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Vse Corp

VSEC · Industrials

Last earnings Aug 5, 2026

Key results

Total revenuequarter

$272.1 million

Total Revenues of $272.1 million increased 41.1% GAAP Net Income (2) of $13.6 million GAAP EPS (Diluted) (2) of $0.66 Adjusted EBITDA (3) of $43.5 million increased 51.9% Adjusted Net Income (3) of $20.1 million increased 149.1% Adjusted EPS (Diluted) (3) of $0.97 increased 106.4% 1 From continuing operations 2 Percent

SEC original ↗Vse Corp — Earnings release (8-K exhibit)EX-99Jul 30, 2025

GAAP net incomequarter

$13.6 million

Total Revenues of $272.1 million increased 41.1% GAAP Net Income (2) of $13.6 million GAAP EPS (Diluted) (2) of $0.66 Adjusted EBITDA (3) of $43.5 million increased 51.9% Adjusted Net Income (3) of $20.1 million increased 149.1% Adjusted EPS (Diluted) (3) of $0.97 increased 106.4% 1 From continuing operations 2 Percent

SEC original ↗Vse Corp — Earnings release (8-K exhibit)EX-99Jul 30, 2025

EPSquarter

$0.66

Total Revenues of $272.1 million increased 41.1% GAAP Net Income (2) of $13.6 million GAAP EPS (Diluted) (2) of $0.66 Adjusted EBITDA (3) of $43.5 million increased 51.9% Adjusted Net Income (3) of $20.1 million increased 149.1% Adjusted EPS (Diluted) (3) of $0.97 increased 106.4% 1 From continuing operations 2 Percent

SEC original ↗Vse Corp — Earnings release (8-K exhibit)EX-99Jul 30, 2025

Revenuequarter

41.1%

SECOND QUARTER SEGMENT RESULTS Aviation segment revenue increased 41.1% year-over-year to a record $272.1 million in the second quarter of 2025.

SEC original ↗Vse Corp — Earnings release (8-K exhibit)EX-99Jul 30, 2025

MRO revenuequarter

50.4%

Aviation distribution and MRO revenue increased 50.4% and 27.3%, respectively, in the second quarter of 2025, versus the prior-year period.

SEC original ↗Vse Corp — Earnings release (8-K exhibit)EX-99Jul 30, 2025

Operating incomequarter

$35.1 million

The Aviation segment reported operating income of $35.1 million in the second quarter, compared to $24.5 million in the same period of 2024.

SEC original ↗Vse Corp — Earnings release (8-K exhibit)EX-99Jul 30, 2025

Free cash flowquarter

$12 million

FINANCIAL RESOURCES AND LIQUIDITY The Company generated $12 million of operating cash flow and $6 million of free cash flow in the second quarter of 2025.

SEC original ↗Vse Corp — Earnings release (8-K exhibit)EX-99Jul 30, 2025

AI analysis

Q2 2025 · reported Jul 30, 2025

Based on: Earnings release + parent 8-K + 10-Q — transcript not held

Total revenue · Q2 2025
$272.1M
EX-99 · Jul 30, 2025
EPS · Q2 2025
$0.66
EX-99 · Jul 30, 2025
Free cash flow · Q2 2025
$12M
EX-99 · Jul 30, 2025
GAAP net income · Q2 2025
$13.6M
EX-99 · Jul 30, 2025

Headline figures

MetricQ2 2025Prior qtrYear ago
Total revenue$272.1 million——
GAAP net income$13.6 million——
EPS$0.66——
Revenue41.1%——
MRO revenue50.4%——
Operating income$35.1 million—$24.5 million
Free cash flow$12 million——

EX-99 · Jul 30, 2025

Guidance · company-stated

Direction: Raised

Revenue

“GUIDANCE VSE is reaffirming full-year 2025 revenue growth and increasing Aviation Adjusted EBITDA margin guidance to the high-end of the previously provided range Full-year 2025 revenue growth is expected to be 35% to 40%, as compared to the prior year, to reflect both current business performance and current year contributions from the TCI and Kellstrom acquisitions.”

Margin

“Aviation segment full-year 2025 Adjusted EBITDA margin is now expected to be between 16.5% to 17%, an increase from the previous guidance range of 16% to 17%.”

