VSE Corporation (VSEC)
NASDAQ:VSEC
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Earnings Data
Report Date
Jul 29, 2026TBA (Confirmed)
Period Ending
2026 (Q2)Consensus EPS Forecast
0.92Last Year’s EPS
0.97Same Quarter Last Year
Strong Buy
Based on 8 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call presents a strongly positive operational and financial performance: record revenue, robust organic growth (~15% ex-acquisitions), notable margin expansion (+130 bps) and multiple strategic M&A and program wins (PAG, NorthStar, Pratt & Whitney Canada APU). Management strengthened liquidity and refinancing and provided an updated revenue and margin outlook that reflects the PAG acquisition. Key near-term risks include elevated cash usage and inventory build, higher leverage/interest expense from acquisition financing, integration and synergy execution risk related to newly closed PAG, customer concentration (~20%), and macro/fuel-price sensitivity. On balance the favorable operational momentum, margin improvement and strategic M&A progress outweigh near-term financing and integration challenges.Company Guidance
Record quarterly revenue and strong top-line growth
Revenue of $325 million, up 27% year-over-year; organic revenue (ex recent acquisitions) grew ~15% year-over-year, reflecting robust underlying demand.
Balanced segment performance — Distribution and MRO expansion
Distribution revenue increased 26% YoY and MRO revenue increased 28% YoY, driven by new and existing programs, expanded repair capacity and contributions from acquisitions (Aero 3, Turbine Weld). Engine-related aftermarket activity now represents more than 50% of total revenue.
Profitability and margin expansion
Consolidated adjusted EBITDA rose 37% YoY to $55 million; adjusted EBITDA margin improved to 17.1% (≈ +130 basis points YoY). Adjusted net income was $33 million and adjusted diluted EPS was $1.17.
Strategic M&A and program wins
Closed PAG acquisition (May 5) creating a combined platform with 61 locations across 8 countries (48 repair facilities, 11 distribution centers). PAG is described as immediately margin-accretive with management targeting a clear path to exceed 20% consolidated adjusted EBITDA margin over time. Also closed NorthStar (April 1) to expand engine service/logistics capabilities; completed integration of Turbine Weld; secured a global life-of-program distribution agreement with Pratt & Whitney Canada covering >2,500 SKUs and expanded a CFM56 asset-management program.
Strengthened capital structure and liquidity
Ended the quarter with ~$1.24 billion in cash and cash equivalents (majority used to fund the PAG acquisition at close); no borrowings on an upsized $500 million revolver; closed a $900 million Term Loan B. Pro forma adjusted net leverage estimated below 3x with a path to below 2.5x by year-end.
Updated full-year guidance (inclusive of PAG)
Updated FY2026 revenue growth guidance (inclusive of PAG) to +57% to +61%; updated adjusted EBITDA margin outlook (inclusive of PAG) to 18.1%–18.5%. Management notes these updates reflect inclusion of PAG rather than a change to the underlying business outlook.
Demand resilience and forward indicators
Management reports strong bookings and a strong start to April; notes resilient demand in engine aftermarket and business/general aviation despite elevated fuel prices, with multi-month visibility on many engine-related bookings.
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 |
|---|---|---|---|
May 05, 2026 | $177.43 | $207.45 | +16.92% |
Feb 25, 2026 | $219.44 | $226.40 | +3.17% |
Oct 27, 2025 | $179.35 | $182.56 | +1.79% |
Jul 30, 2025 | $141.26 | $156.30 | +10.64% |
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 Corporation (VSEC) report earnings?
VSE Corporation (VSEC) is schdueled to report earning on Jul 29, 2026, TBA (Confirmed).
What is VSE Corporation (VSEC) earnings time?
VSE Corporation (VSEC) earnings time is at Jul 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 (Q2) is 0.92.