Welcome to our dedicated page for V2X news (Ticker: VVX), a resource for investors and traders seeking the latest updates and insights on V2X stock.
V2X, Inc. (NYSE: VVX) is a premier U.S.-based company providing vital services to the U.S. government and international clients. Formed by the merger of Vectrus and Vertex, V2X brings a combined 120 years of successful mission support, specializing in integrating physical and digital infrastructure. Headquartered in McLean, Virginia, the company operates globally with a workforce of approximately 16,000 employees dedicated to tackling complex challenges with agility and commitment.
V2X delivers a comprehensive suite of services that include facility and logistics solutions, information technology mission support, and engineering and digital integration services. The company's technical expertise encompasses communications systems operations and maintenance, system-of-systems engineering, software development, and extensive mission support capabilities for the Department of Defense (DoD).
The company's facility and logistics services are extensive, covering airfield management, civil engineering, emergency services, life support activities, and more. V2X's information technology and network communications capabilities ensure robust systems installation, activation, and maintenance, vital for the operational readiness of the DoD.
V2X has shown strong financial performance, demonstrated by a series of recent achievements. In early 2024, the company was awarded a $190 million contract from the U.S. Army to support the USARCENT Training and Range Operations Maintenance Services Contract. This contract underscores V2X's commitment to enhancing warfighter readiness with advanced Training Aids, Devices, Simulators, and Simulations (TADSS).
In the fourth quarter of 2023, V2X reported significant financial results, including record revenue and notable cash generation. The company achieved a backlog of approximately $13 billion, with a robust pipeline of future opportunities valued at $15 billion. These figures highlight V2X's robust market position and its ability to deliver long-term growth and value for shareholders.
V2X's commitment to innovation is further evidenced by its contracts to provide threat detection and response solutions to Chemical, Biological, Radiological, and Nuclear (CBRN) hazards. The company secured $75 million in new projects to lead the CBRN Support to Command and Control (CSC2) program and modernize threat warning systems. Additionally, V2X was awarded an $88 million contract to support Navy communications systems in the Pacific, extending through October 2029.
V2X is also a prime contractor for the U.S. Navy's Global Contingency Services Multiple Award Contract III (GCSMAC III), valued at up to $2 billion. This contract enables the company to provide critical support for a wide range of scenarios, including natural disasters, humanitarian efforts, and military actions.
Overall, V2X continues to demonstrate its ability to deliver comprehensive lifecycle solutions that improve security, streamline logistics, and enhance readiness. The company's strategic focus on expanding its capabilities and market reach positions it as a leader in the operational segment of the federal services market, dedicated to empowering clients' mission success through innovative and integrated solutions.
V2X (NYSE: VVX), a provider of global mission solutions, will participate in the Stifel 2024 Cross Sector Insight Conference in Boston. The event will take place on Wednesday, June 5, at 3:00 p.m. Eastern time. The company's management will address the conference, and a live webcast will be available at the provided link. The webcast will also be available for replay for 90 days.
V2X (NYSE: VVX), a leading provider of global mission solutions, will participate in the Baird 2024 Global Consumer, Technology & Services Conference.
The event is scheduled for June 4, 2024, at 3:45 p.m. Eastern time in New York City. The company's management will address the conference, potentially providing insights into its operations, strategies, and future prospects.
V2X (NYSE: VVX) announced that multiple sites under its operation were recognized by the Defense Information Systems Agency (DISA) as Facility of the Year. These awards highlight exemplary performance in the Department of Defense Information Network. Three V2X locations won top honors, supporting the OPMAS-E, ELVIS, and OMDAC programs, while four other sites were runners-up. Ken Shreves, SVP of Global Mission Solutions, appreciated the recognition and emphasized V2X's dedication to ensuring the reliability and security of DoD networks worldwide.
V2X, Inc. announced the appointment of Jeremy Wensinger as President, CEO, and Board member, succeeding Chuck Prow. With a 35-year career in defense and government services, Wensinger is set to lead the company's growth. The transition, effective June 17, 2024, aims to maintain positive business momentum.
V2X, Inc. (NYSE:VVX) announced solid first quarter 2024 results with revenue up 7.1% y/y to $1.01 billion. Operating income was $30.3 million, adjusted operating income at $62.9 million, and net income up $18.6 million y/y to $1.1 million. Adjusted EBITDA at $69.1 million with a 6.8% margin. Diluted EPS was $0.04, adjusted diluted EPS at $0.90. The company was selected for significant defense contracts, including technology solutions for threat detection and a $2 billion U.S. Navy contract. The 2024 guidance was reaffirmed with robust growth indicators.
V2X, Inc. (NYSE: VVX) extends its support to the National Training Center Training Services Contract (NTCTSC) with a one-year bridge contract with the US Army. This reinforces V2X's excellence in preparing warfighters for deployment, providing advisory services, technical expertise, and system operators at Ft. Irwin, CA. The contract includes various specialized training support services, and V2X's proven track record positions it uniquely to prepare soldiers for global missions.
V2X, Inc. (NYSE: VVX) has secured an $88 million contract to support Navy communication systems in the Pacific region. The contract spans until October 2029 and underlines V2X's dedication to enhancing Navy operations.
V2X, Inc. (NYSE: VVX) has secured a total of $75 million in funding to advance threat detection and response to CBRN hazards globally. The company will serve as the lead systems integrator under the CSC2 program, enhancing security and operational readiness against evolving threats. V2X is also set to modernize CBRN threat warning applications with an additional $25 million award, aiming to provide enhanced decision support tools. These initiatives highlight V2X's commitment to innovation in national defense and its pivotal role in advancing global security initiatives.
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