Classified from the release's primary full-year outlook statement.

Next earningsNo verified date on fileNo date is estimated or imported

Cash flow & capex

Free cash flow$12M

Capital allocation

As of June 30, 2025, the Company had $333 million in cash and unused commitment availability under its $400 million revolving credit facility maturing in 2030.

As of June 30, 2025, VSE had a total net debt outstanding of $362 million.

Company-stated claims

Aug 5, 2026

Historical · increased 149.4% · revenue

“Repair and distribution revenue increased 149.4% and 17.2%, respectively, versus the prior-year period.”

EX-99 · Aug 5, 2026
General educational research only — not investment advice.Every figure is as stated in the held documents; values marked “computed from stated figures” are arithmetic on those stated figures. Guidance shown is the company’s own stated guidance. No price targets, no recommendations, no consensus estimates.

Event summary

VSE s second quarter results reflect continued operational discipline and strategic execution, with double-digit revenue growth, record margins, and positive free cash flow, said Adam Cohn, Chief Financial Officer of VSE Corporation

Based on: Earnings release + parent 8-K + 10-Q — transcript not held

Guidance & outlook

Direction: Raised

Revenue: “GUIDANCE VSE is reaffirming full-year 2025 revenue growth and increasing Aviation Adjusted EBITDA margin guidance to the high-end of the previously provided range Full-year 2025 revenue growth is expected to be 35% to 40%, as compared to the prior year, to reflect both current business performance and current year contributions from the TCI and Kellstrom acquisitions.”

Margin: “Aviation segment full-year 2025 Adjusted EBITDA margin is now expected to be between 16.5% to 17%, an increase from the previous guidance range of 16% to 17%.”

Revenue — Raised (“Increases”)
“htm VSE CORPORATION EX-99.1 - PRESS RELEASE DATED JULY 30, 2025 Document VSE Corporation Announces Second Quarter 2025 Results Record Revenue and Record Profitability Reaffirms 2025 Revenue Guidance and Increases Aviation Adjusted EBITDA Margin Guidance MIRAMAR, FLORIDA, July 30, 2025 - VSE Corporation (NASDAQ VSEC, VSE , or the Company ), a leading provider of aftermarket distribution and repair services, announced today results for the second quarter 2025.”

Revenue — Raised (“increasing”)
“GUIDANCE VSE is reaffirming full-year 2025 revenue growth and increasing Aviation Adjusted EBITDA margin guidance to the high-end of the previously provided range Full-year 2025 revenue growth is expected to be 35% to 40%, as compared to the prior year, to reflect both current business performance and current year contributions from the TCI and Kellstrom acquisitions.”

Margin — Raised (“increase”)
“Aviation segment full-year 2025 Adjusted EBITDA margin is now expected to be between 16.5% to 17%, an increase from the previous guidance range of 16% to 17%.”

Classified from the release's primary full-year outlook statement.

Capital allocation

As of June 30, 2025, the Company had $333 million in cash and unused commitment availability under its $400 million revolving credit facility maturing in 2030.

SEC original ↗Vse Corp — Earnings release (8-K exhibit)EX-99Jul 30, 2025

As of June 30, 2025, VSE had a total net debt outstanding of $362 million.

SEC original ↗Vse Corp — Earnings release (8-K exhibit)EX-99Jul 30, 2025

The Company considers Adjusted Net Income, Adjusted EPS (Diluted), EBITDA, Adjusted EBITDA, Acquisition Adjusted EBITDA, TTM Adjusted EBITDA, TTM Acquisition Adjusted EBITDA, Adjusted unallocated corporate costs, net debt, adjusted net leverage ratio and free cash flow as non-GAAP financial measures and important indicators of performance and useful metrics for management and investors to evaluate the business' ongoing operating performance on a consistent basis across reporting periods.

SEC original ↗Vse Corp — Earnings release (8-K exhibit)EX-99Jul 30, 2025

Net debt is defined as principal amount of debt less debt issuance costs and less cash and cash equivalents.

SEC original ↗Vse Corp — Earnings release (8-K exhibit)EX-99Jul 30, 2025

Free cash flow represents operating cash flow less capital expenditures.

