VSE Corporation Announces First Quarter 2025 Results

About this update from Vse Corporation

[{"type":"text","content":"\nRecord Revenue and Profitability\n\nReaffirms 2025 Guidance\n\n MIRAMAR, Fla.--(BUSINESS WIRE)--\nVSE Corporation (NASDAQ: VSEC, \"VSE\", or the \"Company\"), a leading provider of aviation aftermarket distribution and repair services, announced today results for the first quarter 2025.\n\nFIRST QUARTER 2025 RESULTS(1)\n\n(As compared to the First Quarter 2024)\n\n\nTotal Revenues of $256.0 million increased 57.7%\n\n\nGAAP Net Income of $14.0 million increased 152.0%\n\n\nGAAP EPS (Diluted) of $0.67 increased 91.4%\n\n\nAdjusted EBITDA(2) of $40.4 million increased 60.0%\n\n\nAdjusted Net Income(2) of $16.2 million increased 125.1%\n\n\nAdjusted EPS (Diluted)(2) of $0.78 increased 73.3%\n\n\n\n\n1 From continuing operations\n\n\n\n\n\n2 Non-GAAP measures, which reflect a change in the definition of Adjusted EBITDA. See additional information at the end of this release regarding non-GAAP financial measures\n\n\n\n\nMANAGEMENT COMMENTARY\n\n\"We proudly delivered record revenue and profitability in the first quarter and completed a critical chapter in our multi-year strategic transformation into a pure-play aviation aftermarket parts and services provider,\" said John Cuomo, President and CEO of VSE Corporation. \"With the divestiture of our Fleet segment, VSE is now a more focused, higher-growth, and higher-margin aviation business, positioned to create exceptional value for our customers, suppliers, employees, and shareholders.\"\n\nMr. Cuomo continued, \"Our first quarter performance reflects strong, balanced contributions across our distribution and maintenance, repair, and overhaul (“MRO”) businesses, solid execution within our OEM licensed manufacturing program, and the early success of our recent Turbine Controls (“TCI”) and Kellstrom Aerospace (“Kellstrom”) acquisitions, both of which are integrating well and delivering on synergy expectations. In addition, we are pleased to welcome the Turbine Weld Industries (\"Turbine Weld\") team to VSE. This recent acquisition expands VSE’s technical and proprietary MRO capabilities across key business and general aviation engine platforms.”\n\n\"Looking ahead to the balance of 2025, we are accelerating the integration of our recent acquisitions, expanding our organic growth pipeline and adding new product lines and repair capabilities,\" concluded Mr. Cuomo. \"With strong end-mark...

More updates from Vse Corporation