Welcome to our dedicated page for Vse news (Ticker: VSEC), a resource for investors and traders seeking the latest updates and insights on Vse stock.
VSE Corporation (NASDAQ: VSEC) is an aviation aftermarket company focused on distribution and repair services for the commercial and business and general aviation (B&GA) markets. The VSE news feed on Stock Titan aggregates company press releases and related coverage so readers can review the latest developments affecting its aviation platform.
Recent news highlights include announcements about the acquisition of GenNx/AeroRepair IntermediateCo Inc., the parent company of Aero 3, Inc., a diversified global MRO service provider and distributor supporting the commercial wheel and brake aftermarket. VSE has also reported on its public offering of common stock used to fund all or a portion of the cash consideration for the Aero 3 acquisition, as well as updates on quarterly financial results and guidance for its aviation business.
Investors following VSEC news will see updates on program awards and OEM partnerships, such as extended exclusive global distribution agreements through Kellstrom Aerospace for AMETEK Sensors and Fluid Management Systems and Hughes Treitler product lines, new distribution arrangements with Eaton and Bridgestone Aircraft Tire, and defense sustainment work with V2X, Inc. The company also issues releases about quarterly cash dividend declarations approved by its Board of Directors and schedules for investor conference participation and earnings conference calls.
This news page allows readers to track how VSE’s aviation aftermarket distribution and MRO strategy evolves through acquisitions, capital markets activity, OEM-aligned programs, and financial performance updates. For investors, analysts, and aviation industry observers, the VSEC news feed provides a centralized view of the company’s disclosed corporate actions and operating milestones.
VSE Corporation (NASDAQ: VSEC) has priced its public offering of 1,428,600 shares at $35.00 per share, raising net proceeds of approximately $47 million. The offering will close on February 2, 2021, pending standard conditions. Funds will be used for general corporate purposes, including financing strategic acquisitions and working capital for new programs. The underwriters have a 30-day option to purchase an additional 214,290 shares. William Blair & Company and Canaccord Genuity LLC are leading the offering.
VSE Corporation (NASDAQ: VSEC) has initiated an underwritten public offering of its common stock, subject to market conditions. The company plans to grant underwriters a 30-day option to purchase an additional 15% of the shares offered. Proceeds will be utilized for general corporate purposes, including financing acquisitions and working capital for new programs. William Blair & Company and Canaccord Genuity are serving as joint book-running managers for the offering. The offering is made under an effective shelf registration statement filed with the SEC.
VSE Corporation (NASDAQ: VSEC) has secured an exclusive, life-of-program distribution agreement with Pratt & Whitney Canada for the APS500 Auxiliary Power Unit (APU). VSE Aviation will distribute over 1,500 aftermarket parts for various aircraft, enhancing its role as a leading distributor of flight-critical components. This partnership aims to expand VSE's reach in MRO services for regional jets and business aviation. With this agreement, VSE anticipates significant growth opportunities in niche markets, supported by Pratt & Whitney's manufacturing capabilities.
VSE Corporation (NASDAQ: VSEC) has declared a quarterly cash dividend of $0.09 per share, payable on February 10, 2021 to stockholders of record by January 27, 2021. As a prominent provider of aftermarket distribution and maintenance services across transportation sectors, VSE emphasizes its commitment to shareholder returns. The company continues to serve government and commercial markets with core services including maintenance, repair, and supply chain management.
VSE Corporation (NASDAQ: VSEC) has announced a conference call on October 29, 2020, at 5:30 P.M. ET to review its third quarter 2020 financial results and discuss recent developments. This call was postponed due to a hurricane-related outage at the conference call vendor but is now rescheduled. A webcast of the call and presentation materials will be available on VSE's Investor Relations website. Investors can participate in the live teleconference via provided domestic and international numbers.
VSE Corporation (NASDAQ: VSEC) has postponed its third quarter 2020 earnings conference call due to a hurricane-related outage affecting its vendor. The company will announce a new date for the call in the future. VSE specializes in aftermarket distribution and maintenance services for various transportation assets across government and commercial markets, including MRO services, parts distribution, and logistics. Investors are encouraged to review the upcoming Form 10-Q report for more financial details.
VSE Corporation (NASDAQ: VSEC) reported a 16.5% decline in total revenues, totaling $165.5 million in Q3 2020 compared to Q3 2019. GAAP net income fell 23.0% to $8.1 million, with adjusted net income down 37.4% to $6.8 million. The company reported positive free cash flow of $11.3 million and reduced debt by $10.4 million. Despite challenging conditions, the Fleet segment grew revenue by 15.1%, driven by e-commerce expansion. A new $100 million distribution agreement in the Aviation segment is set to begin in Q1 2021.
VSE Corporation (NASDAQ: VSEC) has entered a five-year exclusive distribution agreement with a leading manufacturer of hydraulic landing gear components, valued at approximately $100 million. Starting January 2021, VSE will distribute over 150 line-replaceable units and 1,600 accessories for Boeing and Airbus platforms. This agreement enhances VSE's position in the hydraulic landing gear market and supports its 2021 growth strategy. The company plans to develop a comprehensive suite of landing gear solutions, simplifying the supply chain for global customers.
VSE Corporation (NASDAQ: VSEC) will announce its third quarter 2020 results on October 28, 2020, after market close. A teleconference is scheduled for October 29, 2020, at 8:30 A.M. EST to discuss financial outcomes and recent developments. Investors can access the live broadcast via the Investor Relations section of VSE’s website. A replay will be available until November 12, 2020. VSE provides maintenance, repair, and overhaul services across land, sea, and air transportation sectors, catering to both public and private markets.
VSE Corporation (NASDAQ: VSEC) announced the appointment of Stephen D. Griffin as the new Senior Vice President and Chief Financial Officer, effective November 9, 2020. He succeeds Thomas Loftus, who will remain until December 31, 2020 for a smooth transition. Griffin has over a decade of experience in senior finance roles at GE, overseeing a $15 billion engine services division. His addition aims to strengthen VSE's leadership as it enters a new phase of growth and value creation.