VSE Corp. reports Q1 EPS 87c, consensus 72c

Reports Q1 revenue $241.5M, consensus $237.21M. “We completed the first quarter of 2024 with record financial results,” said John Cuomo, President and CEO of VSE Corporation. “Our Aviation segment reported 43% revenue growth and record Adjusted EBITDA margins of 17% in the quarter. The Aviation segment’s robust results were supported by strong execution on recently awarded distribution and MRO agreements, the introduction of new product and service capabilities, the launch of a newly acquired OEM licensed manufacturing program, and contributions from the Desser Aerospace acquisition. Our Fleet segment continued to diversify its customer base, driving strong growth in commercial and e-commerce customers, offset by a near-term decrease in maintenance activity within the United States Postal Service.”