Every 8-K 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 8-K covers material events a company has to report between its quarterly 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’s Board of Directors has declared a regular quarterly cash dividend of $0.10 per share of common stock. The dividend is payable on October 29, 2026 to stockholders of record at the close of business on October 15, 2026. The Board approved this dividend on August 4, 2026 and the company announced it on August 6, 2026.
VSE, headquartered in Miramar, Florida, provides aviation aftermarket distribution and maintenance, repair, and overhaul services for commercial and business and general aviation customers.
VSE Corporation reported a very strong second quarter 2026, driven by large aviation aftermarket acquisitions and solid organic growth. Revenue from continuing operations rose to $449.1 million, up 65.0% year over year, with organic revenue growth of approximately 14%. GAAP net income from continuing operations was $28.5 million, up 109.1%, and diluted EPS reached $0.91, up 37.9%.
Adjusted EBITDA from continuing operations increased 98.0% to a record $86.0 million, with Adjusted EBITDA margin improving to 19.2%, up about 320 basis points. The company completed its largest-ever deal, acquiring Precision Aviation Group for about $2.025 billion, and also closed the NorthStar acquisition, significantly expanding scale and capabilities. VSE generated second-quarter operating cash flow of $27.6 million and free cash flow of $18.7 million. Net debt stood at $871.6 million with an Adjusted net leverage ratio of about 2.4x. Based on first-half performance and integration progress, VSE raised full-year 2026 guidance to revenue growth of 61%–64% and Adjusted EBITDA margin of 18.7%–19.0%.
VSE Corporation reported results from its 2026 annual stockholder meeting and a new dividend. Stockholders representing 26,211,532 shares, or 93.42% of the 28,055,393 shares entitled to vote as of March 10, 2026, were present in person or by proxy.
All eight director nominees were elected, Grant Thornton LLP was ratified as independent auditor for the year ending December 31, 2026, and a non-binding advisory vote approved the Company’s executive compensation. Stockholders also approved an amendment to the Certificate of Incorporation authorizing the issuance of blank check preferred stock.
The Board of Directors declared a regular quarterly cash dividend of $0.10 per share of common stock, payable on July 29, 2026 to stockholders of record at the close of business on July 15, 2026.
VSE Corporation completed its acquisition of Precision Aviation Group (PAG) for $2.025 billion, combining $1.75 billion in cash with approximately $275 million of equity and up to $125 million in contingent earnout payments tied to 2026 profitability.
The deal is funded partly by a new $900 million Term Loan B and an upsized $500 million revolving credit facility. PAG generated $595.6 million of revenue and $16.6 million of net income in 2025, and VSE expects the transaction to increase its revenue by about 50% on a 2025 pro forma basis and be immediately accretive to Adjusted EBITDA margins.
VSE Corporation reported record first quarter 2026 results, led by strong aviation aftermarket growth and major acquisitions. Revenue rose to $324.6 million, up 26.8% from 2025, while GAAP net income from continuing operations increased to $29.1 million, up 108.0%. Diluted EPS from continuing operations was $1.04, with Adjusted EPS of $1.17. Adjusted EBITDA grew 37.4% to $55.4 million, lifting Adjusted EBITDA margin to 17.1%.
VSE closed two strategic deals: the acquisition of NorthStar Technologies on April 1, 2026 and the acquisition of Precision Aviation Group for $2.025 billion in cash and equity on May 5, 2026, significantly expanding engine services, repair capabilities, and global footprint. To support PAG, the company completed follow-on equity and tangible equity unit offerings and put in place a new $900 million Term Loan B and an upsized $500 million revolver.
As of March 31, 2026, VSE held $1.239 billion in cash and cash equivalents and total debt of $366.3 million, resulting in negative net debt. Free cash flow was $(68.7) million for the quarter, reflecting working capital and investment needs. The company raised its full year 2026 revenue growth outlook to a range of 57% to 61% and now expects full year Adjusted EBITDA margin between 18.1% and 18.5%, both primarily due to including PAG while keeping expectations for the underlying business unchanged.
VSE Corporation reported that its Board of Directors has declared a regular quarterly cash dividend of $0.10 per share of common stock. The dividend will be paid on April 29, 2026 to stockholders who are on record at the close of business on April 15, 2026. The Board approved this dividend on February 24, 2026, and the company released the related announcement on February 25, 2026.
VSE Corporation reported a strong fourth quarter and a transformational full year 2025 as a pure-play aviation aftermarket company. Fourth quarter revenue reached $301.2 million, up 32%, with GAAP net income of $22.3 million up 114% and diluted EPS of $0.98 up 92%.
For 2025, revenue was $1.1 billion, up 41%, while GAAP net income from continuing operations rose to $53.5 million, up 176%, and diluted EPS climbed to $2.52, up 133%. Adjusted EBITDA was $182.9 million, up 56%, and adjusted EPS was $3.92, up 87%.
The aviation segment posted record results, with 2025 revenue of $1.11 billion and operating income of $148.3 million. VSE generated $27 million of operating cash flow and $5.7 million of free cash flow for the year, ending 2025 with $223.4 million of net debt and an adjusted net leverage ratio of about 1.1x.
