VSE Corporation Announces Fourth Quarter and Full Year 2024 Results

About this update from Vse Corporation

[{"type":"text","content":"\nRecord Revenue and Profitability for Aviation Segment\n\n\nAnnounces Full Year 2025 Guidance for Aviation Segment\n\n\n MIRAMAR, Fla.--(BUSINESS WIRE)--\nVSE Corporation (NASDAQ: VSEC; “VSE”, or the “Company”), a leading provider of aftermarket distribution and repair services, announced results for the fourth quarter and full year 2024.\n\n\nFOURTH QUARTER 2024 RESULTS(1)\n(As compared to the Fourth Quarter 2023)\n\n\n\nTotal Revenues of $299.0 million increased 27%\n\n\n\n\nGAAP Net Income of $15.5 million increased 21%\n\n\n\n\nGAAP EPS (Diluted) of $0.77 decreased 6%\n\n\n\n\nAdjusted EPS(2) (Diluted) of $0.90 increased 6%\n\n\n\n\nAdjusted EBITDA(2) of $39.5 million increased 26%\n\n\n\nFULL-YEAR 2024 RESULTS(1)\n(As compared to the Full-Year 2023)\n\n\n\nTotal Revenues of $1,080.1 million increased 26%\n\n\n\n\nGAAP Net Income of $36.5 million decreased 15%\n\n\n\n\nGAAP EPS (Diluted) of $2.03 decreased 33%\n\n\n\n\nAdjusted EPS(2) (Diluted) of $3.13 decreased 5%\n\n\n\n\nAdjusted EBITDA(2) of $136.3 million increased 20%\n\n\n\n\n\n(1) From continuing operations\n\n\n\n\n\n\n\n\n(2) Non-GAAP measure, see additional information at the end of this release regarding non-GAAP financial measures\n\n\n\n\n\n\n\nMANAGEMENT COMMENTARY\n\n\n\"2024 was a transformative year for VSE, marked by record revenue and profitability in our Aviation segment, the acquisition of two commercial aviation aftermarket businesses, and the divestiture of our Federal and Defense Services segment,” said John Cuomo, President and CEO of VSE Corporation. “These strategic actions reinforce our commitment to becoming a pure-play aviation aftermarket company, streamlining our operations to drive sustained growth.”\n\n\nMr. Cuomo continued, \"The success of our Aviation segment was fueled by strong end-market demand, expanding partnerships with OEM suppliers, and our dedication to delivering exceptional value to commercial and business and general aviation customers. With a strong foundation and differentiated value proposition, we are well-positioned for continued above-market organic growth in 2025 while integrating our newly acquired businesses to unlock synergies and new opportunities.\"\n\n\n\"As we enter 2025, we have made tremendous strides in simplifying our business and refining our go-to-market strategy. With the announced sale of our Fleet seg...

More updates from Vse Corporation