VSE Corporation
180.42-2.31 (-1.26%)
Oct 29, 4:00:00 PM EDT · NasdaqGS · VSEC · USD
Key Stats
Market Cap
4.16BP/E (TTM)
59.74Basic EPS (TTM)
3.02Dividend Yield
0%Recent Filings
10-Q
Q3 FY2025 results
VSE Corporation's Q3 FY2025 revenue climbed 39% y/y to $282.9M, fueled by acquisitions and robust demand in commercial aerospace, with products up 49% y/y to $176.0M and services rising 25% y/y to $106.9M. Operating income dipped 50% y/y to $10.1M, pressured by a $23.3M earn-out receivable write-down and higher amortization, yet margins held steady at 3.6% while interest expense fell 52% y/y to $4.3M on lower debt. Diluted EPS from continuing operations landed at $0.17, aligning with 20.8M weighted shares. Acquisitions like Turbine Weld in May 2025 for $49.9M cash added $13.3M goodwill and $24.0M intangibles over 10 years, bolstering MRO capabilities. Cash stood at $8.8M with $356.1M total debt under a new $700M facility maturing 2030, and $337.8M revolver availability. Free cash flow not disclosed in the 10-Q. Fleet sale in April 2025 yielded $136.2M cash but a $33.1M net loss from discontinued ops. Global trade tensions, including China's Unreliable Entity List, pose sourcing risks.
8-K
VSE Q3 results and Aero 3 acquisition
VSE Corporation reported third-quarter 2025 revenues of $282.9 million, up 38.9% year-over-year, with Adjusted EBITDA surging 58.4% to $47.4 million on strong aviation aftermarket demand and acquisition synergies. The company signed a definitive agreement to acquire Aero 3 for $350 million in cash, expanding its wheel and brake MRO footprint to twelve global facilities and boosting pro forma Adjusted EBITDA margins by over 50 basis points. VSE raised full-year revenue growth guidance to 38-40%. Aero 3 adds high-margin proprietary solutions.
8-K
CAO resigns, transitions to consulting
8-K
VSE declares $0.10 dividend
VSE Corporation's board declared a quarterly cash dividend of $0.10 per share, payable October 29, 2025, to shareholders of record on October 15, 2025, signaling steady cash flow confidence amid aviation aftermarket operations. Approved July 29, 2025, this payout underscores the company's commitment to returning value to investors. Forward-looking statements highlight risks that could alter results.
10-Q
Q2 FY2025 results
VSE Corporation's continuing operations surged in Q2 FY2025 ended June 30, 2025, with revenues climbing 41% year-over-year to $272.1 million, fueled by 50% growth in distribution and 27% in repair services from acquisitions and new contracts. Operating income jumped to $22.5 million from $2.6 million last year, while diluted EPS from continuing operations hit $0.66, up from a $0.31 loss, though net loss widened to $5.8 million YTD due to a $33.4 million discontinued operations hit from the April Fleet sale. Gross margin on products improved to 16.6% from 16.3% (derived), yet net loss exceeded operating income by over 20% from interest and taxes. The May Turbine Weld acquisition added $13.3 million goodwill and $24.0 million intangibles amortized over 10 years, bolstering MRO capabilities. Cash dipped to $16.9 million amid $34.7 million operating outflow, but $316.4 million revolver availability supports liquidity under the new May credit facility with $383.0 million debt at ~6.1%. Acquisitions drive the momentum. Government audits pose ongoing risks.
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