Vse Corp Stock Price, News & Analysis

VSE Corporation (NASDAQ: VSEC) has acquired Precision Fuel Components, LLC in an all-cash transaction, which is immediately accretive to its Aviation segment. Founded in 2001, Precision Fuel specializes in MRO services for the business and general aviation market. The acquisition aims to expand VSE's distribution and MRO capabilities, enhance customer acquisition, and position VSE as a consolidator in the fragmented B&GA services industry. Precision Fuel's established relationships and expertise will complement VSE's offerings, contributing to a more robust service portfolio for B&GA and rotorcraft markets.

VSE Corporation has announced the opening of a new 450,000 square-foot distribution and e-commerce fulfillment center near Memphis, Tennessee, which will double its Fleet segment warehouse capacity.

The facility aims to enhance delivery speed and service for aftermarket products, supporting an anticipated incremental revenue of $50 million in 2023. This expansion comes amid significant growth in VSE's commercial fleet sales, which rose from 10% to 40% of Fleet Segment revenue over four years. The center will stock over 175,000 SKUs and improve overall operational efficiency.

VSE Corporation (NASDAQ: VSEC) has declared a quarterly cash dividend of $0.10 per share, payable on February 9, 2023 to stockholders of record by January 26, 2023. The company specializes in aftermarket distribution and MRO services for transportation assets across governmental and commercial sectors. With a focus on engineering support, supply chain management, and consulting, VSE enhances operational efficiency and service delivery for its diverse customer base.

VSE Corporation (NASDAQ: VSEC) reported a strong Q3 2022, with total revenues of $242.5 million, a 21% increase year-over-year. GAAP net income decreased 4% to $9.4 million, while adjusted EBITDA rose 12% to $24.0 million. The Aviation segment achieved a 40% revenue increase, and the Fleet segment saw 23% growth in commercial revenue. VSE also secured new agreements valued at approximately $350 million to enhance its market presence and announced a new distribution facility in Memphis to support commercial demand.

VSE Corporation (NASDAQ: VSEC) announced four major distribution agreements via its VSE Aviation segment worth approximately $350 million. These contracts, ranging from 2 to 15 years, are set to begin in early 2023. Significant agreements include a 15-year partnership with Pratt & Whitney Canada for the Asia Pacific region and a 5-year exclusive distribution deal for fuselage mounted antenna systems in Europe, the Middle East, Africa, and India. These agreements strengthen VSE's position in the aviation market and enhance its long-term revenue potential.

VSE Corporation (NASDAQ: VSEC) will release its third quarter 2022 results on October 26, 2022, after market close. A conference call is scheduled for October 27, 2022, at 8:30 A.M. ET, to discuss financial results and recent events. Participants can register via the Investor Relations section of VSE's website. The live teleconference can be accessed domestically at (877) 407-0789 or internationally at (201) 689-8562. Replays will be available through November 10, 2022.

VSE Corporation (NASDAQ: VSEC) has amended and extended its existing credit facility, improving its financial flexibility. Key changes include:

• Increased borrowing capacity from $49 million to $100 million.
• Revolving credit facility capacity remains at $350 million.
• Maturity extended to October 2025.
• Reduced quarterly amortization payments from $3.8 million to $2.5 million.
• Transition to SOFR benchmark rate with a 0.00% floor.
• Increased maximum total leverage ratio from 4.25x to 4.50x, decreasing to 3.50x by October 2024.

VSE Corporation (NASDAQ: VSEC) will celebrate its 40th anniversary of trading on NASDAQ by ringing the opening bell on September 19, 2022. The ceremony, attended by President and CEO John Cuomo and other leaders, highlights VSE's growth to a market leader in aftermarket services for transportation assets, serving over 5,000 customers globally. The company emphasizes customer service and innovative solutions as it looks to the future. For more details, visit VSE's website.

VSE Corporation (NASDAQ: VSEC) announced a 38% increase in total revenues for Q2 2022, reaching $241.7 million, and marked its first-ever quarter exceeding $105 million in Aviation revenue, a 121% growth year-over-year. GAAP net income improved to $7.5 million from a loss of $12.4 million in Q2 2021. Adjusted EBITDA grew 21% to $22.9 million, while aviation segment's adjusted EBITDA surged 198%. Despite positive growth, bookings decreased 9% year-to-date, impacting funded backlog.