V2X Delivers Solid Second Quarter Results and Increases Full-Year Adjusted EPS Guidance

Rhea-AI Summary

V2X (NYSE:VVX) reported strong Q2 2025 results with revenue of $1.08 billion and net income of $22.4 million. The company's adjusted net income increased 61% year-over-year to $42.3 million, while adjusted EBITDA reached $82.4 million with a 7.6% margin.

Key highlights include a significant $4.3 billion T-6 aircraft program award, the establishment of a $100 million share repurchase authorization, and a $200 million year-over-year improvement in net debt. The company increased its 2025 adjusted EPS guidance to $4.65-$4.95 from the previous $4.45-$4.85, while maintaining revenue guidance of $4.375-$4.5 billion.

Positive

• Adjusted net income increased 61% year-over-year to $42.3 million
• Secured major $4.3 billion T-6 aircraft program contract
• Improved net debt by $200 million year-over-year
• Established $100 million share repurchase program
• Increased 2025 adjusted EPS guidance
• Adjusted operating income grew 18% from prior year
• Adjusted net cash from operations increased by $112.1 million year-over-year

Negative

• Operating margins remain relatively modest at 7.6% adjusted EBITDA

Insights

Financial Analyst

V2X delivers strong Q2 with 61% adjusted net income growth, secures major $4.3B contract, and raises 2025 EPS guidance.

V2X has delivered an impressive Q2 performance that demonstrates significant operational momentum and financial strength. The company reported $1.08 billion in revenue alongside $22.4 million in net income, but the adjusted figures tell an even more compelling story. Adjusted net income surged 61% year-over-year to $42.3 million, while adjusted EBITDA reached $82.4 million with a solid 7.6% margin.

The adjusted earnings per share of $1.33 represents a 59% year-over-year increase, significantly outpacing revenue growth and indicating substantial operational efficiency improvements. This efficiency is further evidenced by the $112.1 million year-over-year improvement in adjusted net cash provided by operating activities, which reached $58.3 million for the quarter.

The company's balance sheet has strengthened considerably with net debt reduction of $200 million compared to last year, providing increased financial flexibility. Management is leveraging this improved position to initiate a $100 million share repurchase program, signaling confidence in future performance while creating a potential floor for the stock price.

The $4.3 billion T-6 aircraft program award represents a transformative contract win that substantially enhances V2X's backlog. This program, supporting pilot training across multiple military branches through supply chain management for over 700 aircraft, aligns perfectly with the company's strategic focus on data-enabled mission solutions.

Most tellingly, management has raised the full-year adjusted EPS guidance from $4.45-$4.85 to $4.65-$4.95 while maintaining revenue, adjusted EBITDA, and cash flow targets. This pattern suggests that margin expansion and operational efficiency, rather than top-line growth, are driving improved profitability. The company appears well-positioned within its defense-focused markets, with its emphasis on readiness and training solutions particularly resonating in the current geopolitical environment.

Second Quarter and Recent Highlights

• Revenue of $1.08 billion and net income of $22.4 million
• Adjusted net income¹ of $42.3 million, up 61% y/y
• Adjusted EBITDA¹ of $82.4 million, with a margin of 7.6%
• Diluted EPS of $0.70; Adjusted diluted EPS¹ of $1.33, up 59% y/y
• Improved net debt by $200 million y/y
• Established $100 million share repurchase authorization
• Awarded $4.3 billion T-6 aircraft program

RESTON, Va., Aug. 4, 2025 /PRNewswire/ -- V2X, Inc. (NYSE: VVX) announced second quarter 2025 financial results. "Our second quarter results reflect V2X's ability to execute in all market environments and further demonstrate the resiliency of our business," said Jeremy C. Wensinger, President and Chief Executive Officer. "We believe the overall trends in our market remain positive and that V2X is well positioned to leverage our mission expertise and full lifecycle capabilities to deliver next generation data-enabled solutions that enhance readiness and customer outcomes."

Mr. Wensinger continued, "We are bringing innovation and new approaches to rapidly deploy solutions for improved readiness, which was exemplified by the recent $4.3 billion T-6 program award. The T-6 aircraft is widely used in a multi-service aviation training program that is critical to ensure new pilot readiness.  This award is an example of the strategy we are executing and it's an honor to have been selected to help ensure that pilots in the U.S. Air Force, Navy, and Army will be trained and ready for their next mission. V2X will use commercial-based approaches to provide full spectrum supply chain management solutions to enable this essential training-mission for over 700 aircraft."

