VSE Corporation Announces Third Quarter 2026 Results

John Cuomo, President and Chief Executive Officer of VSE Corporation

“VSE delivered an exceptional third quarter, achieving record revenue and profitability, approximately 17% organic revenue growth and strong cash generation,”

John Cuomo, President and Chief Executive Officer of VSE Corporation

“These results demonstrate the strength of our aviation aftermarket platform and outstanding execution by our teams. Broad-based demand, led by engine aftermarket activity in repair and distribution, drove strong core business performance alongside contributions from recent acquisitions. This momentum and our confidence in the remainder of the year support raising our full year 2026 revenue and Adjusted EBITDA margin guidance.”

John Cuomo, President and Chief Executive Officer of VSE Corporation

“During the quarter, we expanded our proprietary engine repair capabilities through the acquisition of Atech Turbine Components (“Atech”) and advanced integration across the VSE and Precision Aviation Group (“PAG”) businesses. Our teams are pursuing joint commercial opportunities, bringing more repair work in-house, and improving operational efficiency across the combined platform. These efforts deepen our OEM partnerships, expand our addressable markets, broaden the solutions we offer customers, and support margin expansion.”

John Cuomo, President and Chief Executive Officer of VSE Corporation

“We see substantial opportunity ahead. Our engine-focused repair and parts portfolio, strong OEM relationships, and diversified end markets position us to build on this quarter’s performance. With a deep pipeline of organic growth opportunities and meaningful expected acquisition synergies ahead, we remain focused on delivering above-market growth, further margin expansion, and stronger free cash flow generation. We believe these priorities position VSE to deliver significant long-term value for our shareholders,”

Adam Cohn, Chief Financial Officer of VSE Corporation

“VSE’s record third quarter results demonstrate the earnings power and cash generation of the combined VSE and PAG platform. Revenue increased 91.2% to $541.0 million, net income from continuing operations increased by $43.7 million to $47.3 million, and Adjusted EBITDA margin expanded approximately 310 basis points to a record 19.8%. We generated $56.0 million of operating cash flow and $46.6 million of free cash flow, reflecting strong operating execution across the business. We ended the quarter with an Adjusted net leverage ratio of approximately 2.3x, a solid position following our recent acquisitions. We expect strong fourth quarter free cash flow to support continued deleveraging while maintaining the flexibility to invest in organic growth and pursue disciplined acquisitions.”