VSE Q3 revenue +18.3% to $273.6M but GAAP EPS -21.3%; Fleet Group President departs, strategic review ongoing

VSE CORP

2024-Q3 EPS reported $0.13 revenue$781,111,000

Record revenue $273.6M (+18.3% YoY); GAAP EPS $0.63 (-21.3%) and adjusted EPS $0.71 (-22.8%).
Aviation segment achieved record revenue and profitability; full-year 2024 aviation revenue guidance raised.
Chad M. Wheeler, Fleet Segment Group President, resigned effective Nov 5, 2024; entered into consulting agreement.
Consulting agreement: $300/hr up to 35 hrs/month plus $500K bonus contingent on strategic review completion.
Strategic alternative review of Fleet Segment ongoing; Wheeler's departure not related to operations or policies.

item 2.02 item 5.02 item 9.01

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Departed

Chad M. Wheeler

Group President for Fleet Segment

VSEC · VSE CORP

Effective: 2024-11-05
Filed: November 6, 2024, 6:59 PM ET

Chad M. Wheeler, Group President for the Company's Fleet Segment, notified the Company on February 29, 2024, of his decision to resign from his position as VSE’s Group President for the Fleet Segment, with an effective date to be set later in 2024.

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Executive change SEC 8-K Item 5.02 confidence 0.95

Chad M. Wheeler resigned as Group President for Fleet Segment at VSE CORP.

Action: resigned
Role: Group President for Fleet Segment

Exact text from the filing

Chad M. Wheeler, Group President for the Company's Fleet Segment, notified the Company on February 29, 2024, of his decision to resign from his position as VSE’s Group President for the Fleet Segment, with an effective date to be set later in 2024.

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VSE CORP filing history →

Source: SEC EDGAR

accession 0000102752-24-000085

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