"I'd like to thank all our employees for their contributions during the quarter and specifically recognize the recent success achieving full operational capability on the Army's largest training program. This is a remarkable accomplishment, which will ensure the delivery of critical training related services to Army warfighters worldwide by infusing cutting-edge innovations to meet ever-evolving needs." 

Mr. Wensinger concluded, "We are transforming V2X to be a leader in data-enabled mission solutions across all domains. The growth initiatives fueling this advancement include optimizing our core for on contract growth, leveraging capabilities into adjacent markets, extending new offerings, and strategically investing both internally and externally. We are executing on these initiatives today and believe they will accelerate growth, create differentiation, and yield value in the years to come."

Second Quarter 2025 Results

"V2X reported revenue of $1.08 billion in the quarter," said Shawn Mural, Senior Vice President and Chief Financial Officer. "The performance in the second quarter was strong and provides additional confidence to deliver on our full year commitments. The second quarter results reflect the great job our team has done in optimizing and refining our processes and procedures. I'm very proud of what we have been able to achieve over the past year."

"For the quarter, the Company reported operating income of $52.9 million and adjusted operating income¹ of $77.3 million, increasing $11.5 million dollars or 18% from the prior year. V2X delivered adjusted EBITDA¹ of $82.4 million, with a margin of 7.6%. Net income for the quarter was $22.4 million dollars. Adjusted net income¹ was $42.3 million dollars, increasing $16.1 million dollars or 61% year-over-year. Second quarter GAAP diluted EPS was $0.70. Adjusted diluted EPS¹ for the quarter was $1.33, increasing 59% year-over-year."

"Second quarter net cash provided by operating activities was $28.5 million. Adjusted net cash provided by operating activities¹ increased $112.1 million year-over-year to $58.3 million."

Mr. Mural continued, "During the quarter we further progressed our capital allocation strategy by establishing a $100 million share repurchase authorization. We believe the strong cash flow characteristics of our business support V2X's ability to create additional long-term value through the efficient deployment of capital. The core tenets of our deployment strategy include opportunistically repurchasing shares, strategic acquisitions, internal investments for growth, and reducing leverage via debt reduction."

Increasing 2025 Adjusted EPS¹ Guidance

Mr. Mural concluded, "Given the year-to-date performance and trends in our business, the Company is increasing its adjusted EPS guidance for 2025 and reaffirming its revenue, adjusted EBITDA, and adjusted net cash¹ ranges."

Guidance is as follows:

$ millions, except for per share amounts	Prior 2025 Guidance		Updated 2025 Guidance
Revenue	$4,375	$4,500	$4,375	$4,500
Adjusted EBITDA1	$305	$320	$305	$320
Adjusted Diluted Earnings Per Share1	$4.45	$4.85	$4.65	$4.95
Adjusted Net Cash Provided by Operating Activities1	$150	$170	$150	$170

The Company is not providing a quantitative reconciliation with respect to the foregoing forward-looking non-GAAP measures in reliance on the "unreasonable efforts" exception set forth in the SEC rules because certain financial information, the probable significance of which cannot be determined, is not available and cannot be reasonably estimated. For example, unusual, one-time, non-ordinary, or non-recurring costs, which relate to mergers and acquisitions ("M&A"), integration and related activities cannot be reasonably estimated. Forward-looking statements are based upon current expectations and are subject to factors that could cause actual results to differ materially from those suggested here, including those factors set forth in the Safe Harbor Statement below. 

Second Quarter Conference Call

Management will conduct a conference call with analysts and investors at 4:30 p.m. ET on Monday, August 4, 2025. U.S.-based participants may dial in to the conference call at 877-300-8521, while international participants may dial 412-317-6026. A live webcast of the conference call as well as an accompanying slide presentation will be available here: https://app.webinar.net/MPvl2xBdpg3

A replay of the conference call will be posted on the V2X website shortly after completion of the call and will be available for one year. A telephonic replay will also be available through August 18, 2025, at 844-512-2921 (domestic) or 412-317-6671 (international) with passcode 10200918. 

Presentation slides that will be used in conjunction with the conference call will also be made available online in advance on the "investors" section of the Company's website at https://gov2x.com. V2X recognizes its website as a key channel of distribution to reach public investors and as a means of disclosing material non-public information to comply with its obligations under the U.S. Securities and Exchange Commission ("SEC") Regulation FD.

