Welcome to our dedicated page for VSE news (Ticker: VSEC), a resource for investors and traders seeking the latest updates and insights on VSE stock.
VSE Corporation (VSEC) is a diverse and dynamic company specializing in providing high-quality aftermarket products and services. VSE stands out by focusing on creating, sustaining, and improving the systems, equipment, and processes of its customers, which include commercial and government markets. The company’s core competencies include supply chain management, legacy systems sustainment, maintenance, repair, and overhaul (MRO), obsolescence management, prototyping, reverse engineering, technology insertion, foreign military sales, management consulting, and process improvement.
Key Operations:
- Supply Chain Management: VSE offers comprehensive solutions to enhance customers' supply chains, ensuring efficiency and reliability.
- Maintenance, Repair, and Overhaul (MRO): The company provides critical MRO services for various sectors, including vehicle fleets, aviation, and maritime operations.
- Parts Distribution: VSE is a leading provider of aftermarket parts distribution, particularly in the aviation sector, supporting commercial, business, and general aviation operators.
- Consulting Services: Management consulting and process improvement services help clients optimize their operational efficiency and effectiveness.
Segments and Financial Health:
VSE operates primarily through two reportable segments: Aviation and Fleet. The Aviation segment, which generates the majority of the company’s revenue, provides aftermarket parts distribution and MRO services for components and engine accessories. These services are essential for commercial, business, and general aviation operators. The Fleet segment supports a wide range of vehicle fleets, offering MRO, parts supply, and distribution services.
Nationwide and Global Presence:
VSE leverages a nationwide network of local offices, giving it unmatched access to a spectrum of corporate resources and services across diversified engineering, logistics, management, and information technology disciplines. The company's global reach is further extended through its foreign military sales and international partnerships.
Recent Achievements and Projects:
VSE continues to excel through its talented team of professionals who are dedicated to maintaining and modernizing products, equipment, and systems. The company's recent projects and achievements include significant advancements in technology insertion, successful reverse engineering initiatives, and the implementation of comprehensive obsolescence management strategies.
Driven by principles of integrity, honesty, and self-governance, VSE Corporation continues to deliver high-quality, cost-effective solutions that meet the evolving needs of its diverse customer base.
VSE reported third quarter 2024 results with total revenues of $273.6 million, up 18.3% year-over-year. The Aviation segment achieved record performance with revenue of $203.6 million, a 34% increase. GAAP Net Income was $11.7 million, down 3.8%, while Adjusted EBITDA reached $33.2 million, up 2.6%. The company announced plans to acquire Kellstrom Aerospace for $200 million, expected to close in Q4 2024. VSE increased its full-year 2024 Aviation segment revenue growth guidance to 39-41% while revising Fleet segment guidance to -5% to -10%. The company completed a follow-on equity offering in October 2024, raising approximately $163.8 million to partially fund the Kellstrom acquisition.
VSE (NASDAQ: VSEC) has priced its public offering of common stock at $87.00 per share, offering 1,724,137 shares with an option for underwriters to purchase an additional 258,620 shares. The offering is expected to close on October 17, 2024, with anticipated net proceeds of approximately $142.5 million. VSE plans to use the proceeds to partially finance its acquisition of Kellstrom Aerospace Group, Inc.
The offering is led by Jefferies and RBC Capital Markets as joint lead book-running managers, with William Blair, Stifel, and Truist Securities as joint book-running managers. B. Riley Securities and The Benchmark Company are serving as co-managers. An automatically effective shelf registration statement has been filed with the SEC, and a preliminary prospectus supplement and accompanying prospectus are available on the SEC's website.
VSE (NASDAQ: VSEC), a leading aftermarket distribution and repair services provider, has announced a public offering of common stock. The offering includes an option for underwriters to purchase up to an additional 15% of shares within 30 days. Net proceeds will partially finance the acquisition of Kellstrom Aerospace Group, Inc. Jefferies and RBC Capital Markets are joint lead book-running managers for the offering.
The offering is made through an effective shelf registration statement filed with the SEC. A preliminary prospectus supplement and accompanying prospectus will be available on the SEC's website. Interested parties can obtain copies from Jefferies or RBC Capital Markets,
VSE (NASDAQ: VSEC) has announced a definitive agreement to acquire Kellstrom Aerospace Group, Inc., a global distributor and service provider for the commercial aerospace engine aftermarket. The $200 million acquisition, expected to close in Q4 2024, includes $185 million in cash and $15 million in VSE common stock. This strategic move aims to expand VSE Aviation's presence in the growing commercial engine aftermarket, aligning with its OEM-focused strategy and broadening its global footprint.
