aviat Networks from $41.00 to $38.00 and set a “buy” rating on the stock in a research note on Wednesday. Zacks Research upgraded shares of Aviat Networks from a “strong sell” rating to a “hold” rating in a research report on Friday, January 23rd. B. Riley reaffirmed a “buy” rating and set a $36.00 target price (up from $35.00) on shares of Aviat Networks in a research report on Wednesday. Weiss Ratings restated a “hold (c-)” rating on shares of Aviat Networks in a research report on Monday, December 29th. Finally, Lake Street Capital restated a “buy” rating and issued a $34.00 price target on shares of Aviat Networks in a research report on Wednesday, November 5th. Four analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $34.50.

Insiders Place Their Bets

In other news, CEO Pete A. Smith sold 5,350 shares of the firm’s stock in a transaction that occurred on Tuesday, November 11th. The shares were sold at an average price of $23.39, for a total value of $125,136.50. Following the completion of the transaction, the chief executive officer directly owned 349,447 shares in the company, valued at approximately $8,173,565.33. This trade represents a 1.51% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Bruce M. Taten sold 3,268 shares of the business’s stock in a transaction dated Tuesday, November 11th. The stock was sold at an average price of $23.39, for a total value of $76,438.52. Following the transaction, the director owned 20,391 shares of the company’s stock, valued at approximately $476,945.49. The trade was a 13.81% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 5.30% of the company’s stock.

Institutional Trading of Aviat Networks

A number of hedge funds have recently made changes to their positions in AVNW. Raymond James Financial Inc. bought a new position in Aviat Networks in the second quarter valued at $28,000. Quarry LP purchased a new stake in Aviat Networks in the third quarter worth approximately $27,000. BNP Paribas Financial Markets grew its position in Aviat Networks by 96.5% during the third quarter. BNP Paribas Financial Markets now owns 2,281 shares of the communications equipment provider’s stock valued at $52,000 after acquiring an additional 1,120 shares during the last quarter. Comerica Bank grew its position in Aviat Networks by 40.2% during the first quarter. Comerica Bank now owns 2,720 shares of the communications equipment provider’s stock valued at $52,000 after acquiring an additional 780 shares during the last quarter. Finally, PDT Partners LLC bought a new stake in shares of Aviat Networks in the 2nd quarter worth approximately $233,000. 78.62% of the stock is owned by institutional investors.

Aviat Networks News Summary

Here are the key news stories impacting Aviat Networks this week:

• Positive Sentiment: Q2 results beat consensus: Aviat reported $0.54 non‑GAAP EPS vs. $0.48 expected and $111.5M revenue vs. ~$109.7M expected; GAAP and non‑GAAP profitability expanded. Management highlighted strong cash generation and an expectation for a strong finish to FY2026. PR Newswire
• Positive Sentiment: Cash flow and balance sheet improvement drove net debt down to roughly $19M (over 50% reduction); company generated $23.9M operating cash in the quarter and cited record Q2 bookings — signals of stronger free cash flow and lower leverage. Seeking Alpha
• Positive Sentiment: B. Riley reaffirmed its “buy” rating and raised its price target to $36 (up from $35), signaling continued analyst confidence and implying meaningful upside vs. the prior trading level. B. Riley / Benzinga
• Positive Sentiment: Citizens JMP reaffirmed a “market outperform” rating with a $30 target, another data point supporting upside from current levels. Citizens JMP / Benzinga
• Neutral Sentiment: Earnings call and full transcripts are available for details on bookings mix, margin drivers and customer wins — useful for investors digging into guidance and product traction. Earnings Call Transcript (Fool)
• Neutral Sentiment: Zacks and other outlets note the EPS/revenue beat but also point out year-over-year revenue was slightly down vs. the prior-year quarter — keep an eye on demand trends across segments. Zacks
• Neutral Sentiment: Reported short‑interest data appears anomalous (shows zero), so short interest is not a meaningful driver in the near term based on public data. MarketBeat
• Negative Sentiment: Roth Capital trimmed its price target from $41 to $38 (but kept a “buy” rating) — a modest downward revision to implied upside that could temper enthusiasm compared with prior expectations. The Fly / Roth Capital

About Aviat Networks

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.