1   See "Key Performance Indicators and Non-GAAP Financial Measures" for descriptions and reconciliations.

About V2X

V2X builds innovative solutions that integrate physical and digital environments by aligning people, actions, and technology. V2X is embedded in all elements of a critical mission's lifecycle to enhance readiness, optimize resource management, and boost security. The company provides innovation spanning national security, defense, civilian, and international markets. With a global team of approximately 16,000 professionals, V2X enables mission success by injecting AI and machine learning capabilities to meet today's toughest challenges across all operational domains.

Investor Contact	Media Contact
Mike Smith, CFA	Angelica Spanos Deoudes
IR@goV2X.com	Communications@goV2X.com
719-637-5773	571-338-5195

Safe Harbor Statement

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995 (the "Act"): Certain material presented herein includes forward-looking statements intended to qualify for the safe harbor from liability established by the Act.

Forward-looking statements generally can be identified by the use of forward-looking terminology such as "may," "will," "expect," "intend," "estimate," "anticipate," "believe," "could," "potential," "continue" or similar terminology. These statements are based on the beliefs and assumptions of the management of the Company based on information currently available to management. Forward-looking statements in this press release, include, but are not limited to our future performance and capabilities; all of the statements and items listed under "Increasing 2025 Adjusted EPS Guidance" above and other assumptions contained therein for purposes of such guidance; our belief that prior performance provides substantial visibility for future performance; market trends; our expectations that the foreign military sales and international markets represent a large and growing addressable opportunity; and our belief that our strategy, visibility, and targeted growth opportunities provide substantial opportunities for value creation.

These forward-looking statements are not guarantees of future performance, conditions, or results, and involve a number of known and unknown risks, uncertainties, assumptions, and other important factors, many of which are outside our management's control, which could cause actual results to differ materially from the results discussed in the forward-looking statements.  In addition, forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from the Company's historical experience and our present expectations or projections. For a discussion of some of the risks and uncertainties that could cause actual results to differ from such forward-looking statements, see the risks and other factors detailed from time to time in our Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, and other filings with the SEC.

We undertake no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law.

V2X, INC. CONDENSED CONSOLIDATED STATEMENTS OF INCOME (LOSS) (UNAUDITED)
		Three Months Ended				Six Months Ended
		June 27,		June 28,		June 27,		June 28,
(In thousands, except per share data)		2025		2024		2025		2024
Revenue		$     1,078,330		$     1,072,183		$     2,094,253		$     2,082,747
Cost of revenue		982,597		998,348		1,920,417		1,938,638
Selling, general, and administrative expenses		42,793		46,409		86,598		86,352
Operating income		52,940		27,426		87,238		57,757
Loss on extinguishment of debt		(313)		(1,998)		(2,527)		(1,998)
Interest expense, net		(20,598)		(28,807)		(40,317)		(56,381)
Other expense, net		(2,579)		(4,735)		(4,874)		(6,368)
Income (loss) from operations before income taxes		29,450		(8,114)		39,520		(6,990)
Income tax expense (benefit)		7,059		(1,570)		9,022		(1,590)
Net income (loss)		$         22,391		$          (6,544)		$         30,498		$          (5,400)
Earnings (loss) per share
Basic		$             0.71		$           (0.21)		$             0.96		$           (0.17)
Diluted		$             0.70		$           (0.21)		$             0.96		$           (0.17)
Weighted average common shares outstanding - basic		31,693		31,470		31,643		31,411
Weighted average common shares outstanding - diluted		31,883		31,470		31,886		31,411

 

