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 Corporation (NASDAQ: VSEC) has secured a 12-month contract valued at approximately $100 million from Naval Sea Systems Command (NAVSEA). This contract enables VSE to provide Foreign Military Sales Follow-on Technical Support, aiding foreign navies with lifecycle optimization, integration support, and supply chain distribution. With over 25 years of partnership, VSE is recognized for its expertise in supporting the U.S. Navy and its allies. This contract enhances VSE's position in global ship repair and logistics services.
VSE Corporation (NASDAQ: VSEC) will release its fourth quarter and full-year 2021 financial results after the market closes on March 9, 2022. A conference call is scheduled for March 10, 2022, at 8:30 A.M. ET to discuss these results, recent events, and a Q&A session. Investors can access the webcast via VSE's Investor Relations website. Additionally, replay of the teleconference will be available until March 24, 2022.
VSE specializes in aftermarket distribution and MRO services for transportation assets, catering to government and commercial sectors.
VSE Corporation (NASDAQ: VSEC) has appointed Edward P. Dolanski to its Board of Directors effective January 1, 2022. Dolanski, an accomplished executive in the aerospace and defense industries, brings over 30 years of experience, including leadership roles at Boeing and Raytheon. His background includes management of global supply chains and corporate strategy, positioning him to contribute significantly to VSE's growth. With this appointment, VSE's board expands to nine members, aiming to leverage Dolanski's expertise to enhance its capabilities in aftermarket distribution and MRO services for transportation assets.
VSE Corporation (NASDAQ: VSEC) has declared a quarterly cash dividend of
VSE Corporation (NASDAQ: VSEC) reported a significant increase in third-quarter 2021 results compared to the same period in 2020. Total revenues reached $200.6 million, up 21.2% year-over-year. The GAAP net income grew by 11.3% to $9.0 million, while adjusted net income soared 42.5% to $9.7 million or $0.76 per adjusted diluted share. The aviation segment saw a remarkable 101.9% jump in revenue, driven by new contracts and acquisitions. The company generated $21.0 million in free cash flow and ended the quarter with over $117 million in liquidity.
VSE Corporation (NASDAQ: VSEC) will release its third quarter 2021 results after market close on October 27, 2021. A conference call to review financial results and discuss recent events will occur on October 28, 2021, at 8:30 A.M. ET. Interested parties can access the live conference call via phone or through a webcast on VSE's Investor Relations website.
VSE provides aftermarket distribution and maintenance, repair, and overhaul services across various transportation sectors, supporting both government and commercial markets.
VSE Corporation (NASDAQ: VSEC) has announced a 5-year extension of its distribution agreement with a global aircraft engine manufacturer, valued at approximately $125 million. This extension allows VSE Aviation to continue as the exclusive distributor of fuel control systems and spare parts for business and general aviation markets, ensuring support for over 15,000 aircraft globally. The contract, which was set to expire in 2024, will now run through 2029, with expected annual revenue contributions remaining consistent with previous periods.
VSE Corporation (NASDAQ: VSEC) has appointed Farinaz S. Tehrani as Senior Vice President, Chief Legal Officer, and Corporate Secretary, effective August 16, 2021. Tehrani brings over two decades of legal and compliance experience from various sectors, including healthcare and infrastructure. She will report to CEO John Cuomo and oversee VSE's legal and compliance functions. Cuomo emphasizes Tehrani's qualifications will enhance stakeholder value. Previously, she held senior legal positions at companies like Advantia Health and Transurban Group.
VSE Corporation (NASDAQ: VSEC) reported second quarter 2021 results, showing a 3.8% increase in total revenues to $175.1 million. Adjusted net income rose by 16% to $7.7 million. The aviation segment revenue surged by 52.3%, with distribution revenue exceeding pre-pandemic levels. The fleet segment saw a 12.2% growth, driven by commercial fleet sales and e-commerce fulfillment. However, the company also faced a non-cash $24.4 million inventory reserve loss related to the aviation segment. VSE continues its business transformation strategy, focusing on higher-margin opportunities and successful acquisitions.
VSE Corporation (NASDAQ: VSEC) has declared a regular quarterly cash dividend of $0.09 per share of common stock. This dividend is payable on November 17, 2021, to stockholders recorded at the close of business on November 3, 2021. VSE is a prominent provider of aftermarket distribution and maintenance, repair, and overhaul (MRO) services for various transportation assets, catering to both government and commercial markets. The company emphasizes its commitment to delivering high-quality MRO services, parts distribution, and supply chain management.
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