Every 10-Q that VSE Corp (VSEC) has filed with the SEC in the last 24 months is listed below, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-Q covers the quarterly report filed between annual reports, so if you follow VSEC and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full VSEC filings page.
VSE Corporation reported strong aviation-focused results for the quarter ended June 30, 2026. Revenues were $449,137 (in thousands), a 65% year-over-year increase, driven by higher commercial demand and acquisitions. Repair revenue rose 149% and distribution revenue 17%. Net income from continuing operations was $28,523 (in thousands), up 109% year-over-year; for the first half of 2026 it reached $57,578 (in thousands).
The company transformed its scale with the May 5, 2026 acquisition of Precision Aviation Group for total preliminary consideration of $2,020,007 (in thousands), including cash, equity and an earn-out obligation of $33,850 (in thousands) with potential additional payments up to $125,000 (in thousands). Earlier acquisitions of NorthStar and Aero 3 further expanded MRO and distribution capabilities.
To fund this growth, VSE completed February 2026 offerings of common stock and 5.750% tangible equity units, generating approximately $1.3 billion in net proceeds, and entered a new $900,000 (in thousands) Term Loan B plus a $500,000 (in thousands) revolver. Total assets rose to $4,397,406 (in thousands), and goodwill to $1,810,424 (in thousands). Operating cash flow for the first half was a use of $34,707 (in thousands), reflecting heavy investment in inventory and integration.
VSE Corporation’s March 31, 2026 quarter shows major growth and portfolio transformation around aviation aftermarket services. Revenue from continuing operations rose to $324.6 million, up 27% from $256.0 million, driven by 26% higher distribution sales and 28% higher repair revenue.
Net income from continuing operations increased to $29.1 million, more than double the prior year’s $14.0 million, helped by higher volume, better sales mix and lower net interest expense, while diluted EPS from continuing operations reached $1.04. Cash and cash equivalents climbed to $1.24 billion, primarily from February 2026 equity and tangible equity unit offerings that generated about $1.3 billion of net proceeds.
The company is reshaping into a pure-play aviation business, having sold its Fleet and Federal and Defense segments, acquiring Aero 3 and Turbine Weld in 2025, and closing the Precision Aviation Group acquisition in May 2026 for approximately $2.025 billion, funded with offering proceeds and a new $900.0 million term loan B facility. Management reports one aviation segment, continued dividend payments of $0.10 per share, and compliance with credit agreement covenants.
VSE Corporation (VSEC) filed its Q3 2025 10‑Q, highlighting strong top-line growth alongside one-time charges. Revenue rose to $282.9 million for the quarter, up 39% year over year, with Distribution up 49% and Repair up 25%. Nine-month revenue reached $811.1 million.
Operating income was $10.1 million in Q3, down due to a $23.3 million fair value charge that fully wrote down the Fleet-sale earn-out receivable. Net income from continuing operations was $3.6 million in Q3 and $31.2 million year to date; discontinued operations drove a year‑to‑date net loss of $1.9 million. Diluted EPS from continuing operations was $0.17 in Q3. The company declared a quarterly dividend of $0.10 per share.
VSE closed the Turbine Weld acquisition in May and adjusted Kellstrom purchase accounting. Liquidity remained supported by a new credit agreement: term loan $298.1 million and revolver borrowings $61.6 million as of September 30, with weighted average rates near 6%. Subsequent event: on October 27, 2025, VSE signed a definitive agreement to acquire GenNx/AeroRepair for approximately $350 million in cash, subject to customary closing conditions.