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 (NASDAQ: VSEC), a leading provider of aftermarket distribution and repair services, announced that its Board of Directors has declared a regular quarterly cash dividend of $0.10 per share of VSE common stock.
The dividend is payable on February 6, 2025, to stockholders of record at the close of business on January 23, 2025.
AE Industrial Partners has completed the sale of Kellstrom Aerospace Group to VSE (NASDAQ: VSEC) for $200 million. Kellstrom is a leading aftermarket solutions provider for the commercial aerospace engine sector, serving over 30 OEMs and approximately 800 customers across 75 countries. Under AE Industrial's ownership, Kellstrom expanded through three strategic acquisitions: The Aircraft Group, Transaero Commercial Distribution, and Vortex Aviation. The company provides new parts, surplus material, and technical services to airlines, MROs, and lessors, maintaining one of the world's largest aircraft parts inventories.
VSE (NASDAQ: VSEC) has completed its acquisition of Kellstrom Aerospace Group, a global distributor and service provider in the commercial aerospace engine aftermarket. The transaction, valued at approximately $185 million in cash plus 172,414 common shares, strengthens VSE's OEM-centric value proposition and expands its distribution and MRO capabilities. The cash portion was funded through a combination of October's public offering proceeds and existing credit facility borrowings.
Kellstrom's engine-focused products, repair services, and technical advisory capabilities complement VSE Aviation's business, positioning the combined entity to better serve global aerospace aftermarket customers.
VSE (NASDAQ: VSEC) announced the relocation of its corporate headquarters to Miramar, Florida, co-locating with its Aviation segment headquarters and MRO center of excellence. The strategic move aims to enhance collaboration and create a more interconnected workspace. The company plans to invest $3.5 million in tenant improvements and add 110 new employees over the next five years to support its existing 250 South Florida-based workforce. The new headquarters is situated in the Miramar Park of Commerce between Miami and Fort Lauderdale, adjacent to a planned mixed-use town center development that will offer various amenities to employees.
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.
FAQ
What is the current stock price of VSE (VSEC)?
What is the market cap of VSE (VSEC)?
What does VSE Corporation specialize in?
What are the main segments of VSE Corporation?
How does VSE Corporation support its customers?
Where does VSE Corporation operate?
What industries does VSE Corporation serve?
What recent achievements has VSE Corporation made?
What are VSE Corporation's core values?
How does VSE Corporation ensure the quality of its services?
What is the significance of the Aviation segment to VSE Corporation?
How does VSE Corporation contribute to supply chain management?
