VEC - VEC STOCK NEWS

Vectrus, Inc. (NYSE:VEC) will release its financial results for the first quarter ending April 2, 2021 on May 11, 2021, post-market close. A conference call hosted by senior management will occur at 4:30 p.m. ET on the same day. U.S. participants can call 877-407-0792, while international callers can reach 201-689-8263. The call will also be accessible via a live webcast on Vectrus' Investor Relations site. A replay will be available for one year. Vectrus, based in Colorado Springs, has over 9,200 employees globally and reported $1.4 billion in sales in 2019.

Vectrus reported its fourth quarter and full-year 2020 results, highlighting the resilience of its business model amidst COVID-19 challenges. The company achieved a record backlog of $5.1 billion and strong operating cash flows of $50.9 million. Significant wins included the OMDAC-SWACA recompete worth $882 million over five years. However, Q4 revenue decreased by 2.7% year-on-year, mainly due to pandemic-related deferrals of $25.8 million. Looking ahead, Vectrus anticipates 2021 revenue between $1,645 million and $1,715 million with adjusted EBITDA margin guidance of 4.6% to 5.0%.

Vectrus, Inc. (NYSE: VEC) is set to release its financial results for the fourth quarter and full year of 2020 on March 2, 2021, after market close. Following the announcement, senior management will host a conference call at 4:30 p.m. ET. U.S. participants can dial 877-407-0792 while international participants can reach 201-689-8263. A live webcast along with a slide presentation will be accessible on the Vectrus Investor Relations website. A replay of the call will be available for a year on their website and via telephone until March 16, 2021.

Vectrus Systems Corporation has secured a prime contract for the Naval Base Coronado 5G Smart Warehouse project aimed at enhancing naval logistics efficiency through advanced technologies like inventory management and network security. This initiative is part of a larger $600 million DoD project for 5G experimentation across five military sites. The project will also serve as a testing ground for 5G-enabled technologies, supporting the Navy's transition to modern operational methods.

Vectrus, Inc. (NYSE: VEC) will participate in the Cowen 42nd Annual Aerospace/Defense & Industrials Conference on February 9, 2021, at 11:00 a.m. ET. Management's briefing will be accessible via a live audio webcast, which will remain available for replay for 90 days. Founded over 70 years ago, Vectrus is a provider of facility and base operations, supply chain and logistics services, information technology support, and engineering services, primarily serving U.S. government clients worldwide. The company generated $1.4 billion in sales in 2019.

Vectrus, Inc. (NYSE: VEC) has acquired HHB Systems, enhancing its capabilities in facilities management, logistics, and cybersecurity for the Intelligence Community. Founded in 2003, HHB Systems has over 50 skilled employees, with 95% holding Top Secret clearance. The acquisition aims to strengthen Vectrus’ position in the converged infrastructure market and is funded through cash on hand and a revolving credit line. This move follows Vectrus’ recent acquisition of Zenetex, positioning the company for greater growth opportunities in the Department of Defense and Intelligence Community sectors.

Vectrus Systems Corp. has secured an $882.5 million cost-plus-fixed-fee contract from the U.S. Army for the operation, maintenance, and defense of Army communications, with an expected completion date of December 26, 2025. This contract emphasizes Vectrus's commitment to supporting the OMDAC-SWACA mission, demonstrating the Army's confidence in the company. In 2019, Vectrus reported sales of $1.4 billion and has over 7,100 employees across 148 locations worldwide.

Vectrus, Inc. (NYSE: VEC) announced the acquisition of Zenetex, valued at approximately $112 million, net of an $11 million tax benefit. This strategic move enhances Vectrus' capabilities in defense solutions, expanding its client base and operational reach, particularly within the Intelligence Community and foreign military sales. Zenetex contributes a backlog of over $700 million in contracts, ensuring revenue visibility. The deal is expected to be accretive to Vectrus' earnings in 2021, marking a significant step in their converged infrastructure strategy.

Vectrus, Inc. (NYSE:VEC) reported third quarter 2020 results with revenue of $352.4 million, down 2.1% year-over-year due to COVID-19 impacts, yet up 4.9% sequentially. Operating income was $14.8 million with a 4.2% margin, and adjusted diluted EPS increased to $0.89 from $0.71 in Q3 2019. The company secured a contract for Navy Smart Warehouse Prototype 5G applications and a GSA IDIQ contract, boosting growth prospects. Cash at quarter-end reached $63.7 million, reflecting strong liquidity. 2020 guidance remains unchanged, forecasting revenue of $1.385 to $1.405 billion.