V2X, INC. CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED)
		June 27,		December 31,
(In thousands, except per share data)		2025		2024
Assets
Current assets
Cash, cash equivalents and restricted cash		$       190,457		$        268,321
Receivables		738,899		710,068
Prepaid expenses and other current assets		137,748		121,831
Total current assets		1,067,104		1,100,220
Property, plant, and equipment, net		61,455		62,001
Goodwill		1,656,926		1,656,926
Intangible assets, net		277,945		323,068
Right-of-use assets		33,791		37,774
Other non-current assets		48,351		48,854
Total non-current assets		2,078,468		2,128,623
Total Assets		$     3,145,572		$     3,228,843
Liabilities and Shareholders' Equity
Current liabilities
Accounts payable		$       434,716		$        547,568
Compensation and other employee benefits		150,072		166,918
Short-term debt		14,935		20,003
Other accrued liabilities		286,820		261,735
Total current liabilities		886,543		996,224
Long-term debt, net		1,091,721		1,087,484
Deferred tax liabilities		17,999		20,983
Operating lease liabilities		29,951		33,811
Other non-current liabilities		53,615		64,189
Total non-current liabilities		1,193,286		1,206,467
Total liabilities		2,079,829		2,202,691
Commitments and contingencies (Note 7)
Shareholders' Equity
Preferred stock; $0.01 par value; 10,000,000 shares authorized; No shares issued and   outstanding		—		—
Common stock; $0.01 par value; 100,000,000 shares authorized; 31,709,357 and   31,560,490 shares issued and outstanding as of June 27, 2025 and December 31, 2024,   respectively		317		316
Additional paid in capital		773,002		769,719
Retained earnings		296,033		265,535
Accumulated other comprehensive loss		(3,609)		(9,418)
Total shareholders' equity		1,065,743		1,026,152
Total Liabilities and Shareholders' Equity		$     3,145,572		$     3,228,843

 

V2X, INC. CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)
		Six Months Ended
		June 27,		June 28,
(In thousands)		2025		2024
Operating activities
Net income (loss)		$         30,498		$          (5,400)
Adjustments to reconcile net income (loss) to net cash used in operating activities:
Depreciation expense		8,175		11,870
Amortization of intangible assets		45,125		45,525
Amortization of cloud computing arrangements		2,453		886
Impairment of non-operating long-lived asset		—		2,192
Loss on disposal of property, plant, and equipment		325		269
Stock-based compensation		6,181		11,794
Deferred taxes		(4,807)		(1,207)
Amortization of debt issuance costs		3,032		4,163
Loss on extinguishment of debt		2,527		1,998
Changes in assets and liabilities:
Receivables		(24,216)		(51,693)
Other assets		(13,894)		(56,734)
Accounts payable		(116,931)		(9,505)
Compensation and other employee benefits		(17,322)		8,480
Other liabilities		11,923		5,811
Net cash used in operating activities		(66,931)		(31,551)
Investing activities
Purchases of capital assets		(5,180)		(8,511)
Proceeds from the disposition of assets		90		11
Acquisitions of businesses		—		(16,939)
Net cash used in investing activities		(5,090)		(25,439)
Financing activities
Repayments of long-term debt		(3,812)		(7,669)
Proceeds from revolver		319,000		648,750
Repayments of revolver		(319,000)		(602,750)
Proceeds from stock awards and stock options		77		149
Payment of debt issuance costs		(3,909)		(1,188)
Payments of employee withholding taxes on stock-based compensation		(2,974)		(5,767)
Net cash (used in) provided by financing activities		(10,618)		31,525
Exchange rate effect on cash		4,775		(2,416)
Net change in cash, cash equivalents and restricted cash		(77,864)		(27,881)
Cash, cash equivalents and restricted cash - beginning of period		268,321		72,651
Cash, cash equivalents and restricted cash - end of period		$       190,457		$         44,770
Supplemental disclosure of cash flow information:
Interest paid		$         32,956		$         55,374
Income taxes paid		$           5,164		$           7,946
Purchase of capital assets on account		$           2,125		$              520

Key Performance Indicators and Non-GAAP Measures

The primary financial performance measures we use to manage our business and monitor results of operations are revenue trends and operating income trends. Management believes that these financial performance measures are the primary drivers for our earnings and net cash from operating activities. Management evaluates its contracts and business performance by focusing on revenue, and operating income. Operating income represents revenue less both cost of revenue and selling, general and administrative (SG&A) expenses. Cost of revenue consists of labor, subcontracting costs, materials, and an allocation of indirect costs. SG&A expenses consist of indirect labor costs (including wages and salaries for executives and administrative personnel), bid and proposal expenses and other general and administrative expenses not allocated to cost of revenue. Backlog is the estimated amount of future revenues to be recognized under negotiated contracts.

We manage the nature and amount of costs at the program level, which forms the basis for estimating our total costs and profitability. This is consistent with our approach for managing our business, which begins with management's assessing the bidding opportunity for each contract and then managing contract profitability throughout the performance period.

In addition to the key performance measures discussed above, we consider adjusted net income, adjusted diluted earnings per share, adjusted operating income, adjusted EBITDA, adjusted EBITDA margin, net leverage ratio and adjusted operating cash flow to be useful to management and investors in evaluating our operating performance, and to provide a tool for evaluating our ongoing operations. This information can assist investors in assessing our financial performance and measures our ability to generate capital for deployment among competing strategic alternatives and initiatives. We provide this information to our investors in our earnings releases, presentations, and other disclosures.

