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 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.
VSE (NASDAQ: VSEC), a leading provider of aftermarket distribution and repair services, announced its participation in several upcoming investor conferences in June 2024.
On June 4, 2024, John Cuomo, the President and CEO, will present at William Blair's 44th Annual Growth Stock Conference in Chicago, Illinois, at 10:00 AM Central Time.
On June 5, 2024, he will present at Stifel's 2024 Cross Sector Insight Conference in Boston, Massachusetts, at 8:35 AM Eastern Time.
Finally, on June 12, 2024, he will participate in a fireside chat at the Wells Fargo Industrials Conference in Chicago, Illinois, at 3:00 PM Central Time.
Management will also engage in one-on-one investor meetings during these events.
VSE (NASDAQ: VSEC), a key provider of aftermarket distribution and repair services, has announced a regular quarterly cash dividend of $0.10 per share. Approved by the company's Board of Directors, this dividend is slated for payment on July 31, 2024, to shareholders of record as of July 17, 2024.
VSE (NASDAQ: VSEC), a leading provider of aftermarket distribution and repair services, announced the pricing of its public offering of 2,112,676 shares of its common stock at $71.00 per share. The offering, expected to close on May 17, 2024, may raise approximately $141.0 million in net proceeds, after deducting underwriting discounts and commissions. VSE has granted underwriters a 30-day option to purchase up to an additional 316,901 shares. The proceeds will primarily be used to repay borrowings under its revolving loan facility and to support acquisitions, including Turbine Controls, Inc. Jefferies, RBC Capital Markets, and William Blair are among the joint lead book-running managers for the offering. The offering is being made via a preliminary prospectus supplement and an accompanying prospectus filed with the SEC.
VSE (NASDAQ: VSEC), a key player in aftermarket distribution and repair services, announced a public offering of shares of its common stock, subject to market conditions. VSE plans to grant underwriters a 30-day option to purchase up to an additional 15% of the shares offered. The proceeds will largely be used to repay existing borrowings and fund future strategic acquisitions, including the recent acquisition of Turbine Controls, Inc. Jefferies, RBC Capital Markets, and William Blair are managing the offering. The offering is under a shelf registration statement filed with and declared effective by the SEC.
VSE (NASDAQ: VSEC) reported record revenue and profitability for its Aviation segment in the first quarter of 2024. Total revenues increased by 28.1% to $241.5 million, with GAAP net income up by 49.0% to $12.1 million. Adjusted EBITDA rose by 36.7% to $32.3 million. The company completed the acquisition of Turbine Controls, Inc., expanding its capabilities in the commercial aviation market. VSE also announced strategic initiatives in its Aviation segment and corporate restructuring activities for 2024.
VSE (NASDAQ: VSEC) announced the appointment of Tarang Sharma as the interim Chief Financial Officer, succeeding Steve Griffin who is leaving the company. VSE is actively searching for a permanent CFO. Griffin will assist in the transition for three months. VSE's President and CEO, John Cuomo, praised Griffin's contributions and expressed confidence in Sharma's ability to lead the financial operations temporarily. The company has a strong succession planning process in place to ensure a smooth transition.
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