VSE Q3 revenue up 38% to $231.4M; Aviation record; raises Aviation revenue guidance

VSE CORP

2023-Q3 EPS reported $2.02 revenue$625,163,000

Total revenues $231.4M (+38.2% YoY); GAAP net income $12.1M (+57.3%); GAAP EPS $0.80 (+33.3%); adjusted EPS $0.92 (+48.4%).
Aviation segment revenue record $152.4M (+48%); operating income $21.0M vs $10.0M prior year.
Fleet revenue $79M (+22%); commercial revenue +47% YoY, now 47% of segment.
Completed Desser Aerospace acquisition July; entered Honeywell fuel control license in Oct; terminated Fed & Defense sale.
Raised Aviation FY2023 revenue growth guidance to 30-35%; EBITDA margin to higher end of 14-16%; reaffirmed Fleet guidance.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

VSE CORP reported financial results for the third quarter ended September 30, 2023.

Period: the third quarter ended September 30, 2023
Result: reported results

Exact text from the filing

On November 1, 2023, the Company issued a press release reporting its financial results for the third quarter ended September 30, 2023.

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Source: SEC EDGAR

accession 0000102752-23-000089

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