V2X reports Q4 adjusted EPS $1.22, consensus 33c

Reports Q4 revenue $1.04 B, consensus $1.01B. “I’m pleased to report a strong finish to 2023, with record revenue and strong operational performance which drove significant cash generation and net debt reduction,” said CEO Chuck Prow. “I’d like to thank our teams that demonstrated agility and excellent performance, delivering 8% pro forma revenue growth for the full-year and 6% for the quarter. We made significant progress advancing V2X as a leader in the operational segment of the federal services market while continuing to position the company for long-term growth. The leading indicators for our business remain strong with a backlog of approximately $13B, $9B of bids submitted currently under evaluation, and a robust pipeline of opportunities valued at $15B expected to be submitted over the next twelve months. Our capabilities and position in an expanding market, present opportunities to drive continued growth and value for our shareholders and clients…Looking ahead, V2X continues to transform to deliver enhanced capabilities in an expanding market. We have strong momentum, robust backlog, a highly aligned pipeline, limited recompetes, and high free cash generation that provides an excellent fundamental profile to support value creation.”