Key highlights:
- Kellstrom generated approximately $175 million in revenue during the trailing twelve months through August 2024
- Expected synergies of about $4 million
- Anticipates near-term path to 15%+ Adjusted EBITDA margins for Kellstrom
- Pro Forma Net Leverage Ratio expected to be less than 3.5x upon closing
VSE also provided preliminary Q3 2024 results, with revenue estimated between $268-$275 million and Adjusted EBITDA between $31-$34 million.
VSE (NASDAQ: VSEC), a leading aftermarket distribution and repair services provider, has announced its participation in three upcoming investor conferences in September 2024. The company's senior management will attend:
1. Jefferies 2024 Industrials Conference in New York on September 4th, featuring a fireside chat at 3:40 PM ET.
2. Gabelli's 30th Annual Aerospace & Defense Symposium in New York on September 5th, with a fireside chat at 2:15 PM ET.
3. 2024 RBC Capital Markets Global Industrials Conference in Las Vegas on September 24th, hosting a breakout session at 9:20 AM PT.
At all events, management will participate in one-on-one investor meetings. Interested parties can contact VSE's Investor Relations for more information or to schedule meetings.
VSE (NASDAQ: VSEC) has announced two key executive appointments. Adam Cohn will join as Chief Financial Officer on September 3, 2024, bringing over 15 years of aerospace and finance experience. He will oversee VSE's financial strategies and lead the global finance organization. Garry Snow will assume the newly created role of Chief Growth Officer on September 16, 2024, leveraging his expertise from Boeing, KLX Inc., and Satair to support future organic growth strategies.
These appointments aim to strengthen VSE's leadership team and drive financial performance and growth. The company's CEO, John Cuomo, expressed confidence in both executives' abilities to contribute to VSE's transformation and market expansion in the aerospace industry.
VSE (NASDAQ: VSEC), a leading aftermarket distribution and repair services provider, has announced its participation in the Seaport Research Partners Annual Summer Investor Conference on August 20th, 2024. John Cuomo, President and CEO, and Michael Perlman, VP of Investor Relations and Treasury, will be available for one-on-one investor meetings during the event. This conference provides an opportunity for VSE to engage with investors and discuss the company's performance and strategies. Interested parties can contact VSE's Investor Relations at investors@vsecorp.com for more information or to schedule a meeting with senior management.
VSE (NASDAQ: VSEC), a leading provider of aftermarket distribution and repair services, has announced a regular quarterly cash dividend. The Board of Directors has declared a dividend of $0.10 per share of VSE common stock. This dividend will be payable on November 20, 2024, to stockholders of record at the close of business on November 6, 2024. This announcement demonstrates VSE's commitment to providing consistent returns to its shareholders and reflects the company's financial stability.
VSE announced Q2 2024 results with record revenue for the Aviation segment.
Total revenue rose 29.6% to $266 million. Despite the growth, the company reported a GAAP net loss of $(2.8) million and a GAAP EPS of $(0.16). Adjusted EBITDA increased 18.4% to $31.3 million, and adjusted net income rose 4.5% to $11.0 million.
The Aviation segment boosted revenue by 55% to $192.8 million, with operating income up 55%. Meanwhile, the Fleet segment faced a 9% revenue decline due to the USPS’s transition to a new system.
Strategic updates include scaling the European distribution center, launching an OEM manufacturing program, and integrating new acquisitions. VSE completed a follow-on equity offering in May 2024, raising $162 million to reduce debt and support future acquisitions.
As of June 30, 2024, the company had $194 million in liquidity and reaffirmed its full-year revenue and EBITDA guidance.
VSE (NASDAQ: VSEC), a leader in aftermarket distribution and repair services, will release its second quarter 2024 financial results on July 31, 2024, after market close. A conference call to discuss the results will be held on August 1, 2024, at 8:30 A.M ET. Interested parties can access the live webcast and presentation materials via the Investor Relations section of VSE's website. For participation in the teleconference, domestic and international dial-in numbers are provided, along with a replay option available until August 15, 2024.
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