Record Revenue and Profitability
VSE delivered record revenue and profitability for the third quarter of 2025, driven by strong market demand and strategic execution.
Acquisition of Aero 3
VSE announced the acquisition of Aero 3 for $350 million, expected to close in Q4 2025. Aero 3 is a global leader in Wheel & Brake MRO services, contributing $120 million in revenue over the last 12 months with strong EBITDA margins over 20%.
Strong Financial Performance
Consolidated revenues increased 39% to $283 million, and adjusted EBITDA increased 58% to $47 million. Adjusted net income rose by 111% and adjusted EPS increased by 87% compared to the prior year.
MRO Segment Growth
MRO revenue increased 25%, driven by higher-margin product mix and new repair capabilities. Aviation adjusted EBITDA rose by 51% to a record $50 million.
Balance Sheet Strength
VSE's adjusted net leverage ratio improved to 2x, supported by solid free cash flow generation and disciplined working capital management.