Adjusted net income, adjusted diluted earnings per share, adjusted operating income, adjusted EBITDA, adjusted EBITDA margin, net leverage ratio, and adjusted net cash provided by (used in) operating activities, however, are not measures of financial performance under GAAP and should not be considered a substitute for financial measures determined in accordance with GAAP.  Definitions and reconciliations of these items are provided below.

• Adjusted operating income is defined as operating income, adjusted to exclude items that may include, but are not limited to, significant charges or credits, and unusual and infrequent non-operating items that impact current results but are not related to our ongoing operations, such as M&A, integration, and related costs.
• Adjusted EBITDA is defined as operating income, adjusted to exclude depreciation and amortization of intangible assets, and items that may include, but are not limited to, significant charges or credits, and unusual and infrequent non-operating items that impact current results but are not related to our ongoing operations, such as M&A, integration, and related costs.
• Adjusted EBITDA margin is defined as adjusted EBITDA divided by revenue.
• Adjusted net income is defined as net income, adjusted to exclude items that may include, but are not limited to, significant charges or credits, and unusual and infrequent non-operating items that impact current results but are not related to our ongoing operations, such as M&A, integration and related costs, amortization of acquired intangible assets, amortization of debt issuance costs, and loss on extinguishment of debt.
• Adjusted diluted earnings per share is defined as adjusted net income divided by the weighted average diluted common shares outstanding.
• Cash interest expense, net is defined as interest expense, net adjusted to exclude amortization of debt issuance costs.
• Adjusted net cash provided by (used in) operating activities or adjusted operating cash flow is defined as net cash provided by (or used in) operating activities adjusted to exclude infrequent non-operating items, such as M&A payments and related costs.

Non-GAAP Tables

($K, except per share data)	Three Months Ended				Six Months Ended
	June 27, 2025		June 28, 2024		June 27, 2025		June 28, 2024
Revenue	$    1,078,330		$     1,072,183		$    2,094,253		$   2,082,747
Net income (loss)	$          22,391		$        (6,544)		$        30,498		$        (5,400)
Plus:
Income tax expense (benefit)	7,059		(1,570)		9,022		(1,590)
Other expense, net	2,579		4,735		4,874		6,368
Interest expense, net	20,598		28,807		40,317		56,381
Loss on extinguishment of debt	313		1,998		2,527		1,998
Operating income	$         52,940		$         27,426		$         87,238		$         57,757
Plus:
Amortization of intangible assets	22,562		22,986		45,125		45,525
M&A, integration and related costs	1,780		15,344		6,405		25,325
Adjusted operating income	$         77,283		$         65,756		$       138,768		$       128,607
Plus:
Depreciation and CCA amortization	5,152		6,513		10,628		12,756
Adjusted EBITDA	$         82,435		$         72,269		$       149,396		$         141,363
Adjusted EBITDA margin	7.6 %		6.7 %		7.1 %		6.8 %
Minus:
Cash interest expense, net	19,055		26,804		37,285		52,218
Income tax expense, as adjusted	13,315		10,145		22,549		17,300
Depreciation and CCA amortization	5,152		6,513		10,628		12,756
Other expense, net, as adjusted	2,579		2,543		5,124		4,176
Adjusted net income	$         42,334		$         26,264		$          73,810		$          54,913
($K, except per share data)	Three Months Ended				Six Months Ended
	June 27, 2025		June 28, 2024		June 27, 2025		June 28, 2024
Diluted earnings (loss) per share	$             0.70		$            (0.21)		$             0.96		$            (0.17)
Plus:
M&A, integration and related costs	0.04		0.36		0.15		0.60
Amortization of intangible assets	0.54		0.53		1.08		1.09
Amortization of debt issuance costs and Loss on extinguishment of debt	0.04		0.10		0.13		0.15
FMV land impairment	$                 —		0.05		$                 —		0.05
Gain on acquisition, net	0.00		$                 —		$           (0.01)		$                 —
Adjusted diluted earnings per share	$               1.33		$             0.83		$               2.31		$               1.72
Average shares outstanding:
Basic, as reported	31,693		31,470		31,643		31,411
Diluted, as reported	31,883		31,470		31,886		31,411
Adjusted diluted	31,883		31,540		31,886		31,894