SEC original ↗Vse Corp — Earnings release (8-K exhibit)EX-99Jul 30, 2025

Adjusted Net leverage ratio is calculated as net debt divided by trailing twelve month Acquisition Adjusted EBITDA.

SEC original ↗Vse Corp — Earnings release (8-K exhibit)EX-99Jul 30, 2025

Strategy & priorities

See additional information at the end of this release regarding non-GAAP financial measures MANAGEMENT COMMENTARY VSE delivered record revenue and profitability in the second quarter, underscoring the strength of our aviation-focused strategy and the continued momentum of our business transformation, said John Cuomo, President and CEO of VSE Corporation.

SEC original ↗Vse Corp — Earnings release (8-K exhibit)EX-99Jul 30, 2025

These strategic actions, combined with the ongoing integration of recent acquisitions, have sharpened our focus, expanded our capabilities, and strengthened our position in the high-growth, high-margin aviation aftermarket.

SEC original ↗Vse Corp — Earnings release (8-K exhibit)EX-99Jul 30, 2025

Cuomo continued, Our team continues to perform at a high level, delivering strong year-over-year sales growth and margin expansion, supported by robust end-market demand.

SEC original ↗Vse Corp — Earnings release (8-K exhibit)EX-99Jul 30, 2025

VSE s second quarter results reflect continued operational discipline and strategic execution, with double-digit revenue growth, record margins, and positive free cash flow, said Adam Cohn, Chief Financial Officer of VSE Corporation.

SEC original ↗Vse Corp — Earnings release (8-K exhibit)EX-99Jul 30, 2025

Looking ahead, we are focused on driving improved free cash flow generation, optimizing our cost structure to support the streamlined aviation platform, and completing post-divestiture transition efforts.

SEC original ↗Vse Corp — Earnings release (8-K exhibit)EX-99Jul 30, 2025

Risks & headwinds

Guidance does not assume further tariff escalation or a global recession.

SEC original ↗Vse Corp — Earnings release (8-K exhibit)EX-99Jul 30, 2025

This non-GAAP financial measure is a preliminary estimate and is subject to risks and uncertainties, including, among others, changes in connection with quarter-end and year-end adjustments.

SEC original ↗Vse Corp — Earnings release (8-K exhibit)EX-99Jul 30, 2025

VSE encourages investors and others to review the detailed reporting and disclosures contained in VSE s public filings for additional discussion about the status of customer programs and contract awards, risks, revenue sources and funding, dependence on material customers, and management s discussion of short- and long-term business challenges and opportunities.

SEC original ↗Vse Corp — Earnings release (8-K exhibit)EX-99Jul 30, 2025

These statements, by their nature, involve substantial risks and uncertainties, certain of which are beyond the Company's control, and actual results may differ materially depending on a variety of important factors, including, but not limited to, factors identified in the Company's reports filed or expected to be filed with the SEC including the Annual Report on Form 10-K for the year ended December 31, 2024 and subsequent filings made with the SEC.

SEC original ↗Vse Corp — Earnings release (8-K exhibit)EX-99Jul 30, 2025

Legal Proceedings 29 ITEM 1A.

SEC original ↗Vse Corp — 10-Q Quarterly report10-QAug 6, 2026

Documents

Earnings deck slides

0 decks with slide view

Vse Corp — Presentation / slide deck (8-K exhibit) — Slide view unavailable — this deck was filed as a web document, whose text has no page boundaries.

Competitors

Competitors & peers

Same GICS sector — classification peers, not declared competitors

RELX (RELX) IndustrialsThomson Reuters (TRI) IndustrialsFedEx (FDX) IndustrialsVertiv (VRT) IndustrialsCanadian National Railway (CNI) IndustrialsAerCap Holdings (AER) IndustrialsCanadian Pacific Kansas City (CP) IndustrialsGeneral Dynamics (GD) Industrials

Filings

37 documents

Earnings releases

13 documents

Presentations

1 document

Transcripts

0 documents

No transcripts for Vse Corp are held in this edition of the library.

See also the earnings calendar for every tracked company’s next earnings date.