The company agreed to acquire Precision Aviation Group, which expects approximately $615 million of adjusted 2025 revenue and an adjusted EBITDA margin above 20%. Closing is expected in the second quarter of 2026, with initial annualized cost and in-sourcing synergies estimated to exceed $15 million.
For 2026 (excluding PAG), VSE guides to consolidated revenue growth of about 19%–23% and an adjusted EBITDA margin of 16.8%–17.3%, supported by the Aero 3 and Turbine Weld acquisitions and anticipated organic margin expansion.
VSE Corporation completed an underwritten public offering of 9,200,000 tangible equity units at a stated amount of $50.00 per Unit, generating approximately $446.2 million in net proceeds after underwriting discounts and commissions.
Each Unit consists of a prepaid stock purchase contract and an amortizing note. The purchase contracts are scheduled to settle on February 1, 2029, into shares of common stock based on a formula tied to future trading prices. The amortizing notes have an initial principal amount of $7.8225 and pay quarterly cash installments that combine interest at 5.930% per year with principal repayment.
VSE plans to use the net proceeds from this Unit offering together with proceeds from a concurrent common stock offering mainly to fund part of the cash consideration for its previously announced acquisition of PAG HoldCo. If that acquisition is not completed by October 29, 2026, the company has options to redeem all outstanding purchase contracts for cash or stock under specified pricing formulas.
VSE Corporation entered an underwriting agreement to sell 3,989,362 shares of common stock at $188.00 per share, and the underwriters exercised in full their option to buy an additional 598,404 shares.
The company expects net proceeds of about $830.2 million, to be used together with a concurrent tangible equity unit offering to fund part of the cash consideration for its previously announced acquisition of PAG HoldCo. Until then, funds may be used for general corporate purposes or debt repayment, and if the PAG deal is not completed, the proceeds will be used for general corporate purposes, including potential debt repayment. Executive officers and directors agreed to a 60‑day lock‑up on common stock sales.
VSE Corporation filed an 8-K to provide detailed financial information related to its planned acquisition of PAG Holdco, the parent of Precision Aviation Group. The filing notes that closing of the PAG Acquisition remains subject to regulatory approvals and other customary closing conditions.
The company furnished audited consolidated financial statements of PAG and its subsidiaries for the years ended December 31, 2024 and 2023, along with related auditor reports, plus additional audited 2023 statements. It also included unaudited PAG interim financial statements and unaudited pro forma condensed combined financial information for VSE and PAG, giving effect to the acquisition.
VSE Corporation entered a stock purchase agreement to acquire PAG HoldCo, parent of Precision Aviation Group, for an up-front purchase price of $2.025 billion, consisting of $1.75 billion in cash and $275 million in newly issued Class B shares. The Seller may receive up to an additional $125 million earnout in cash, VSE common stock, or a mix, if fiscal 2026 profitability targets are met, and closing is conditioned on U.S., Australian and U.K. regulatory approvals.
VSE obtained a Debt Commitment Letter for up to $1.95 billion of new financing and backstop commitments for its existing credit facilities. The Seller will receive exchangeable Class B shares, registration rights for VSE stock, and is subject to staged lock-up periods after closing and any earnout share issuance. For 2025, VSE preliminarily estimates Adjusted EBITDA of approximately $45–$53 million for Q4 and $176–$184 million for the full year, and expects positive full-year free cash flow.
VSE Corporation reported that its Board of Directors has declared a quarterly cash dividend of $0.10 per share. The dividend will be paid on January 29, 2026 to stockholders who are on record as of January 15, 2026. The Board approved this dividend on November 18, 2025, and the company announced it publicly in a press release dated November 19, 2025.
VSE Corporation entered into an underwriting agreement to sell 2,352,941 common shares at $170.00 per share. The underwriters exercised in full the 352,941-share option, and the offering is closing on October 29, 2025.
VSE estimates net proceeds of approximately $441.6 million (including the option exercise), after underwriting discounts and commissions and before offering expenses. The company plans to use the proceeds to fund all or a portion of the cash consideration for its previously announced acquisition of GenNx/AeroRepair IntermediateCo Inc., to support potential future strategic acquisitions, and for general corporate purposes, which may include temporary investment in liquid assets or repayment of borrowings under its revolving loan facility. The offering was made under VSE’s automatically effective Form S-3 with a prospectus supplement dated October 27, 2025. Executives and directors agreed to a 45-day lock-up.
VSE Corporation furnished a press release reporting its third-quarter results for the period ended September 30, 2025, and made related webcast materials available. In a separate release, the company announced it signed a definitive agreement to acquire GenNx/AeroRepair IntermediateCo Inc.
Both press releases are attached as Exhibits 99.1 and 99.2 and are incorporated by reference under Regulation FD. The materials are designated as furnished, not filed, under the Exchange Act.
VSE Corporation reported that its Chief Accounting Officer, Tarang Sharma, has decided to resign from his position effective October 31, 2025 to pursue an opportunity outside the aviation industry. After his employment ends, he is expected to continue supporting the company in a transitional role through March 2026, providing consulting and advisory services under a planned consulting agreement. The company states that his decision to resign is not due to any disagreement regarding VSE’s operations, policies, practices, or financial reporting, suggesting continuity in its accounting and reporting approach during the transition.