Non-GAAP Tables

($K)	Three Months Ended				Six Months Ended
	June 27, 2025		June 28, 2024		June 27, 2025		June 28, 2024
Net cash provided (used) by operating activities	28,532		25,675		(66,931)		(31,551)
Plus:
M&A, integration, and related payments	7,754		6,197		10,762		12,035
MARPA facility activity	21,968		(85,711)		(3,649)		(117,819)
Adjusted operating cash flow	58,254		(53,839)		(59,819)		(137,335)

SUPPLEMENTAL INFORMATION

Revenue by customer, contract type, contract relationship, and geographic region for the periods presented below was as follows: 

Revenue by Customer

		Three Months Ended						Six Months Ended
		June 27,		June 28,		%		June 27,		June 28,		%
(In thousands)		2025		2024		Change		2025		2024		Change
Army		$      457,443		$      456,690		0.2 %		$      899,579		$      890,120		1.1 %
Navy		354,282		349,824		1.3 %		700,394		671,208		4.3 %
Air Force		107,822		127,467		(15.4) %		206,948		246,036		(15.9) %
Other		158,783		138,202		14.9 %		287,332		275,383		4.3 %
Total revenue		$   1,078,330		$   1,072,183				$   2,094,253		$   2,082,747

Revenue by Contract Type

		Three Months Ended						Six Months Ended
		June 27,		June 28,		%		June 27,		June 28,		%
(In thousands)		2025		2024		Change		2025		2024		Change
Cost-plus and cost-reimbursable		$      647,582		$      615,837		5.2 %		$   1,270,653		$   1,200,659		5.8 %
Firm-fixed-price		405,091		429,182		(5.6) %		769,177		826,433		(6.9) %
Time-and-materials		25,657		27,164		(5.5) %		54,423		55,655		(2.2) %
Total revenue		$   1,078,330		$   1,072,183				$   2,094,253		$   2,082,747

Revenue by Contract Relationship

		Three Months Ended						Six Months Ended
		June 27,		June 28,		%		June 27,		June 28,		%
(In thousands)		2025		2024		Change		2025		2024		Change
Prime contractor		$   1,008,340		$   1,006,121		0.2 %		$   1,972,086		$   1,951,276		1.1 %
Subcontractor		69,990		66,062		5.9 %		122,167		131,471		(7.1) %
Total revenue		$   1,078,330		$   1,072,183				$   2,094,253		$   2,082,747

Revenue by Geographic Region

		Three Months Ended						Six Months Ended
		June 27,		June 28,		%		June 27,		June 28,		%
(In thousands)		2025		2024		Change		2025		2024		Change
United States		$      632,357		$      578,881		9.2 %		$   1,209,815		$   1,123,608		7.7 %
Middle East		320,317		361,064		(11.3) %		638,662		704,361		(9.3) %
Asia		76,793		84,663		(9.3) %		152,771		153,464		(0.5) %
Europe		48,863		47,575		2.7 %		93,005		101,314		(8.2) %
Total revenue		$   1,078,330		$   1,072,183				$   2,094,253		$   2,082,747

 

 

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SOURCE V2X, Inc.

FAQ

What were V2X's (VVX) key financial results for Q2 2025?

V2X reported Q2 2025 revenue of $1.08 billion, net income of $22.4 million, and adjusted EBITDA of $82.4 million with a 7.6% margin. Adjusted diluted EPS was $1.33, up 59% year-over-year.

What is V2X's updated earnings guidance for 2025?

V2X increased its 2025 adjusted EPS guidance to $4.65-$4.95 from the previous $4.45-$4.85, while maintaining revenue guidance of $4.375-$4.5 billion and adjusted EBITDA guidance of $305-$320 million.

What major contract did V2X (VVX) win in Q2 2025?

V2X won a $4.3 billion T-6 aircraft program contract to provide full spectrum supply chain management solutions for over 700 aircraft used in multi-service aviation training programs for the U.S. Air Force, Navy, and Army.

How much is V2X's new share repurchase authorization?

V2X established a $100 million share repurchase authorization as part of its capital allocation strategy to create additional long-term value through efficient capital deployment.

How did V2X's cash flow performance improve in Q2 2025?

V2X's adjusted net cash provided by operating activities increased by $112.1 million year-over-year to $58.3 million, and the company improved its net debt position by $200 million compared to the previous year.