VSE (VSEC)
NASDAQ:VSEC
Earnings Data
Report Date
Apr 29, 2026TBA (Confirmed)
Period Ending
2026 (Q1)Consensus EPS Forecast
0.91Last Year’s EPS
0.78Same Quarter Last Year
Strong Buy
Based on 8 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call communicated strong operational and financial momentum: record revenue and profitability in 2025, meaningful organic growth, improved leverage, and strategic acquisitions (Aero 3, Turbine Weld, announced PAG) that expand scale, proprietary content and margin potential. Management provided bullish 2026 revenue guidance (19%–23%) and margin stability while acknowledging timing-related headwinds: a sizable inventory build (~$45M) and Q1 margin compression, near-term free cash flow pressure, increased leverage following the PAG acquisition, labor constraints for MRO capacity expansion, and integration execution risks. On balance, the positive financial results, clear strategic rationale for acquisitions, synergy targets, and guidance for continued organic outperformance materially outweigh the near-term cash, leverage and execution headwinds, supporting a constructive outlook.Company Guidance
Record Annual Revenue and Transformation Completion
Full year 2025 aviation revenue of approximately $1.1 billion, up 41% year-over-year, marking the first time VSE surpassed $1 billion in annual revenue after completing the transition to a pure-play aviation aftermarket company.
Strong Q4 Consolidated Results
Fourth quarter 2025 consolidated revenue of $301 million, up 32% year-over-year; consolidated adjusted EBITDA of $52 million, up 55%; adjusted EBITDA margin of 17.2%, up ~260 basis points; adjusted net income of $26 million and adjusted diluted EPS of $1.16.
Substantial Full-Year Profitability Improvement
Full year adjusted EBITDA of $183 million, up 56% versus 2024; adjusted net income of $83 million, up 121%; adjusted net income per diluted share $3.92, up 87%.
Aviation Segment Record Performance
Aviation revenue reached a record $301 million in Q4 (up 32% YoY) and $1.1 billion for the full year (up 41% YoY). Q4 distribution revenue rose 37% and MRO revenue rose 24%; aviation adjusted EBITDA was a record $55 million in Q4 (18.3% margin, +43% YoY) and full-year aviation adjusted EBITDA was $195 million (margin expanded to 17.6%, +80 bps).
Improved Balance Sheet and Cash Generation
Q4 2025 free cash flow of approximately $31 million; full-year 2025 free cash flow of $6 million, an improvement of about $57 million versus the prior year. Adjusted net leverage improved to 1.1x (from 2.0x at the end of Q3 2025).
Strategic M&A to Expand Scale and Capabilities
Announced transformational acquisition of Precision Aviation Group (PAG) for approximately $2.025 billion (≈$1.75B cash + $275M equity) — PAG reported ~ $615M adjusted revenue for FY2025 with adjusted EBITDA margins above 20%. Phase 1 cost and in-sourcing synergies expected to exceed $15M annualized; combined company pathway to >20% adjusted EBITDA margin over several years.
Recent Acquisitions and Integration Progress
Completed Aero 3 and Turbine Weld acquisitions and advanced Kellstrom integration (exceeding synergy capture targets); Kellstrom margins improved from ~11% to ~17% under VSE ownership.
New High-Value Organic Awards
Signed exclusive OEM asset purchase to manufacture/distribute/repair fuel pumps for Pratt & Whitney Canada PT6 series and a globally exclusive life-of-program APU components distribution agreement covering >2,500 parts across 4 OEM APU platforms, expanding proprietary, annuity-like revenue streams.
2026 Consolidated Guidance Indicates Continued Growth
2026 guidance: full year revenue growth of 19%–23% (organic growth expected in the high single to low double-digit range); adjusted EBITDA margin guidance 16.8%–17.3%; acquisitions (Aero 3 and Turbine Weld) expected to contribute ~11%–13% of revenue growth and be ~40 basis points accretive to margins.
VSEC Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
VSEC Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Feb 25, 2026 | $219.54 | $226.50 | +3.17% |
Oct 27, 2025 | $179.43 | $182.64 | +1.79% |
Jul 30, 2025 | $141.32 | $156.37 | +10.64% |
May 06, 2025 | $117.83 | $127.04 | +7.81% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does VSE (VSEC) report earnings?
VSE (VSEC) is schdueled to report earning on Apr 29, 2026, TBA (Confirmed).
What is VSE (VSEC) earnings time?
VSE (VSEC) earnings time is at Apr 29, 2026, TBA (Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is VSEC EPS forecast?
VSEC EPS forecast for the fiscal quarter 2026 (Q1) is 0.91.